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作者：Shen, Ji; Wei, Bin; Yan, Hongjun
作者单位：Peking University; Federal Reserve System - USA; Federal Reserve Bank - Atlanta; DePaul University
摘要：We analyze financial intermediation chains in a search economy that is populated by investors with heterogeneous valuations of an asset. In equilibrium, investors with moderate valuations choose to be intermediaries, and those with extreme valuations are their customers. The average length of intermediation chains is shown to be decreasing in search cost, search speed, and market size but increasing in investors' trading needs. These predictions are distinct from those implied by existing mode...
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作者：Liu, Xiaotao (Kelvin); Wu, Biyu
作者单位：Northeastern University; U.S. Securities & Exchange Commission (SEC); University of Nebraska System; University of Nebraska Lincoln
摘要：This study investigates whether initial public offering (IPO) firms inflate core earnings through classification shifting (i.e., misclassifying core expenses as income-decreasing special items) immediately prior to IPOs. We provide initial evidence that IPO firms engage in classification shifting in the pre-IPO period. Using hand-collected price and share information from IPO prospectuses, we find that pre-IPO classification shifting is positively associated with a price revision from the midp...
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作者：Black, Dirk E.; Vance, Marshall D.
作者单位：University of Nebraska System; University of Nebraska Lincoln; Virginia Polytechnic Institute & State University
摘要：This paper examines whether and for how long managers' initial assessments of employee ability influence promotion decisions. Using archival data from minor league professional baseball, we find that, controlling for performance, initial assessments are associated with promotion decisions for at least six years after the initial assessments were made. We also find that initial assessments are positively associated with future performance at the outset of a player's career, but the association ...
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作者：Li, Yufeng; Meng, Juanjuan; Song, Changcheng; Zheng, Kai
作者单位：Capital Medical University; Peking University; Singapore Management University; University of California System; University of California Irvine
摘要：Will individuals, especially high-risk individuals, avoid a disease test because of information avoidance? We conduct a field experiment to investigate this issue. We vary the price of a diabetes test (price experiment) and offer both a diabetes test and a cancer test (disease experiment) after eliciting participants' subjective beliefs about their disease risk. We find evidence that, first, some people avoid the test even when there is neither a monetary nor a transaction cost, and second, bo...
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作者：Ransbotham, Sam; Overby, Eric M.; Jernigan, Michael C.
作者单位：Boston College; University System of Georgia; Georgia Institute of Technology; Harvard University; Harvard University Medical Affiliates; Massachusetts General Hospital; Harvard University; Harvard Medical School
摘要：Information systems generate copious trace data about what individuals do and when they do it. Trace data may affect the resolution of lawsuits by, for example, changing the time needed for legal discovery. Trace data might speed resolution by clarifying what events happened when, or they might slow resolution by generating volumes of new and potentially irrelevant data that must be analyzed. To investigate this, we analyze the effect of electronic medical records (EMRs) on malpractice claim r...
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作者：Beshears, John; Lee, Hae Nim; Milkman, Katherine L.; Mislavsky, Robert; Wisdom, Jessica
作者单位：Harvard University; University of Pennsylvania; Johns Hopkins University; Alphabet Inc.; Google Incorporated
摘要：Habits involve regular, cue-triggered routines. In a field experiment, we tested whether incentivizing exercise routines-paying participants each time they visit the gym within a planned, daily two-hour window-leads to more persistent exercise than offering flexible incentives-paying participants each day they visit the gym, regardless of timing. Routine incentives generated fewer gym visits than flexible incentives, both during our intervention and after incentives were removed. Even among su...
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作者：Liu, Sheng; He, Long; Shen, Zuo-Jun Max
作者单位：University of Toronto; National University of Singapore; University of California System; University of California Berkeley; University of California System; University of California Berkeley
摘要：We study how delivery data can be applied to improve the on-time performance of last-mile delivery services. Motivated by the delivery operations and data of a food delivery service provider, we discuss a framework that integrates travel-time predictors with order-assignment optimization. Such integration enables us to capture the driver's routing behavior in practice as the driver's decision-making process is often unobservable or intricate to model. Focusing on the order-assignment problem a...
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作者：Cullen, Zoe; Farronato, Chiara
作者单位：Harvard University; National Bureau of Economic Research
摘要：We study the growth of online peer-to-peer markets. Using data from TaskRabbit, an expanding marketplace for domestic tasks at the time of our study, we show that growth varies considerably across cities. To disentangle the potential drivers of growth, we look separately at demand and supply imbalances, network effects, and geographic heterogeneity. First, we find that supply is highly elastic: in periods when demand doubles, sellers perform almost twice as many tasks, prices hardly increase, ...
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作者：Karaman, Hulya
作者单位：Singapore Management University
摘要：Representative online customer reviews are critical to the effective functioning of the Internet economy. In this study, I investigate the representativeness of online review distributions to examine how extremity bias and conformity impact it and explore whether online review solicitations alter representativeness. Past research on extreme distribution of online ratings commonly relied solely on observed public online ratings. One strength of the current paper is that I observe the private sa...
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作者：Bellstam, Gustaf; Bhagat, Sanjai; Cookson, J. Anthony
作者单位：Facebook Inc; University of Colorado System; University of Colorado Boulder
摘要：We develop a new measure of innovation using the text of analyst reports of S&P 500 firms. Our text-based measure gives a useful description of innovation by firms with and without patenting and R&D (research and development). For nonpatenting firms, the measure identifies innovative firms that adopt novel technologies and innovative business practices (e.g., Walmart's cross-geography logistics). For patenting firms, the text-based measure strongly correlates with valuable patents, which likel...
