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作者：Feng, Josh; Maini, Luca
作者单位：Utah System of Higher Education; University of Utah; Harvard University; Harvard Medical School
摘要：Do pharmacy benefit managers (PBMs) reduce spending on prescription drugs? Reduced -form evidence suggests that PBMs enforce a tradeoff between net -of -rebate prices and access to drugs within each market. However, net -of -rebate prices grow consistently over time and appear unresponsive to competitor entry. We argue that inertia in drug demand can reconcile these facts. To formally analyze the roles played by PBMs and demand inertia, we build a dynamic structural model of drug pricing and e...
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作者：Johnson, Justin P.; Jungbauer, Thomas; Preuss, Marcel
作者单位：Cornell University
摘要：Invoking a property rights approach, we examine how competition between advertising exchanges influences the targeting options that these exchanges make available to advertisers. When advertisers have strong property rights over data regarding consumers' active purchase interests, competition between ad exchanges leads to too little sharing of data. This may harm consumers, who receive too few pertinent ads, and advertisers themselves can also be harmed due to a situation resembling a prisoner...
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作者：Gans, Joshua S.; Halaburda, Hanna
作者单位：University of Toronto; National Bureau of Economic Research; New York University
摘要：The core premise of permissionless blockchains is their reliable and secure operation without the need to trust any individual agent. At the heart of blockchain consensus mechanisms is an explicit cost (e.g., mining cost) for participation in the network and the opportunity to add blocks to the blockchain. A key rationale for that cost is to make attacks on the network, which could be theoretically carried out if a majority of nodes were controlled by a single entity, too expensive to be worth...
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作者：Basu, Amit; Bhaskaran, Sreekumar; Mukherjee, Rajiv
作者单位：Southern Methodist University; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：Firms seeking business partners and individuals seeking life partners face several challenges in addition to finding available candidates. One of these challenges is uncertainty about a candidate's compatibility with the match-seeker on various subjective criteria. Another challenge is authentication of objective quality features, particularly in online settings where credentials can be easily misrepresented. Online matching platforms can address these challenges through counseling services th...
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作者：Soule, David; Grushka-Cockayne, Yael; Merrick, Jason
作者单位：University of Richmond; University of Virginia; Virginia Commonwealth University
摘要：It is intuitive and theoretically sound to combine experts' forecasts based on their proven skills, while accounting for correlation among their forecast submissions. Simpler combination methods, however, which assume independence of forecasts or equal skill, have been found to be empirically robust, in particular, in settings in which there are few historical data available for assessing experts' skill. One explanation for the robust performance by simple methods is that empirical estimation ...
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作者：Liu, Che-Wei; Wang, Weiguang; Gao, Guodong (Gordon); Agarwal, Ritu
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business; University of Rochester; Johns Hopkins University
摘要：Fueled by remarkable developments in mobile and wearable technologies coupled with the power of the Internet a multibillion industry constructed on digital platforms, Connected Fitness, has emerged. Sustained engagement is a crucial prerequisite for healthy behavior, and platforms that offer connected fitness services must contend with the challenge of engaging new users. In this study, we examine whether a virtual race, an event in which runners can participate remotely in an organized activi...
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作者：Gao, Yu; Tavoni, Massimo
作者单位：Peking University; Polytechnic University of Milan; Centro Euro-Mediterraneo sui Cambiamenti Climatici (CMCC)
摘要：It is well documented that people have misperceptions about energy costs. However, there is mixed empirical evidence about the effectiveness of information provision and its persistence over time. Understanding the interplay between information regarding the private and social benefits of low-carbon technologies and identifying mechanisms through which information treatments affect people's long-term behaviors can help reconcile the mixed findings in the literature. In this paper, we measured ...
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作者：Larrain, Borja; Roosenboom, Peter; Sertsios, Giorgo; Urzua, Francisco
作者单位：Pontificia Universidad Catolica de Chile; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; University of Wisconsin System; University of Wisconsin Milwaukee; City St Georges, University of London
摘要：We study the relationship between ownership concentration and firm value using hand-collected data on the stakes of owner-managers before and after initial public offerings (IPOs). We instrument for the reduction in stake using market returns shortly before IPOs. Short-run market returns are plausible instruments because owners engage in market timing by selling more when prior returns are high, but high short-run returns are unlikely to directly affect firm value years after the IPO. As predi...
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作者：Cohen, Lauren H.; Gurun, Umit G.
作者单位：Harvard University; National Bureau of Economic Research; University of Texas System; University of Texas Dallas
摘要：We document evidence that firms systematically increase specialized, locally targeted advertising following the firm being taken to trial in that given location, precisely following initiation of the suit. In particular, we use legal actions brought against publicly traded firms over the 20-year sample period that progress to trial between 1995 and 2014. In terms of magnitude, the increase is sizable: targeted local advertising increases by 23% (t = 4.37) following the suit. They focus their a...
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作者：Fangwa, Anicet A.; Flammer, Caroline; Huysentruyt, Marieke; Quelin, Bertrand V.
作者单位：McGill University; Columbia University; Columbia University; European Corporate Governance Institute
摘要：Substantial funding is provided to the healthcare systems of low-income countries. However, an important challenge is to ensure that this funding is used efficiently. This challenge is complicated by the fact that a large share of healthcare services in lowincome countries is provided by nonprofit health centers that often lack (i) effective governance structures and (ii) organizational know-how and adequate training. In this paper, we argue that the bundling of performance-based incentives wi...
