8期

最新文章

• Price Delegation with Learning Agents AI翻译
  作者：Atasu, Atalay; Ciocan, Dragos Florin; Desir, Antoine
  作者单位：INSEAD Business School
  摘要：Many firms delegate pricing decisions to sales agents that directly interact with customers. A premise behind this practice is that sales agents can gather informative signals about the customer's valuation for the good of interest. The information acquired through this interaction with the customer can then be used to make better pricing decisions. We study the underlying principal-agent problem that arises in such situations. In this setting, the agent can exert costly effort to learn a cust...
• Tiered Assortment: Optimization and Online Learning AI翻译
  作者：Wei, Junyu; Sun, Wei
  作者单位：University of Texas System; University of Texas Austin; International Business Machines (IBM); IBM USA
  摘要：Due to the sheer number of available choices, online retailers frequently use tiered assortment to present products. In this case, groups of products are arranged across multiple pages or stages, and a customer clicks on next or load more to access them sequentially. Despite the prevalence of such assortments in practice, this topic has not received much attention in the existing literature. In this work, we focus on a sequential choice model that captures customers' behavior when product reco...
• Analyst Coverage Networks and Corporate Financial Policies AI翻译
  作者：Gomes, Armando; Gopalan, Radhakrishnan; Leary, Mark T.; Marcet, Francisco
  作者单位：Washington University (WUSTL); National Bureau of Economic Research; Universidad de Chile
  摘要：We use the setting of analyst coverage networks to shed light on the nature of peer effects in financial policies. First, we use the friends-of-friends approach and exploit the fact that analyst coverage networks partially overlap to identify endogenous peer effects, in which firms respond directly to the capital structure choices of their peers, separately from contextual effects, in which they respond to their peers' characteristics. We further show evidence that analysts facilitate these pe...
• Betting on Diversity-Occupational Segregation and Gender Stereotypes AI翻译
  作者：Fischbacher, Urs; Kuebler, Dorothea; Stueber, Robert
  作者单位：University of Konstanz; Technical University of Berlin; Leibniz Association; Ifo Institut; New York University; New York University Abu Dhabi
  摘要：Gender segregation of occupations and entire industries is widespread. The segregation could be the result of perceived job-specific productivity differences between men and women. It could also result from the belief that homogeneous teams perform better or from in-group bias of male or female recruiters. We investigate these explanations in two samples: students and personnel managers. The subjects bet on the productivity of teams that are homogeneous with respect to gender at the outset and...
• Secretary Problems with Biased Evaluations Using Partial Ordinal Information AI翻译
  作者：Salem, Jad; Gupta, Swati
  作者单位：United States Department of Defense; United States Navy; United States Naval Academy; Massachusetts Institute of Technology (MIT)
  摘要：The k-secretary problem deals with online selection of at most k numerically scored applicants, where selection decisions are immediate upon their arrival and irrevocable, with the goal of maximizing total score. There is, however, wide prevalence of bias in evaluations of applicants from different demographic groups (e.g., gender, age, race), and the assumption of an algorithm observing their true score is unreasonable in practice. In this work, we propose the poset secretary problem, where s...
• Policy Learning with Adaptively Collected Data AI翻译
  作者：Zhan, Ruohan; Ren, Zhimei; Athey, Susan; Zhou, Zhengyuan
  作者单位：Hong Kong University of Science & Technology; University of Pennsylvania; Stanford University; New York University
  摘要：In a wide variety of applications, including healthcare, bidding in first price auctions, digital recommendations, and online education, it can be beneficial to learn a policy that assigns treatments to individuals based on their characteristics. The growing policylearning literature focuses on settings in which policies are learned from historical data in which the treatment assignment rule is fixed throughout the data-collection period. However, adaptive data collection is becoming more comm...
• The SEC's Short-Sale Experiment: Evidence on Causal Channels and Reassessment of Indirect Effects AI翻译
  作者：Black, Bernard S.; Desai, Hemang; Litvak, Katherine; Yoo, Woongsun; Yu, Jeff Jiewei
  作者单位：Northwestern University; Northwestern University; Southern Methodist University; Central Michigan University; University of Arizona
  摘要：During 2005-2007, the Securities and Exchange Commission conducted a randomized trial in which it removed short-sale restrictions from one third of the Russell 3000 firms. Early studies found modest market microstructure effects of removing the restrictions but no effect on short interest, stock returns, volatility, or price efficiency. More recently, many studies have attributed a wide range of indirect outcomes to this experiment, mostly without assessing the causal channels for those outcom...
• Ensemble Experiments to Optimize Interventions Along the Customer Journey: A Reinforcement Learning Approach AI翻译
  作者：Song, Yicheng; Sun, Tianshu
  作者单位：University of Minnesota System; University of Minnesota Twin Cities; University of Southern California
  摘要：Firms adopt randomized experiments to evaluate various interventions (e.g., web site design, creative content, and pricing). However, most randomized experiments are designed to identify the impact of one specific intervention. The literature on randomized experiments lacks a holistic approach to optimize a sequence of interventions along the customer journey. Specifically, locally optimal interventions unveiled by randomized experiments might be globally suboptimal when considering their inte...
• Editorial Statement-BEHAVIORAL ECONOMICS AND DECISION ANALYSIS AI翻译
  作者：Baillon, Aurelien; Beshears, John; Kuebler, Dorothea; Soll, Jack B.; Villeval, Marie Claire; Weber, Roberto; Wu, George
  作者单位：emlyon business school; Harvard University; Technical University of Berlin; Duke University; Centre National de la Recherche Scientifique (CNRS); University of Zurich; University of Chicago
• Tick Size and Earnings Guidance in Small-Cap Firms: Evidence from the SEC's Tick Size Pilot Program AI翻译
  作者：Chen, Yangyang; Ng, Jeffrey; Ofosu, Emmanuel; Yang, Xin
  作者单位：City University of Hong Kong; University of Hong Kong; Central University of Finance & Economics
  摘要：The Securities and Exchange Commissio ..n's 2016 Tick Size Pilot Program was a natural experiment that imposed increases in tick size for randomly selected small-cap firms. Using a difference-in-differences research design, we examine the effect of this increase in tick size on earnings guidance. We find that after initiation of the program, treatment firms provide significantly less earnings guidance. We provide further evidence that this decrease is driven by increases in investors' fundamen...