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作者：Chu, Yongqiang; Tian, Xuan; Wang, Wenyu
作者单位：University of South Carolina System; University of South Carolina Columbia; Tsinghua University; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：In this paper, we document a positive effect of supplier-customer geographic proximity on supplier innovation. To establish causality, we explore plausibly exogenous variation in proximity caused by customer relocations. The positive effect of supplier-customer proximity on supplier innovation is stronger when customers are more innovative themselves, when suppliers and customers are closer in technological space, and when customers' demand accounts for a larger fraction of suppliers' total sa...
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作者：Bondareva, Mariya; Pinker, Edieal
作者单位：Yale University
摘要：We model the interaction of a single buyer with a single supplier within a market in a developing country with homogeneous local suppliers and homogeneous buyers from developed nations. The buyer sources a product from a supplier and then inspects and sells it on the market, subject to quality standards such as regulations about chemical content. Suppliers decide howmuch effort to exert to ensure compliance with quality standards. Buyers are assumed to comply with contracts because they are ba...
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作者：Cui, Ruomeng; Zhang, Dennis J.; Bassamboo, Achal
作者单位：Emory University; Washington University (WUSTL); Northwestern University
摘要：Many online retailers provide real-time inventory availability information. Customers can learn from the inventory level and update their beliefs about the product. Thus, consumer purchasing behavior may be impacted by the availability information. Based on a unique setting from Amazon lightning deals, which displays the percentage of inventory consumed in real time, we explore whether and how consumers learn from inventory availability information. Identifying the effect of learning on consum...
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作者：Stamatopoulos, Ioannis; Chehrazi, Naveed; Bassamboo, Achal
作者单位：University of Texas System; University of Texas Austin; Northwestern University
摘要：We argue that dynamic pricing motivated by the management of inventory holding and ordering costs leads to increased operational efficiencies that could benefit firms without hurting consumers. To demonstrate this point, we equip the traditional economic order quantity (EOQ) setting with a rich set of demand models and compare social outcomes under two alternatives, dynamic and static pricing. We show that dynamic pricing generates higher retailer profits, a lower average price per unit sold, ...
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作者：Bray, Robert L.
作者单位：Northwestern University
摘要：I present two algorithms for solving dynamic programs with exogenous variables: endogenous value iteration and endogenous policy iteration. These algorithms are always at least as fast as relative value iteration and relative policy iteration, and they are faster when the endogenous variables converge to their stationary distributions sooner than the exogenous variables.
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作者：Faccini, Renato; Konstantinidi, Eirini; Skiadopoulos, George; Sarantopoulou-Chiourea, Sylvia
作者单位：University of London; Queen Mary University London; University of Manchester; Alliance Manchester Business School; University of Piraeus; City St Georges, University of London; University of Warwick
摘要：We propose a new predictor of U.S. real economic activity (REA)-namely, the representative investor's implied relative risk aversion (IRRA) extracted from S&P 500 option prices. IRRA is forward-looking and hence is expected to be related to future economic conditions. We document that U.S. IRRA predicts U.S. REA both in- and out-of-sample once we control for well-known REA predictors and take into account their persistence. An increase (decrease) in IRRA predicts a decrease (increase) in REA. ...
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作者：Cooper, Ilan; Maio, Paulo
作者单位：BI Norwegian Business School; Hanken School of Economics
摘要：We show that recent prominent equity factor models are to a large degree compatible with the Intertemporal CAPM (ICAPM) framework. Factors associated with alternative profitability measures forecast the equity premium in a way that is consistent with the ICAPM. Several factors based on firms' asset growth predict a significant decline in stock market volatility, thus being consistent with their positive prices of risk. The investment-based factors are also strong predictors of an improvement i...
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作者：King, Gregory J.; Chao, Xiuli; Duenyas, Izak
作者单位：Gap Inc.; University of Michigan System; University of Michigan; University of Michigan System; University of Michigan
摘要：The rising cost of prescription drugs is a concern in the United States. To manage drug costs, insurance companies induce patients to choose less-expensive medications by making them pay higher copayments for more-expensive drugs, especially when multiple drug options are available to treat a condition. However, drug manufacturers have responded by offering copay coupons-coupons intended to be used by those already with prescription drug coverage. Recent empirical work has shown that such coup...
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作者：Rao, Ram; Turut, Ozge
作者单位：University of Texas System; University of Texas Dallas; Rutgers University System; Rutgers University Newark; Rutgers University New Brunswick
摘要：The mere preannouncement of a new product can affect consumer choice, thus complicating preannouncement strategy. This is because a preannounced product that is unavailable immediately can still be one of the alternatives in a consumer's mind at the time of choice. Such unavailable products, also known as phantom products, influence the reference point that consumers compare alternatives to when making a choice, as has been widely demonstrated in experimental studies. Thus, in addition to enco...
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作者：Belo, Rodrigo; Ferreira, Pedro; de Matos, Miguel Godinho; Reis, Filipa
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Carnegie Mellon University; Carnegie Mellon University; Universidade Catolica Portuguesa
摘要：In this paper we study the impact of time shifting on TV consumption and ad viewership. We analyze the results of a field experiment in which a random sample of triple-play households were given a set of premium TV channels broadcasting popular movies and TV shows without commercial breaks. A random subset of these households were given access to these channels with time shifting (automated cloud recording for later viewing or rewinding of broadcasted programs), while the remainder were not. T...
