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作者：Cong, Jiajia; Zhou, Wen
作者单位：Fudan University; University of Hong Kong
摘要：We study the value of commitment in a business environment that is both competitive and uncertain, in which two firms face stochastic demands and compete in positioning and repositioning. If the future demand tends to disperse or the demand uncertainty is sufficiently large, one firm chooses rigidity (i.e., commits not to change its positions), and the other chooses flexibility (i.e., to reposition freely). We find that a firm's rigidity can benefit not only itself, but also its flexible rival...
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作者：Barach, Moshe A.; Golden, Joseph M.; Horton, John J.
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：Platform marketplaces can potentially steer buyers to certain sellers by recommending or guaranteeing those sellers. Money-back guarantees-which create a direct financial stake for the platform in seller performance-might be particularly effective at steering as they align buyer and platform interests in creating a good match. We report the results of an experiment in which a platform marketplace-an online labor market-guaranteed select sellers for treated buyers. The presence of a guarantee s...
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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：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：Emadi, Seyed Morteza; Staats, Bradley R.
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：Worker attrition is a costly and operationally disruptive challenge throughout the world. Although large bodies of research have documented drivers of attrition and the operational consequences of attrition, managers still lack an integrated approach to understanding attrition and making decisions to address it on a forward-going basis. To fill this need, we build a structural model that both captures the firm's decision to terminate a worker's employment (involuntary attrition) and uses an op...
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作者：Filippas, Apostolos; Horton, John J.; Zeckhauser, Richard J.
作者单位：Fordham University; Massachusetts Institute of Technology (MIT); Harvard University
摘要：New Internet-based sharing-economy markets enable consumer-owners to rent out their durable goods to nonowners. We model such markets and explore their equilibria both in the short run, in which ownership decisions are fixed, and in the long run, in which ownership decisions can be changed. We find that sharing-economy markets always expand consumption and increase surplus, but may increase or decrease ownership. Regardless, ownership is decoupled from individual preferences in the long run, a...
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作者：Holzmeister, Felix; Huber, Jurgen; Kirchler, Michael; Lindner, Florian; Weitzel, Utz; Zeisberger, Stefan
作者单位：University of Innsbruck; Max Planck Society; Vrije Universiteit Amsterdam; Radboud University Nijmegen; Tinbergen Institute; University of Zurich
摘要：Risk is an integral part of many economic decisions and is vitally important in finance. Despite extensive research on decision making under risk, little is known about how risks are actually perceived by financial professionals, the key players in global financial markets. In a large-scale survey experiment with 2,213 finance professionals and 4,559 laypeople in nine countries representing similar to 50% of the world's population and more than 60% of the world's gross domestic product, we exp...
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作者：Drake, Michael; Joos, Peter; Pacelli, Joseph; Twedt, Brady
作者单位：Brigham Young University; INSEAD Business School; Indiana University System; Indiana University Bloomington; University of Oregon
摘要：Changing economic conditions over the past two decades have created incentives for sell-side analysts to both provide their institutional clients tiered services and to streamline their written research process. One manifestation of these changes is an increased likelihood of analysts' issuing earnings forecasts for multiple firms on the same day. We identify this bundling property and show that bundling has increased steadily over time. We provide field evidence that the practice is a cost-sa...
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作者：Song, Hummy; Tucker, Anita L.; Graue, Ryan; Moravick, Sarah; Yang, Julius J.
作者单位：University of Pennsylvania; Boston University; Harvard University; Harvard University Medical Affiliates; Beth Israel Deaconess Medical Center
摘要：Hospital managers struggle with the day-to-day variability in patient admissions to different clinical services, each of which typically has a fixed allocation of hospital beds. In response, many hospitals engage in capacity pooling by assigning patients from a service whose designated beds are fully occupied to an available bed in a unit designated for a different service. This off-service placement occurs frequently, yet its impact on patient and operational measures has not been rigorously ...
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作者：Cong, Lin William
作者单位：Cornell University
摘要：This paper endogenizes auction timing and initiation in auctions of real options. Because bidders have information rent, a seller faces a virtual strike price higher than the actual exercise cost. The seller inefficiently delays the auction to encourage bidder participation and uses the irreversible nature of time to gain partial control over option exercises. The seller's private benefit at option exercise may restore efficient auction timing, but option exercises are always inefficiently lat...
