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作者：Dai, Tinglong; Ke, Rongzhu; Ryan, Christopher Thomas
作者单位：Johns Hopkins University; Zhejiang University; University of British Columbia
摘要：A firm hires an agent (e.g., a store manager) to undertake both operational and marketing tasks. Marketing tasks boost demand, but for demand to translate into sales, operational effort is required to maintain adequate inventory. The firm designs a compensation plan to induce the agent to put effort into both marketing and operations while facing demand censoring (i.e., demand in excess of available inventory is unobservable). We formulate this incentive-design problem in a principal-agent fra...
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作者：Bhargava, Hemant K.
作者单位：University of California System; University of California Davis
摘要：Many markets feature an economic structure in which value is cocreated by multiple producers and aggregated into a common bundle by a producer-consortium or independent firm. Examples include in-home video entertainment, technology goods and services, multisourced data platforms, and patent pools. This paper develops an economic model to study demand, production choices, revenue sharing, and relative market power in such markets. Producers in these markets are not rivalrous competitors in the ...
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作者：Heitzman, Shane; Klasa, Sandy
作者单位：University of Southern California; University of Arizona
摘要：Theory provides competing predictions on whether informed investors immediately trade on newly generated private information. We address this question using Securities and Exchange Commission-mandated disclosures to identify the dates when new private information about target or acquiring firm value is created. We find that informed investors immediately trade on new private information in both the stock and options markets. Next, we investigate which factors drive the speed of these investors...
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作者：Ibrahim, Rouba; Kim, Song-Hee; Tong, Jordan
作者单位：University of London; University College London; University of Southern California; University of Wisconsin System; University of Wisconsin Madison
摘要：Even when human point forecasts are less accurate than data-based algorithm predictions, they can still help boost performance by being used as algorithm inputs. Assuming one uses human judgment indirectly in this manner, we propose changing the elicitation question from the traditional direct forecast (DF) to what we call the private information adjustment (PIA): how much the human thinks the algorithm should adjust its forecast to account for information the human has that is unused by the a...
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作者：Akkus, Oktay; Cookson, J. Anthony; Hortacsu, Ali
作者单位：University of Colorado System; University of Colorado Boulder; University of Chicago
摘要：Using a tractable structural model of the matching equilibrium between underwriters and equity-issuing firms, we study the determinants of value in underwriter-firm relationships. Our estimates imply that high underwriter prestige is associated with 5.3%-14.1% greater equilibrium surplus. According to the structural model, high prestige exhibits a significant certification effect throughout the sample (1985-2010), but there is also a countervailing effect of underwriter prestige that reflects ...
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作者：Pennesi, Daniele
作者单位：University of Turin
摘要：Exposure to environmental cues triggers sudden preference reversals in several choice contexts, including consumption and intertemporal, social, and risky choices. This paper introduces a dual-self model of cue-triggered behavior that (1) is based on a general mechanism that makes it applicable to many choice contexts, (2) allows a sharp comparative analysis of the responsiveness to cues, (3) can explain a wide range of behavioral anomalies, from a cue-triggered present bias to high-frequency ...
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作者：Caro, Felipe; Lane, Leonard; Cuenca, Anna Saez de Tejada
作者单位：University of California System; University of California Los Angeles; University of California System; University of California Irvine; University of Navarra; IESE Business School
摘要：Unauthorized subcontracting-when suppliers outsource part of their production to a third party without the retailer's consent-has been common practice in the apparel industry and is often tied to noncompliant working conditions. Because retailers are unaware of the third party, the production process becomes obscure and cannot be tracked. In this paper, we present an empirical study of the factors that can lead suppliers to engage in unauthorized subcontracting. We use data provided by a globa...
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作者：Cornelius, Philipp B.; Gokpinar, Bilal; Sting, Fabian J.
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; University of London; University College London; University of Cologne
摘要：Shop-floor employees play a key role in manufacturing innovation. In some companies, up to 75% of all productivity gains are the result of bottom-up employee ideas. In this paper, we examine how employee interplant assignments-short problem-solving jobs at other manufacturing plants within the same firm-influence employee-driven manufacturing innovation. Using unique idea-level data from a large European car parts manufacturer, we show that interplant assignments significantly increase the val...
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作者：Bricker, Jesse; Krimmel, Jacob; Ramcharan, Rodney
作者单位：Federal Reserve System - USA; University of Pennsylvania; University of Southern California
摘要：This paper investigates the importance of status in household consumption and credit decisions using data from the Survey of Consumer Finances linked to tract-level data in the American Community Survey. We find that relatively richer households in the census tract use more debt and spend more on high-status cars. Also, county-level evidence shows that the consumption of high-status cars is higher in more unequal counties. These results suggest that greater income heterogeneity might shape hou...
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作者：Govindarajan, Aravind; Sinha, Amitabh; Uichanco, Joline
作者单位：Amazon.com; University of Michigan System; University of Michigan
摘要：We study a multilocation newsvendor network when the only information available on the joint distribution of demands are the values of its mean vector and covariance matrix. We adopt a distributionally robust model to find inventory levels that minimize the worst-case expected cost among the distributions consistent with this information. This problem is NP-hard. We find a closed-form tight bound on the expected cost when there are only two locations. This bound is tight under a family of join...
