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作者：Peukert, Christian; Sen, Ananya; Claussen, Jorg
作者单位：University of Lausanne; Carnegie Mellon University; University of Munich; Copenhagen Business School
摘要：We run a field experiment to study the relative performance of human curation and automated personalized recommendation technology in the context of online news. We build a simple theoretical model that captures the relative efficacy of personalized algorithmic recommendations and curation based on human expertise. We highlight a critical tension between detailed, yet potentially narrow, information available to the algorithm versus broad (often private), but not scalable, information availabl...
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作者：Kedia, Simi; Kim, Gunchang
作者单位：Rutgers University System; Rutgers University New Brunswick; Rutgers University Newark; Southwestern University of Finance & Economics - China
摘要：This paper examines whether ownership by media conglomerates impacts business news reporting. To address this question, we take advantage of a unique setting when in 2007 the ownership of The Wall Street Journal (WSJ) was transferred to News Corp., a media conglomerate with broad business interests. We find that, after the acquisition, WSJ's sentiment toward competitors of News Corp. became significantly negative in comparison with similar reporting conducted by The New York Times. Further, WS...
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作者：Li, Xiaocheng; Zheng, Zeyu
作者单位：Imperial College London; University of California System; University of California Berkeley
摘要：A merchant dynamically sets prices in each time period when selling a product over a finite time horizon with a given initial inventory. The merchant utilizes new external information that is observed at the beginning of each time period, whereas the demand function-how the external information and the price jointly impact that single-period demand distribution-is unknown. The merchant's decision, setting price dynamically, serves dual roles to learn the unknown demand function and to balance ...
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作者：Gong, Shuaishuai; Levine, Ross; Lin, Chen; Xie, Wensi
作者单位：University of Macau; Stanford University; University of Hong Kong; Chinese University of Hong Kong
摘要：Exploiting a unique high-frequency, individual-level database, we (1) construct individual-level, incentive-compatible proxies of impulsivity based on video gaming behavior and (2) use these proxies to evaluate predictions concerning how impulsivity shapes individuals' responses to a relaxation of credit constraints as captured by receiving a credit card. We discover that precard gaming intensity-as measured by the frequency and amount of game expenditures-is strongly and positively associated...
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作者：Kovacs, Balazs; Hsu, Greta; Sharkey, Amanda
作者单位：Yale University; University of California System; University of California Davis; Arizona State University; Arizona State University-Tempe
摘要：Market producers often seek to position themselves in different categories over time. Successful repositioning is difficult, however, as audiences often devalue offerings that depart from a producer's past creations. Prior research suggests that this penalty arises as evaluators withhold opportunities for producers to reposition because of presumptions of a lack of competence in different categories. In this paper, we develop understanding of a novel evaluator-driven challenge to producers' re...
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作者：Saghafian, Soroush
作者单位：Harvard University
摘要：A main research goal in various studies is to use an observational data set and provide a new set of counterfactual guidelines that can yield causal improvements. Dynamic Treatment Regimes (DTRs) are widely studied to formalize this process and enable researchers to find guidelines that are both personalized and dynamic. However, available methods in finding optimal DTRs often rely on assumptions that are violated in real-world applications (e.g., medical decision making or public policy), esp...
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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：Bonaparte, Yosef; Korniotis, George M.; Kumar, Alok; Vosse, Melina
作者单位：University of Colorado System; University of Colorado Anschutz Medical Campus; Children's Hospital Colorado; University of Colorado Denver; University of San Diego
摘要：We study the impact of monetary policy changes on portfolio decisions of U.S. households. Contrary to the predictions of canonical portfolio choice models, interest rate increases are related to increased equity ownership and larger wealth allocations to risky assets. Inflation hedging is a likely explanation for these findings. Interest rates have a stronger impact on the equity exposure of households that experience higher inflation, especially those with greater inflation awareness and pote...
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作者：Shaffer, Matthew
作者单位：University of Southern California
摘要：In U.S. mergers and acquisitions, target directors are required to consider thirdparty financial valuations, summarized in a fairness opinion before accepting a takeover offer. Critics argue (1) that these valuations are not relevant for public companies, which can assess the desirability of the deal based on the market premium, and (2) that the investment bank providers cater to management by rationalizing the deal price rather than providing an independent valuation check. I find that fairne...
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作者：Figueroa, Nicolas; Lemus, Jorge
作者单位：Pontificia Universidad Catolica de Chile; University of Illinois System; University of Illinois Urbana-Champaign
摘要：An applicant privately observes the value of an idea and files a patent application. After the examination, the patent examiner may not find conclusive evidence of the idea's value. In this case, granting a patent can be the right decision or a mistake. Moreover, it can prompt obfuscation-effort to disrupt communication-by the applicant, reducing allocative efficiency. We show there is more obfuscation when examiners are more lenient, and we provide an empirical exercise supporting this conclu...
