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作者：Hoffmann, Florian; Inderst, Roman; Ottaviani, Marco
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Goethe University Frankfurt; Bocconi University
摘要：This paper models how firms or political campaigners (senders) persuade consumers and voters (receivers) by selectively disclosing information about their offering depending on individual receivers' preferences and orientations. We derive positive and normative implications depending on the extent of competition among senders, whether receivers are wary of senders collecting personalized data, and whether firms are able to personalize prices. We show how both senders and receivers can benefit ...
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作者：Baldassi, Carlo; Cerreia-Vioglio, Simone; Maccheroni, Fabio; Marinacci, Massimo; Pirazzini, Marco
作者单位：Bocconi University; Bocconi University; Bocconi University; Bocconi University
摘要：In this paper, we provide an axiomatic foundation for the value-based version of the drift diffusion model (DDM) of Ratcliff, a successful model that describes two-alternative speeded decisions between consumer goods. Our axioms present a test for model misspecification and connect the externally observable properties of choice with an important neurophysiologic account of how choice is internally implemented. We then extend our axiomatic analysis to multialternative choice under time pressure...
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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：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：Honhon, Dorothee; Hyndman, Kyle
作者单位：University of Texas System; University of Texas Dallas
摘要：We study how three matching institutions, differing in how relationships are dissolved, affect cooperation in a repeated prisoner's dilemma and how cooperation rates are affected by the presence of a reputation mechanism. Although cooperation is theoretically sustainable under all institutions, we show experimentally that cooperation rates are lowest under random matching, highest under fixed matching, and intermediate in a flexible matching institution, where subjects have the option to disso...
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作者：Pennycook, Gordon; Bear, Adam; Collins, Evan T.; Rand, David G.
作者单位：University of Regina; Harvard University; Yale University; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：What can be done to combat political misinformation? One prominent intervention involves attaching warnings to headlines of news stories that have been disputed by third-party fact-checkers. Here we demonstrate a hitherto unappreciated potential consequence of such a warning: an implied truth effect, whereby false headlines that fail to get tagged are considered validated and thus are seen as more accurate. With a formal model, we demonstrate that Bayesian belief updating can lead to such an i...
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作者：Bracha, Anat
作者单位：Hebrew University of Jerusalem
摘要：Prospect Theory's value function suggests that investors would be risk averse in the gain domain and risk seeking in the loss domain-that is, the reflection effect. However, most of the experimental evidence relies on choice tasks in the gain domain between prospects marked in dollar amounts and considering non-mixed lotteries. There is not much work that examines environments with properties typical in investment decisions where the task is fund allocation involving mixed lotteries with outco...
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作者：Khan, Urooj; Nallareddy, Suresh; Rouen, Ethan
作者单位：Columbia University; Duke University; Harvard University
摘要：We investigate the relation between corporate performance and overall economic growth in the United States. In particular, we focus on the impact of the U.S. corporate tax regime on this relation. Exploiting time-series variation and a tax shock, we document that the relatively higher corporate income tax rate and the tax treatment of foreign earnings of U.S. corporations have contributed to a disconnect between the performance of the corporate sector and the overall economy. Specifically, the...
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作者：Levine, Ross; Lin, Chen; Wang, Zigan
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; University of Hong Kong
摘要：Does the predeal geographic overlap of the branches of two banks affect the probability that they merge, postannouncement stock returns, and postmerger performance? We compile information on U.S. bank acquisitions from 1984 through 2016, construct several measures of network overlap, and design and implement a new identification strategy. We find that greater predeal network overlap (1) increases the likelihood that two banks merge; (2) boosts the cumulative abnormal returns of the acquirer, t...
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作者：Gaur, Vishal; Martinez-de-Albeniz, Victor; Song, Jeannette; Swaminathan, Jayashankar
作者单位：Cornell University; University of Navarra; IESE Business School; Duke University; University of North Carolina; University of North Carolina Chapel Hill
