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作者：Grosskopf, Brit; Pearce, Graeme
作者单位：University of Exeter
摘要：We present a natural field experiment designed to measure other-regarding preferences in the market for taxis. We employed testers of varying ethnicity to take a number of predetermined taxi journeys. In each case, we endowed them with only 80% of the expected fare. Testers revealed the amount they could afford to pay to the driver midjourney and asked for a portion of the journey for free. In a 2 x 2 between-subjects design, we vary the length of the journey and whether a business card is eli...
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作者：Song, Jing-Sheng; Zhang, Yue
作者单位：Duke University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We present a general framework to study the design of spare parts logistics in the presence of three-dimensional (3-D) printing technology. We consider multiple parts facing stochastic demands and adopt procure/manufacture-to-stock versus print-on-demand to highlight the main difference of production modes featured in traditional manufacturing and 3-D printing. To minimize long-run average system cost, our model determines which parts to stock and which to print. We find that the optimal 3-D p...
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作者：Baillon, Aurelien; Bleichrodt, Han; Spinu, Vitalie
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Australian National University
摘要：Although reference dependence plays a central role in explaining behavior, little is known about the way that reference points are selected. This paper identifies empirically which reference point people use in decision under risk. We assume a comprehensive reference-dependent model that nests the main reference-dependent theories, including prospect theory, and that allows for isolating the reference point rule from other behavioral parameters. Our experiment involved high stakes with payoffs...
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作者：Lou, Yun; Otto, Clemens A.
作者单位：Singapore Management University; Singapore Management University
摘要：Coordination failure among owners of heterogeneous debt types increases distress costs. Covenants reduce expected distress costs by lowering the probability of liquidity shortages, increasing liquidation values, and incentivizing creditor monitoring. We predict and find that new debt contracts include more covenants when borrowers' existing debt structures are more heterogeneous. Our findings suggest that covenants are not only used to address creditor-shareholder conflicts but also to reduce ...
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作者：Gartenberg, Claudine; Wulf, Julie
作者单位：University of Pennsylvania; National Bureau of Economic Research
摘要：How does market competition affect pay inequality between and within firms? Using division managers as a pool of similar workers and the Canada-U.S. Free Trade Agreement, we find that greater competition increases overall pay inequality between, but not within, firms. This null effect within firms is not driven by a lack of statistical power. Instead, we find that it arises primarily within subsamples of firms with higher predicted levels of social comparison. Increased competition leads to gr...
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作者：Zou, Tianxin; Zhou, Bo; Jiang, Baojun
作者单位：State University System of Florida; University of Florida; University System of Maryland; University of Maryland College Park; Washington University (WUSTL)
摘要：Consumers are often uncertain about their valuations for product quality when choosing among different products and will learn their valuations only after buying and using a product. Some consumers may thus experience overpurchase or underpurchase regret, depending on whether they have purchased a higheror lower-quality level than what they would have chosen had they known their true valuations. When consumers anticipate their potential postpurchase regret, their purchase decisions may be affe...
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作者：Chen, Zhijun; Choe, Chongwoo; Matsushima, Noriaki
作者单位：Monash University; Monash University; University of Osaka
摘要：We study a model where each competing firm has a target segment where it has full consumer information and can exercise personalized pricing, and consumers may engage in identity management to bypass the firm's attempt to price discriminate. In the absence of identity management, more consumer information intensifies competition because firms can effectively defend their turf through targeted personalized offers, thereby setting low public prices offered to nontargeted consumers. But the effec...
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作者：Huang, Shiyang; Hwang, Byoung-Hyoun; Lou, Dong; Yin, Chengxi
作者单位：University of Hong Kong; Cornell University; Korea University; University of London; London School Economics & Political Science; Center for Economic & Policy Research (CEPR); University of International Business & Economics
摘要：We propose that investor beliefs frequently cross in the sense that an investor may like company A but dislike company B, whereas another investor may like company B but dislike company A. Such belief-crossing makes it almost impossible to construct a portfolio that is composed solely of every investor's most favored companies. This causes the level of excitement for portfolios to be generally lower than the levels of excitement that individual companies generate among their most fervent suppo...
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作者：Rusmevichientong, Paat; Sumida, Mika; Topaloglu, Huseyin
作者单位：University of Southern California
摘要：We consider dynamic assortment problems with reusable products, in which each arriving customer chooses a product within an offered assortment, uses the product for a random duration of time, and returns the product back to the firm to be used by other customers. The goal is to find a policy for deciding on the assortment to offer to each customer so that the total expected revenue over a finite selling horizon is maximized. The dynamic-programming formulation of this problem requires a high-d...
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作者：Kadiyala, Bharadwaj; Ozer, Ozaip; Bensoussan, Alain
作者单位：Hong Kong University of Science & Technology; University of Texas System; University of Texas Dallas
摘要：This paper studies an inventory management problem faced by an upstream supplier that is in a collaborative agreement, such as vendor-managed inventory (VMI), with a retailer. A VMI partnership provides the supplier an opportunity to manage inventory for the supply chain in exchange for point-of-sales (POS)- and inventory-level information from the retailer. However, retailers typically possess superior local market information and as has been the case in recent years, are able to capture and ...
