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作者：Nambiar, Mila; Simchi-Levi, David; Wang, He
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); University System of Georgia; Georgia Institute of Technology
摘要：We study a multiperiod dynamic pricing problem with contextual information, where the seller uses a misspecified demand model. The seller sequentially observes past demand, updates model parameters, and then chooses the price for the next period based on time-varying features. We show that model misspecification leads to a correlation between price and prediction error of demand per period, which, in turn, leads to inconsistent price elasticity estimates and hence suboptimal pricing decisions....
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作者：Kim, Incheol; Wan, Hong; Wang, Bin; Yang, Tina
作者单位：University of Texas System; University of Texas Rio Grande Valley; State University of New York (SUNY) System; State University of New York (SUNY) - Oswego; Marquette University; Villanova University
摘要：This paper studies the role of institutional investors in influencing corporate environmental, social, and governance (ESG) policies by analyzing the relation between institutional ownership and toxic release from facilities to which institutions are geographically proximate. We develop a local preference hypothesis based on the delegated philanthropy and transaction-costs theories. Consistent with the hypothesis, local institutional ownership is negatively related to facility toxic release. T...
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作者：Zeithammer, Robert
作者单位：University of California System; University of California Los Angeles
摘要：Several of the auction-driven exchanges that facilitate programmatic buying of internet display advertising have recently introduced soft floors in addition to standard reserve prices (called hard floors in the industry). A soft floor is a bid level below which a winning bidder pays his own bid instead of paying the second-highest bid as in a second-price auction most ad exchanges use by default. This paper characterizes soft floors' revenue-generating potential as a function of the distributi...
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作者：Bhatia, Sudeep
作者单位：University of Pennsylvania
摘要：We outline computational techniques for predicting perceptions of risk. Our approach uses the structure of word distribution in natural language data to uncover rich representations for a very large set of naturalistic risk sources. With the application of standard machine learning techniques, we are able to accurately map these representations onto participant risk ratings. Unlike existing methods in risk perception research, our approach does not require any specialized participant data and ...
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作者：Lu, Yixin; Gupta, Alok; Keller, Wolfgang; van Heck, Eric
作者单位：George Washington University; University of Minnesota System; University of Minnesota Twin Cities; University of Cologne; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：We develop a dynamic structural model of competitive bidding in multiunit sequential business-to-business auctions. Our model accounts for two notable characteristics of these auctions: (i) bidders have multiple purchase opportunities for the same product, and (ii) winning bidders in each round can acquire multiple units of the same product. We apply the model to bidding data from the world's largest flower wholesale market at which trades are facilitated through fast-paced, sequential, Dutch ...
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作者：Colliard, Jean-Edouard
作者单位：Hautes Etudes Commerciales (HEC) Paris
摘要：The regulatory use of banks' internal models makes capital requirements more risk sensitive but invites regulatory arbitrage. I develop a framework to study bank regulation with strategic selection of risk models. A bank supervisor can discourage arbitrage by auditing risk models and implements capital ratios less risk sensitive than in the first-best to reduce auditing costs. The optimal capital ratios of a national supervisor can be different from those set by supranational authorities, in w...
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作者：Kuntz, Ludwig; Scholtes, Stefan; Sulz, Sandra
作者单位：University of Cologne; University of Cambridge; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：Scholars have recently suggested the reorganization of general hospitals into organizationally separate divisions for routine and non-routine services to overcome operational misalignments between the two types of services. We provide empirical evidence for this proposal from a quality perspective, using over 250,000 patient discharge records from 60 German hospitals across 39 high-mortality disease segments, and focusing on in-hospital mortality as outcome. Disentangling the effects of high, ...
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作者：Bernstein, Fernando; Modaresi, Sajad; Saure, Denis
作者单位：Duke University; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; Universidad de Chile
摘要：We consider an online retailer facing heterogeneous customers with initially unknown product preferences. Customers are characterized by a diverse set of demographic and transactional attributes. The retailer can personalize the customers' assortment offerings based on available profile information to maximize cumulative revenue. To that end, the retailer must estimate customer preferences by observing transaction data. This, however, may require a considerable amount of data and time given th...
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作者：Du, Du; Luo, Dan
作者单位：City University of Hong Kong; Shanghai University of Finance & Economics
摘要：This paper examines the joint time series of the S&P 500 index and its options with a two-factor Hawkes jump-diffusion model that captures jump propagation (i.e., the phenomenon in which the strike of one jump substantially raises the probability for more to follow). The propagation effect uncovered from the joint data is severe but short lived. On average, this component takes up more than two-thirds of the total jump risks. Our jump specification proves crucial not only in reconciling the dy...
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作者：Exley, Christine L.; Terry, Stephen J.
作者单位：Harvard University; Boston University
摘要：We experimentally test how effort responds to wages-randomly assigned to accrue to individuals or to a charity-in the presence of expectations-based reference points or targets. When individuals earn money for themselves, higher wages lead to higher effort with relatively muted targeting behavior. When individuals earn money for a charity, higher wages instead lead to lower effort with substantial targeting behavior. A reference-dependent theoretical framework suggests an explanation for this ...
