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作者：Alizamir, Saed; de Vericourt, Francis; Wang, Shouqiang
作者单位：Yale University; European School of Management & Technology; University of Texas System; University of Texas Dallas
摘要：The World Health Organization seeks effective ways to alert its member states about global pandemics. Motivated by this challenge, we study a public agency's problem of designing warning policies to mitigate potential disasters that occur with advance notice. The agency privately receives early information about recurring harmful events and issues warnings to induce an uninformed stakeholder to take preemptive actions. The agency's decision to issue a warning critically depends on its reputati...
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作者：Khapko, Mariana; Zoican, Marius
作者单位：University of Toronto; University Toronto Scarborough; University of Toronto; University Toronto Mississauga
摘要：Recent regulatory and industry initiatives aim to streamline post-trade infrastructures. Does faster settlement benefit markets? We build a model of intermediated trading with imperfectly competitive securities lending. Faster settlement benefits impatient traders but increases borrowing needs. We find that flexible failure-to-deliver penalties reduce this tension, disciplining security lender competition and allowing for real-time settlement. Optimal penalties resemble put options on the lend...
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作者：Whitaker, Amy; Kraussl, Roman
作者单位：New York University; University of Luxembourg; Stanford University
摘要：A core challenge in studying the real return on artist' work is the extreme difficulty accessing private records from when an artwork was first sold and thus relying on public auction data. In addition, artists do not typically receive proceeds after the initial sale. This paper, for the first time, uses archivally sourced primary market records to model returns on art and introduces a novel fractional equity structure for artists. We first model what would happen if the American artists Jaspe...
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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：Haviv, Avery; Huang, Yufeng; Li, Nan
作者单位：University of Rochester; Tongji University
摘要：YMany platform strategies focus on indirect network effects between sellers through platform expansion. In this paper, we show sellers on the console video game platform generate a positive intertemporal spillover effect and expand the demand for other sellers, holding the set of platform adopters fixed. We propose a novel identification strategy that leverages exogenous variation in the release timing of games exclusively available on a console platform, and examine how this variation affects...
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作者：Mamadehussene, Samir
作者单位：Universidade Catolica Portuguesa
摘要：This paper analyzes price comparison platforms' equilibrium design of their search environments, namely the order under which firms are displayed (having a prominent firm or listing firms randomly) and how much price complexity firms are able to use. It is found that (1) the possibility to obfuscate amplifies firms' willingness to pay for the prominent position; (2) when platforms sell prominence, they optimally allow for more obfuscation than they would if they were to display firms randomly;...
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作者：Decarolis, Francesco; Goldmanis, Maris; Penta, Antonio
作者单位：Bocconi University; Bocconi University; University of London; Royal Holloway University London; ICREA; Pompeu Fabra University; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：The transition of the advertising market from traditional media to the internet has induced a proliferation of marketing agencies specialized in bidding in the auctions that are used to sell ad space on the web. We analyze how collusive bidding can emerge from bid delegation to a common marketing agency and how this can undermine the revenues and allocative efficiency of both the generalized second-price auction (GSP, used by Google, Microsoft Bing, and Yahoo!) and the Vickrey-Clarke-Groves (V...
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作者：Foerderer, Jens
作者单位：Technical University of Munich; University of Mannheim
摘要：Platform firms' success depends on complementary innovation. This paper studies the relation between opportunities for interfirm exchange and complementary innovation. An empirical study of a sample of app developer firms attending Apple's 2016 Worldwide Developers Conference suggests three findings. First, the opportunity to exchange stimulated innovation in the formofmajor app updates that received positive consumer feedback. Second, the effects were more pronounced for older and larger firm...
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作者：Diwas, S. K. C.; Staats, Bradley R.; Kouchaki, Maryam; Gino, Francesca
作者单位：Emory University; University of North Carolina; University of North Carolina Chapel Hill; Northwestern University; Harvard University
摘要：How individuals manage, organize, and complete their tasks is central to operations management. Recent research in operations focuses on how under conditions of increasing workload individuals can decrease their service time, up to a point, to complete work more quickly. As the number of tasks increases, however, workers may also manage their workload by a different process-task selection. Drawing on research on workload, individual discretion, and behavioral decision making, we theorize and t...
