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作者：Chung, Kevin; Kim, Keehyung; Lim, Noah
作者单位：University of Wisconsin System; University of Wisconsin Madison; Chinese University of Hong Kong; National University of Singapore
摘要：We model an expert review system where two producers competing for market share each are evaluated by two raters. Employing economics experiments, the paper examines how the rater's incentive to provide objective feedback can be distorted in the presence of social ties and different penalty structures for assigning unobjective ratings. The results reject the self-interested model. We find that raters assign more biased ratings to help the producer they know compete, and this distortion is exac...
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作者：Desir, Antoine; Goyal, Vineet; Segev, Danny; Ye, Chun
作者单位：INSEAD Business School; Columbia University; University of Haifa; Amazon.com
摘要：Assortment optimization is an important problem that arises in many practical applications such as retailing and online advertising. The fundamental goal is to select a subset of items to offer from a universe of substitutable items to maximize expected revenue when customers exhibit a random substitution behavior captured by a choice model. We study assortment optimization under the Markov chain choice model in the presence of capacity constraints that arise naturally in many applications. Th...
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作者：Jia, Ning; Rai, Arun; Xu, Sean Xin
作者单位：Tsinghua University; University System of Georgia; Georgia State University; University System of Georgia; Georgia State University; Tsinghua University
摘要：We investigate how firms use information technology (IT) implementation to mitigate an anomaly in capital markets: investors underreacting to new public information. The theory of information uncertainty (IU) suggests that the anomaly is amplified with IU; that is, with ambiguity in information about firm value. We theorize that a firm's IT in general- and enterprise systems (ES) in particular-can mitigate IU, thus reducing the NJ-induced underreaction anomaly. Based on a difference-in-differe...
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作者：Baek, Jiye; Shore, Jesse
作者单位：Korea University; Boston University
摘要：Promoting contribution of content is a key challenge for platforms that support the collective creation or transfer of knowledge. We use a field experiment on a massive open online course to study the role of forum size (number of people in a forum) in the contribution of content per person. We find that larger forums elicit more contributions per person. The number of questions and other help-seeking threads posted per person was unchanged by forum size, but replies and other more conversatio...
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作者：Kronlund, Mathias
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：This paper provides evidence of ratings shopping in the corporate bond market. By estimating systematic differences in agencies' biases about any given firm's bonds, I show that new bonds are more likely to be rated by agencies that are positively biased toward the firm-a pattern that is strongest among bonds that have only one rating. The paper also shows that issuers often delay less favorable ratings until after a bond is sold. Consistent with theoretical models of ratings shopping, these e...
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作者：Masulis, Ronald W.; Pham, Peter K.; Zein, Jason
作者单位：University of New South Wales Sydney
摘要：Using data from 44 countries, we document a new channel through which a family business group's internal capital market supports its members. We find that groups use internal capital to incubate difficult-to-finance projects, making it feasible for them to rapidly scale up, thus facilitating their initial public offering (IPO) market access. This IPO support role is particularly valuable when groups find capital-raising through seasoned equity offerings less attractive because of control-reten...
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作者：Liao, Pei-Cheng; Radhakrishnan, Suresh
作者单位：National Taiwan University; University of Texas System; University of Texas Dallas
摘要：We examine the near-privity rule that increases the auditor's legal liability exposure by considering a debtholder who can sue the auditor and recover damages when there is an audit failure. We show that the increase in the auditor's legal liability induces the auditor to choose more informative and more conservative efforts. Although the increased informative effort has a favorable spillover effect that increases the equityholder's expected payoff, the increased conservative effort induces a ...
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作者：Simester, Duncan; Timoshenko, Artem; Zoumpoulis, Spyros I.
作者单位：Massachusetts Institute of Technology (MIT); INSEAD Business School
摘要：Champion versus challenger field experiments are widely used to compare the performance of different targeting policies. These experiments randomly assign customers to receive marketing actions recommended by either the existing (champion) policy or the new (challenger) policy, and then compare the aggregate outcomes. We recommend an alternative experimental design and propose an alternative estimation approach to improve the evaluation of targeting policies. The recommended experimental desig...
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作者：Haruvy, Ernan; Katok, Elena; Pavlov, Valery
作者单位：McGill University; University of Texas System; University of Texas Dallas; University of Auckland
摘要：The behavioral literature has demonstrated that the format of supply chain contracts matters even when theoretically it should not and that contracts that in theory coordinate channels fail to do so in laboratory experiments. The existing body of experimental evidence uses an ultimatum bargaining protocol to test analytical models, but there is no reason to think that bargaining in supply chains is in the form of ultimatum offers. We investigate the effect of bargaining on contract performance...
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作者：Flores-Szwagrzak, Karol; Treibich, Rafael
作者单位：Copenhagen Business School; University of Southern Denmark
摘要：We propose a new method to disentangle individual from team productivity, CoScore. CoScore uses the varying membership and levels of success of all teams to simultaneously infer an individual's productivity and her credit for each of her teams' successes. Crucially, the productivities of all individuals are determined endogenously via the solution of a fixed point problem. We show that CoScore is well defined, and we provide axiomatic foundations for the inferred credit allocation. We illustra...
