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作者：Bargeron, Leonce; Farrell, Michael
作者单位：University of Kentucky; University of Virginia; University of Wisconsin System; University of Wisconsin Milwaukee
摘要：This article may be used only for the purposes of research, teaching, and/or private study. Commercial use or systematic downloading (by robots or other automatic processes) is prohibited without explicit Publisher approval, unless otherwise noted. For more information, contact permissions@informs.org. The Publisher does not warrant or guarantee the article's accuracy, completeness, merchantability, fitness for a particular purpose, or non-infringement. Descriptions of, or references to, produ...
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作者：Ke, Bin; Mao, Xinshu; Wang, Bin; Zuo, Luo
作者单位：National University of Singapore; Beijing Technology & Business University; Beijing Technology & Business University; Cornell University
摘要：We propose and validate a comprehensive measure of power for the top management teams (TMTs) of publicly listed Chinese firms. We show that our measure is positively associated with the four power dimensions developed by prior research for U.S. firms as well as three Asia-relevant power dimensions, including political capital, seniority, and gender. We find that our TMT power measure is a valid proxy for TMT power for both state-controlled firms and non-state-controlled firms. We also compare ...
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作者：de Vericourt, Francis; Gurkan, Huseyin; Wang, Shouqiang
作者单位：European School of Management & Technology; University of Texas System; University of Texas Dallas
摘要：This paper explores how governments may efficiently inform the public about an epidemic to induce compliance with their confinement measures. Using an information design framework, we find the government has an incentive to either downplay or exaggerate the severity of the epidemic if it heavily prioritizes the economy over population health or vice versa. Importantly, we find that the level of economic inequality in the population has an effect on these distortions. The more unequal the disea...
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作者：Glazer, Jacob; Kremer, Ilan; Perry, Motty
作者单位：University of Warwick; Tel Aviv University; Hebrew University of Jerusalem; Hebrew University of Jerusalem
摘要：We consider a sequential investment process that is characteristic of crowd-funding platforms, among other contexts. Investors wish to avoid the cost of information acquisition and thus prefer to rely on information acquired by previous investors. This may lead to a phenomenon similar to an information cascade. We characterize the optimal policy that balances between the incentive to acquire information and the optimal investment decision. The policy is based on time-varying transparency level...
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作者：Schmitz, Jan
作者单位：Radboud University Nijmegen
摘要：The competition for donations between charities is tough. Yet, little is known about how giving behavior is affected by competition between charities. Do people have a need to satisfy their demand for giving by contributing to a particular charity? Or can the demand for doing good be satisfied by giving to any organization? In a donation dictator game, I vary competition between charities by (i) altering the set of similar real charities to which subjects can donate and (ii) changing the relat...
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作者：Andreoni, James; Serra-Garcia, Marta
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; Leibniz Association; Ifo Institut; University of California System; University of California San Diego
摘要：What is the value of pledges if they are often reneged upon? In this paper, we show-both theoretically and experimentally-that pledges can be used to screen donors and to better understand their motives for giving. In return, nonprofit managers can use the information they glean from pledges to better target future charitable giving appeals and interventions to donors, such as expressions of gratitude. In an experiment, we find that offering the option to pledge gifts induces self-selection. I...
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作者：Osadchiy, Nikolay; Schmidt, William; Wu, Jing
作者单位：Emory University; Cornell University; Chinese University of Hong Kong
摘要：We offer a new network perspective on one of the central topics in operations management-the bullwhip effect (BWE). The topic has both practical and scholarly implications. We start with an observation: the variability of orders placed to suppliers is larger than the variability of sales to customers for most firms, yet the aggregate demand variability felt by suppliers upstream does not amplify commensurably. We hypothesize that changes to the supplier's customer base can smooth out its aggre...
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作者：Powers, Eric
作者单位：University of South Carolina System; University of South Carolina Columbia
摘要：There is substantial variation in fixed-price call provision terms-call price premium and call protection. I investigate determinants of call price, call protection, and estimated call option value. Consistent with agency theory and asymmetric information models, I find that lower credit quality and opaque issuers choose higher call premiums, longer call protection, and overall less valuable call options. Higher-quality issuers, particularly financial institutions that struggle when interest r...
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作者：Kruse, Thomas; Schneider, Judith C.; Schweizer, Nikolaus
作者单位：Justus Liebig University Giessen; Leuphana University Luneburg; University of Munster; Tilburg University
摘要：This paper assembles a toolkit for the assessment of model risk when model uncertainty sets are defined in terms of an F-divergence ball around a reference model. We propose a new family of F-divergences that are easy to implement and flexible enough to imply convincing uncertainty sets for broad classes of reference models. We use our theoretical results to construct concrete examples of divergences that allow for significant amounts of uncertainty about lognormal or heavy-tailed Weibull refe...
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作者：Augustin, Patrick; Tedongap, Romeo
作者单位：McGill University; McGill University; ESSEC Business School
摘要：We solve a dynamic equilibrium model with generalized disappointmentaversion preferences and continuous state-endowment dynamics. We apply the framework to the term structure of interest rates and show that the model generates an upwardsloping term structure of nominal interest rates and a downward-sloping term structure of real interest rates and that it accounts for the failure of the expectations hypothesis. The key ingredients are preferences with disappointment aversion, preference for ea...
