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作者：Momot, Ruslan; Belavina, Elena; Girotra, Karan
作者单位：Hautes Etudes Commerciales (HEC) Paris; Cornell University
摘要：We consider the use and value of social-network information in selectively selling goods and services whose value derives from exclusive ownership among network connections or friends. Our model accommodates customers who are heterogeneous in their number of friends (degree) and their proclivity for social comparisons (conspicuity). Firms with information on either (or both) of these characteristics can use it to make the product selectively available and to personalize prices. We find that fi...
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作者：Cui, Ruomeng; Li, Jun; Zhang, Dennis J.
作者单位：Emory University; University of Michigan System; University of Michigan; Washington University (WUSTL)
摘要：Recent research has found widespread discrimination by hosts against guests of certain races in online marketplaces. In this paper, we explore ways to reduce such discrimination using online reputation systems. We conducted four randomized field experiments among 1,801 hosts on Airbnb by creating fictitious guest accounts and sending accommodation requests to them. We find that requests from guests with African American-sounding names are 19.2 percentage points less likely to be accepted than ...
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作者：Ertimur, Yonca; Francis, Jennifer; Gonzales, Amanda; Schipper, Katherine
作者单位：University of Colorado System; University of Colorado Boulder; Duke University; University of Nebraska System; University of Nebraska Lincoln
摘要：We develop a conceptually grounded approach, based on the International Accounting Standards Board's conceptual framework, to the accounting for the rights and obligations embodied in a cap-and-trade program. Under this approach, firms recognize allowances as intangible assets, initially measured at fair value with a credit to cash for purchased allowances and to a current period gain for allocated allowances; firms recognize current period expense and accrue liabilities, at fair value, as the...
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作者：Kesavan, Saravanan; Kushwaha, Tarun
作者单位：University of North Carolina; University of North Carolina Chapel Hill; George Mason University
摘要：Data-driven decision-making (DDD) is rapidly transforming modern operations. The availability of big data, advances in data analytics tools, and rapid gains in processing power enable firms to make decisions based on data rather than intuition. Yet, most firms still allow managers to override decisions from DDD tools, as managers might possess private information not present in the DDD tool. We report on a field-experiment conducted by an automobile replacement parts retailer that examines the...
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作者：Li, Shan; Chen, Kay-Yut; Rong, Ying
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); University of Texas System; University of Texas Arlington; Shanghai Jiao Tong University
摘要：Compensation systems have rapidly been shifting away from a fixed wage contractual payment basis. Many companies today are creating incentive compensation contracts to reward hard-working employees for jobs done well. Profit sharing (sharing compensation contract) and target with bonus (target compensation contract) are two common performance-based compensation contracts prevalent in business. We theoretically and behaviorally study the sharing and target compensation contracts in an operation...
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作者：Riley, Christopher; Summers, Barbara; Duxbury, Darren
作者单位：University of Leicester; University of Leeds; Newcastle University - UK
摘要：Financial models incorporating a reference point, such as the Capital Gains Overhang (CGO) model, typically assume it is fixed at the purchase price. Combining experimental and market data, this paper examines whether such models can be improved by incorporating reference-point adjustment. Using real stock prices over horizons from 6 months to 5 years, experimental evidence demonstrates that a number of salient points in the prior share price path are key determinants of the reference point, i...
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作者：Capponi, Agostino; Glasserman, Paul; Weber, Marko
作者单位：Columbia University; Columbia University; National University of Singapore
摘要：We develop a model of the feedback between mutual fund outflows and asset illiquidity. Following a market shock, alert investors anticipate the impact on a fund's net asset value (NAV) of other investors' redemptions and exit first at favorable prices. This first-mover advantage may lead to fund failure through a cycle of falling prices and increasing redemptions. Our analysis shows that (i) the first-mover advantage introduces a nonlinear dependence between a market shock and the aggregate im...
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作者：Gutierrez, Elizabeth; Lourie, Ben; Nekrasov, Alexander; Shevlin, Terry
作者单位：Universidad de Chile; University of California System; University of California Irvine; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：Human capital is a key factor in value creation in the modern corporation. Yet the disclosure of investment in human capital is scant. We propose that a company's online job postings are disclosures made outside of the investor-relations channel that contain forward-looking information that could be informative to investors about future growth. We find that changes in the number of job postings are positively associated with changes in future performance and that this relation is stronger when...
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作者：Liu, Jiayi; Bharadwaja, Anandhi
作者单位：Emory University
摘要：The United States is in the midst of a drug overdose epidemic. Although the online availability of drugs has been a growing concern with considerable speculation that digital platforms are contributing to this epidemic, empirical assessments have been lacking. To quantify this impact, we rely on the phased rollout of Craigslist, a major online platform, as an experimental setup. Applying a difference-in-differences approach on a national panel data set for all counties in the United States fro...
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作者：Han, Shu; Ravid, S. Abraham
作者单位：Yeshiva University; Lund University
摘要：Theater shows routinely turn over actors in lead roles. Otherwise, the show stays the same, including the director, the script, other actors and, the physical theater environment Even the lines performed do not change the set. Therefore, the theater provides a unique laboratory for assessing the value of human capital to an enterprise, a question that has been studied in other contexts, including the CEO value literature. We compare revenues, capacity, and ticket prices just before and just af...
