4期

最新文章

• Platforms and the Exploration of New Products AI翻译
  作者：Hagiu, Andrei; Wright, Julian
  作者单位：Boston University; National University of Singapore
  摘要：A key strategic decision for platforms is the extent to which they should facilitate the entry of untested new products and sellers alongside established products and sellers. Exploration by current buyers helps future buyers better value these products and sellers. This externality across buyers raises the possibility that there may be too little exploration from the platform's perspective. On the other hand, when sellers have market power and so price strategically, and platforms extract a s...
• Incorporating a Better Behavioral Bias for Both Consumers and Firms in Rebate Programs AI翻译
  作者：Chung, Kevin
  作者单位：University of Wisconsin System; University of Wisconsin Madison
  摘要：We study a rebate program in the credit card industry where the firm automatically processed the rebate earned by consumers with flexible and effortless redemption opportunities in future transactions. Contrary to what the normative economic theory would predict, we document that consumers frequently failed to redeem their rebate. Given this observation, we examine what may have been the primary driving force behind this pattern and the implications for the firm. We provide evidence that the p...
• High-Performance Practice Processes AI翻译
  作者：Roels, Guillaume
  作者单位：INSEAD Business School
  摘要：Despite their idiosyncrasies, motor and cognitive learning and endurance sports training have in common that they involve repeated practice. While considerable research has been devoted to the effect of practice on performance, little is known about optimal practice strategies. In this paper, we model the practice process for both skill acquisition and retention, and optimize its profile to maximize performance on a predefined date. For skill acquisition, we find that the optimal process invol...
• The Effect of Auditing on Promoting Exports: Evidence from Private Firms in Emerging Markets AI翻译
  作者：Cheng, C. S. Agnes; Sun, Weihang; Ye, Kangtao; Zhang, Ning
  作者单位：Hong Kong Polytechnic University; Shanghai University of Finance & Economics; Renmin University of China; Queens University - Canada
  摘要：We investigate the effect of auditing on promoting exports for private firms in emerging markets. Using a sample of private firms from 125 countries between 2006 and 2015, we show that firms that have their financial statements audited have more exports than firms that do not have their financial statements audited. To infer causality, we employ a regression discontinuity design (RDD). Using the discontinuity around the mandatory financial audit threshold, we find that firms slightly above the...
• Information Aggregation and P-Hacking AI翻译
  作者：Rytchkov, Oleg; Zhong, Xun
  作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; Fordham University
  摘要：This paper studies the interplay between information aggregation and p-hacking in the context of predicting stock returns. The standard information-aggregation techniques exacerbate p-hacking by increasing the probability of the type I error. We propose an aggregation technique that is a simple modification of three-pass regression filter/ partial least squares regression with an opposite property: the predictability tests applied to the combined predictor become more conservative in the prese...
• Facilitating Inclusive Global Trade: Evidence from a Field Experiment AI翻译
  作者：Hui, Xiang
  作者单位：Washington University (WUSTL)
  摘要：How can we make global trade inclusive for smaller sellers and firms? I present causal evidence that a major e-commerce platform increases on-site exports from small sellers through integrating an existing administrative and logistic service. The export increase comes exclusively from small sellers and exclusively along the extensive margin-that is, from new sellers or new destinations. Furthermore, the export increase is larger for more distant countries and differentiated products. I provide...
• Paying for Performance in Private Equity: Evidence from Venture Capital Partnerships AI翻译
  作者：Huther, Niklas; Robinson, David T.; Sievers, Sonke; Hartmann-Wendels, Thomas
  作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington; Duke University; National Bureau of Economic Research; University of Paderborn; University of Cologne
  摘要：We offer the first empirical analysis connecting the timing of general partner (GP) compensation to private equity fund performance. Using detailed information on limited partnership agreements between private equity limited and general partners, we find that GP-friendly contracts-agreements that pay general partners on a deal-by-deal basis instead of withholding carried interest until a benchmark return has been earned- are associated with higher returns, both gross and net of fees. This is r...
• Revisiting Approximate Linear Programming: Constraint-Violation Learning with Applications to Inventory Control and Energy Storage AI翻译
  作者：Lin, Qihang; Nadarajah, Selvaprabu; Soheili, Negar
  作者单位：University of Iowa; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
  摘要：Approximate linear programs (ALPs) are well-known models for computing value function approximations (VFAs) of intractable Markov decision processes (MDPs). VFAs from ALPs have desirable theoretical properties, define an operating policy, and provide a lower bound on the optimal policy cost. However, solving ALPs near-optimally remains challenging, for example, when approximating MDPs with nonlinear cost functions and transition dynamics or when rich basis functions are required to obtain a go...
• The Similarity Network of Motion Pictures AI翻译
  作者：Wei, Yanhao Max
  作者单位：University of Southern California
  摘要：Ideas are connected. New ideas are often seen as creative combinations of previous ideas. I study these connections in the context of motion pictures. A network of 4,445 movies is constructed to indicate which movies are similar. I first examine the properties of the network using descriptive and regression analysis; then I develop a model of network formation for counterfactual analysis. It is found that most movies imitate and evolve around a core of the more successful movies. In addition, ...
• A New Index of Housing Sentiment AI翻译
  作者：Bork, Lasse; Moller, Stig, V; Pedersen, Thomas Q.
  作者单位：Aalborg University; Aarhus University
  摘要：We propose a new measure for housing sentiment and show that it accurately tracks expectations of future house price growth rates. We construct the housing sentiment index using partial least squares on household survey responses to questions about buying conditions for houses. We find that housing sentiment explains a large share of the time variation in house prices during both boom and bust cycles, and it strongly outperforms several macroeconomic variables typically used to forecast house ...