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作者：Colliard, Jean-Edouard; Demange, Gabrielle
作者单位：Paris School of Economics
摘要：In over-the-counter markets for assets, such as bonds and securitizations, large volumes can be split into smaller pieces and gradually sold to several final investors with the intermediation of multiple dealers. This paper proposes a model to study this process, called asset dissemination. A dealer buys several units of an asset from a customer and then sells some units to the dealer's customers and to a second dealer, who sells to the second dealer's customers and to a third dealer, and so o...
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作者：Wang, Yining; Chen, Boxiao; Simchi-Levi, David
作者单位：State University System of Florida; University of Florida; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：We consider a single product dynamic pricing with demand learning. The candidate prices belong to a wide range of a price interval; the modeling of the demand functions is nonparametric in nature, imposing only smoothness regularity conditions. One important aspect of our model is the possibility of the expected reward function to be nonconcave and indeed multimodal, which leads to many conceptual and technical challenges. Our proposed algorithm is inspired by both the Upper-Confidence-Bound a...
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作者：Ganguli, Ina; Huysentruyt, Marieke; Coq, Chloe Le
作者单位：University of Massachusetts System; University of Massachusetts Amherst; Stockholm School of Economics; Hautes Etudes Commerciales (HEC) Paris; Universite Paris-Pantheon-Assas
摘要：We conducted a field experiment to identify the causal effect of extrinsic reward cues on the sorting and performance of nascent social entrepreneurs. The experiment, carried out with one of the United Kingdom's largest support agencies for social entrepreneurs, encouraged 431 nascent social entrepreneurs to submit a full application for a grant competition that provides cash and in-kind mentoring through a one-time mailing sent by the agency. The applicants were randomly assigned to one of th...
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作者：Liu, Jia; Toubia, Olivier; Hill, Shawndra
作者单位：Hong Kong University of Science & Technology; Columbia University; University of Pennsylvania
摘要：We develop a flexible content-based search model that links the content preferences of search engine users to query search volume and click-through rates, while allowing content preferences to vary systematically based on the context of a search. Content preferences are defined over latent topics that describe the content of search queries and search result descriptions. Compared with existing applications of topic modeling in marketing and recommendation systems, our proposed approach can sim...
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作者：Chod, Jiri; Markakis, Mihalis G.; Trichakis, Nikolaos
作者单位：Boston College; University of Navarra; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：Resource flexibility, arguably among the most celebrated operational concepts, is known to provide firms facing demand uncertainty with such benefits as risk pooling, revenue-maximization optionality, and operational hedging. In this paper, we uncover a heretofore unknown benefit: we establish that resource flexibility facilitates learning the demand when the latter is censored, which could, in turn, enable firms to make betterinformed future operational decisions, thereby increasing profitabi...
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作者：Cheung, Yan-Leung; Rau, P. Raghavendra; Stouraitis, Aris
作者单位：Education University of Hong Kong (EdUHK); University of Cambridge; Hong Kong Baptist University
摘要：We analyze a hand-collected sample of bribery cases from around the world to describe how the payment of bribes affects shareholder value. The net present value of a bribe conditional on getting caught is close to zero for the median firm in our sample. However, controlling for industry, country, and firm characteristics, a $1 increase in the size of the bribe is associated with an ex ante $6-$9 increase in the value of the firm, suggesting a correlation between the size of bribes and the size...
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作者：Coker, Beau; Rudin, Cynthia; King, Gary
作者单位：Harvard University; Harvard T.H. Chan School of Public Health; Duke University; Duke University; Harvard University
摘要：Inference is the process of using facts we know to learn about facts we do not know. A theory of inference gives assumptions necessary to get from the former to the latter, along with a definition for and summary of the resulting uncertainty. Any one theory of inference is neither right nor wrong but merely an axiom that may or may not be useful. Each of the many diverse theories of inference can be valuable for certain applications. However, no existing theory of inference addresses the tende...
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作者：Cong, Lin William; Xie, Danxia; Zhang, Longtian
作者单位：Cornell University; Tsinghua University; Central University of Finance & Economics
摘要：We build an endogenous growth model with consumer-generated data as a new key factor for knowledge accumulation. Consumers balance between providing data for profit and potential privacy infringement. Intermediate good producers use data to innovate and contribute to the final good production, which fuels economic growth. Data are dynamically nonrival with flexible ownership while their production is endogenous and policy-dependent. Although a decentralized economy can grow at the same rate (b...
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作者：Elmachtoub, Adam N.; Gupta, Vishal; Hamilton, Michael L.
作者单位：Columbia University; Columbia University; University of Southern California; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：Increased availability of high-quality customer information has fueled interest in personalized pricing strategies, that is, strategies that predict an individual customer's valuation for a product and then offer a price tailored to that customer. Although the appeal of personalized pricing is clear, it may also incur large costs in the forms of market research, investment in information technology and analytics expertise, and branding risks. In light of these trade-offs, our work studies the ...
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作者：Alaei, Saeed; Makhdoumi, Ali; Malekian, Azarakhsh
作者单位：Alphabet Inc.; Google Incorporated; Duke University; University of Toronto
摘要：Motivated by applications in online advertising, we consider a class of maximization problems where the objective is a function of the sequence of actions and the running duration of each action. For these problems, we introduce the concepts of sequence-submodularity and sequence-monotonicity, which extend the notions of submodularity and monotonicity from functions defined over sets to functions defined over sequences. We establish that if the objective function is sequence-submodular and seq...
