-
作者：Bassamboo, Achal; Ibrahim, Rouba
作者单位：Northwestern University; University of London; University College London
摘要：Service providers often share delay information, in the form of delay announcements, with their customers. In practice, simple delay announcements, such as average waiting times or a weighted average of previously delayed customers, are often used. Our goal in this paper is to gain insight into when such announcements perform well. Specifically, we compare the accuracies of two announcements: (i) a static announcement that does not exploit real-time information about the state of the system an...
-
作者：Li, Hui; Zhu, Feng
作者单位：Carnegie Mellon University; Harvard University
摘要：Platform competition is shaped by the likelihood of multihoming (i.e., complementors or consumers adopt more than one platform). To take advantage of multi homing, platform firms often attempt to motivate their rivals' high-performing complementors to adopt their own platforms, or they attempt to prevent their current complementors or consumers from multihoming. In this paper, we study the effectiveness of such strategies in the context of the online daily deals market. We first develop a game...
-
作者：Subramanian, Shivaram; Harsha, Pavithra
作者单位：International Business Machines (IBM); IBM USA
摘要：We present an integrated optimization approach to parameter estimation for discrete choice demand models where data for one or more choice alternatives are censored. We employ a mixed-integer program (MIP) to jointly determine the prediction parameters associated with the customer arrival rate and their substitutive choices. This integrated approach enables us to recover proven, (near-) optimal parameter values with respect to the chosen loss-minimization (LM) objective function, thereby overc...
-
作者：Jin, Xing; Luo, Dan; Zeng, Xudong
作者单位：Tianjin University of Finance & Economics; Shanghai University of Finance & Economics; Shanghai University of Finance & Economics
摘要：This paper formulates a portfolio choice problem in a multiasset incomplete market characterized by ambiguous jumps and arbitrary tail assumptions. We derive the optimal portfolio in closed form through a decomposition approach. We show that, due to fear of tail incidents, an investor diminishes portfolio diversification, and even more so under heavy-tailed jumps that intensify misspecification concerns. We then implement our model in international equity markets to quantify the impact of tail...
-
作者：Beattie, Graham; Durante, Ruben; Knight, Brian; Sen, Ananya
作者单位：Pompeu Fabra University; ICREA; Barcelona School of Economics; Brown University; National Bureau of Economic Research; Carnegie Mellon University
摘要：Do mass media bias content in favor of advertisers? If so, what market conditions limit or exacerbate this bias? We examine the relationship between advertising by auto manufacturers in U.S. newspapers and news coverage of car safety recalls between 2000 and 2014. This context allows us to separate the influence of advertisers, who prefer less coverage, from that of readers, who prefer more information about the safety risks associated with the recalls. Consistent with theoretical predictions,...
-
作者：Hsu, Alex; Li, Erica X. N.; Palomino, Francisco
作者单位：University System of Georgia; Georgia Institute of Technology; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：This paper quantitatively explores the role of external habits, nominal rigidities, and monetary policy for real and nominal bond yields in an asset-pricing endogenous growth model. The calibration captures the reported average positive slopes of U.S. real and nominal yield curves with sizable positive real and nominal bond risk premia. Habits are critical to generate positive real premia by altering the comovement of real rates and productivity shocks. Nominal rigidities generate monetary pol...
-
作者：Rosu, Ioanid; Saleh, Fahad
作者单位：Hautes Etudes Commerciales (HEC) Paris; Wake Forest University
摘要：Do the rich always get richer by investing in a cryptocurrency for which new coins are issued according to a proof-of-stake (PoS) protocol? We answer this question in the negative: Without trading, the investor shares in the cryptocurrency are martingales that converge to a well-defined limiting distribution and, hence, are stable in the long run. This result is robust to allowing trading when investors are risk neutral. Then, investors have no incentive to accumulate coins and gamble on the P...
-
作者：Golden, Joseph; Horton, John Joseph
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：We report the results of an experiment in which a company, Firm Vary, temporarily suspended its sponsored search advertising campaign on Google in randomly selected advertising markets in the United States. By shutting off its ads, Firm Vary lost customers, but only 63% as many as a nonexperimental estimate would have suggested. Following the experiment, Firm Vary merged with its closest competitor, Firm Fixed. Using combined data from both companies, the experiment revealed that spillover eff...
-
作者：Huang, Guofang; Sudhir, K.
作者单位：Purdue University System; Purdue University; Yale University
摘要：We propose an instrumental-variable (IV) approach to estimate the causal effect of service satisfaction on customer loyalty by exploiting a common source of randomness in the assignment of service employees to customers in service queues. Our approach can be applied at no incremental cost by using routine repeated cross-sectional customer survey data collected by firms. The IV approach addresses multiple sources of biases that pose challenges in estimating the causal effect using cross-section...
-
作者：Mejia, Jorge; Parker, Chris
作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington; American University
摘要：Providing transparency into operational processes can change consumer and worker behavior. However, it is unclear whether operational transparency is beneficial with potentially biased service providers. We explore this in the context of ridesharing platforms where early evidence documents bias similar to what has been observed in traditional transportation systems. Platforms responded by reducing operational transparency through removing information about riders' gender and race from the ride...
