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作者：Mohrschladt, Hannes; Baars, Maren; Langer, Thomas
作者单位：University of Munster
摘要：Heuristics and biases in probabilistic belief updating have typically been examined in simple two-state experimental settings. We argue that the two-state setting has probabilistic properties that do not extend to settings with more states. With three states, we find that individuals apply similar heuristics, such as representativeness and anchoring, when providing posterior probability distributions. However, because of the different normative benchmark, the use of these heuristics results in...
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作者：Gong, Xiao-Yue; Simchi-Levi, David
作者单位：Carnegie Mellon University; Massachusetts Institute of Technology (MIT)
摘要：Motivated by a long-standing gap between inventory theory and practice, we study online inventory models with unknown cyclic demand distributions. We design provably efficient reinforcement learning (RL) algorithms that leverage the structure of inventory problems to achieve optimal theoretical guarantees that surpass existing results. We apply the standard performance measure in online learning literature, regret, which is defined as the difference between the total expected cost of our polic...
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作者：Bacchiega, Emanuele; Colucci, Mariachiara; Denicolo, Vincenzo; Magnani, Marco
作者单位：University of Bologna; University of Bologna; University of Bologna; Centre for Economic Policy Research - UK
摘要：This paper challenges two common views of brand dilution: first, that it is exclusively the unintended consequence of a poorly executed strategy of brand extension and, second, that its likelihood is heightened by brand licensing. Using a new theoretical model, we show that brand dilution can be seen not just as an unfortunate development to be avoided, but as an opportunity to monetize the brand. We further show that, at the relevant margin, switching from in-house development to licensing re...
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作者：Lee, Yi-Shan; Weber, Roberto A.
作者单位：Chinese University of Hong Kong; University of Zurich
摘要：We investigate the extent to which trade-offs involving the sharing of personal information exhibit consistency with an underlying rational preference for privacy. In an experiment, people engage in trade-offs across two domains of personal information sharing, allowing us to classify whether their choices satisfy the generalized axiom of revealed preference. They also subsequently price the sharing of their personal information. Sixtythree percent of subjects act consistently with a rational ...
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作者：Agarwal, Sumit; Ghosh, Pulak; Ruan, Tianyue; Zhang, Yunqi
作者单位：National University of Singapore; Indian Institute of Management (IIM System); Indian Institute of Management Bangalore; Nankai University
摘要：Cybersecurity breaches pose a substantial concern in the digital era. We investigate how customers respond to multiple unexpected data breaches of their information in India. Difference -in -differences estimates show that digital payments declined by 9% relative to cash payments immediately after an unexpected data breach in a food delivery platform, but the gap disappeared three months later. Customer entry and exit also exhibit weak, short-lived changes. Additional analyses on bank and onli...
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作者：Turcic, Danko; Markou, Panos; Kouvelis, Panos; Corsten, Daniel
作者单位：University of California System; University of California Riverside; University of Virginia; Washington University (WUSTL); IE University
摘要：This article may be used only for the purposes of research, teaching, and/or private study. Commercial use or systematic downloading (by robots or other automatic processes) is prohibited without explicit Publisher approval, unless otherwise noted. For more information, contact permissions@informs.org. The Publisher does not warrant or guarantee the article's accuracy, completeness, merchantability, fitness for a particular purpose, or non-infringement. Descriptions of, or references to, produ...
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作者：Jackson, Robert; Lynch-Levy, Bradford; Taylor, Daniel
作者单位：New York University; University of Chicago; University of Pennsylvania
摘要：Whereas corporate insiders at U.S.-listed, U.S.-domiciled companies must disclose their stock sales electronically within two business days on Form 4, the U.S. Securities and Exchange Commission (SEC) exempts insiders at U.S.-listed, foreign-domiciled companies from this requirement. Instead, these foreign insiders report their sales on a paper form mail -filed with the SEC. Using a unique data set compiled from digitized versions of thousands of paper forms, we examine the stock sales of fore...
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作者：Bundorf, M. Kate; Polyakova, Maria; Tai-Seale, Ming
作者单位：Duke University; National Bureau of Economic Research; Stanford University; University of California System; University of California San Diego
摘要：Consumers increasingly use digital advice when making purchasing decisions. How do such tools change consumer behavior and what types of consumers are likely to use them? We examine these questions with a randomized controlled trial of digital expert advice in the context of prescription drug insurance. The intervention we study was effective at changing consumer choices. We propose that, conceptually, expert advice can affect consumer choices through two distinct channels: by updating consume...
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作者：Elkamhi, Redouane; Kim, Daniel; Salerno, Marco
作者单位：University of Toronto; University of Waterloo
摘要：We estimate the costs of financial distress prior to default (predefault costs) separately from the loss incurred at default (the loss given default) using a dynamic tradeoff model of capital structure. We show that predefault costs account for a large fraction of total distress costs, approximately 64.1%. At the same time, they vary across industries ranging from 32.1% to 75%. We demonstrate that the expected predefault costs of financial distress vary significantly across industries with a r...
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作者：Yao, Yunfei (Jesse)
作者单位：Chinese University of Hong Kong
摘要：Consumers frequently search for information before making decisions. Because their search and purchase decisions depend on the information environment, firms have a strong incentive to influence it. This paper endogenizes the consumer's information environment from the firm's perspective and endogenizes the search decision from the consumer's perspective. We consider a dynamic model where a firm sequentially persuades a consumer to purchase the product. The consumer only wishes to buy the prod...
