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作者：Filistrucchi, Lapo; Prufer, Jens
作者单位：University of Florence; Tilburg University; Tilburg University; Tilburg University; Tilburg University
摘要：This paper studies the strategies employed by Catholic and Protestant nonprofit hospitals in Germany and traces them back to the theological foundations of those religions. Using a unique data set, we find that Catholic nonprofit hospitals follow a strategy of horizontal diversification and maximization of the number of patients treated. By contrast, Protestant hospitals pursue a strategy of horizontal specialization and focus on vertical differentiation, putting in more sophisticated inputs a...
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作者：Cheng, Stephanie F.; De Franco, Gus; Jiang, Haibo; Lin, Pengkai
作者单位：Tulane University; University of Quebec; University of Quebec Montreal
摘要：This paper provides evidence on public firms' initial 8-K disclosures that mention Blockchain and investors' response to these disclosures. We categorize the description of Blockchain activities in firms' 8-Ks as Speculative (e.g., a vague future plan that involves Blockchain) or Existing (e.g., a description of Blockchain product). We document a sharp increase in the number of initial 8-K disclosures of Blockchain, particularly by Speculative firms, coinciding with the rise of Bitcoin prices ...
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作者：Hu, Mandy Mantian; Yang, Sha; Xu, Daniel Yi
作者单位：Chinese University of Hong Kong; University of Southern California; Duke University
摘要：We study the contagious switching behavior related to a consumer's choice of wireless carriers, that is, that a consumer is more likely to switch wireless carriers if more of their contacts from the same carrier have switched. Contagious switching (or a positive network effect) can be driven by information-based social learning, as well as other mechanisms related to network size. Although previous marketing literature has documented the social-learning effect, most of the applications studied...
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作者：Cui, Yao; Orhun, A. Yesim; Duenyas, Izak
作者单位：Cornell University; University of Michigan System; University of Michigan
摘要：This paper studies the effect of introducing a new vertical differentiation strategy, paying for an upgrade to a premium product after purchasing the base product, on the price dispersion of the base product arising from existing price discrimination strategies. In particular, we examine how a major U.S. airline's price dispersion in the coach cabin changes after introducing the option to upgrade to a new type of premium economy seating within the coach cabin. We first provide a theoretical an...
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作者：Aviv, Yossi; Wei, Mike Mingcheng; Zhang, Fuqiang
作者单位：Tel Aviv University; State University of New York (SUNY) System; University at Buffalo, SUNY; Washington University (WUSTL)
摘要：This paper studies the potential benefits of responsive pricing and demand learning to sellers of seasonal fashion goods. As typical in such markets, demand uncertainty is high at the beginning of a season, but there is a potential opportunity to learn about demand via early sales observations. Additionally, although the consumers have general preference for purchasing a fashion product earlier rather than later in the season, they may exhibit strategic behavior-contemplating the benefits of p...
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作者：Chod, Jiri; Trichakis, Nikolaos; Tsoukalas, Gerry
作者单位：Boston College; Massachusetts Institute of Technology (MIT); University of Pennsylvania
摘要：When should a firm diversify its supply base? Most extant theories attribute supplier diversification to supplier risk. Herein, we develop a new theory that attributes supplier diversification to buyer risk. When suppliers are subject to the risk of buyer default, buyers may take costly action to signal creditworthiness so as to obtain more favorable terms. But once signaling costs are sunk, buyers sourcing from a single supplier become vulnerable to future holdup. Although ex ante supply base...
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作者：Evangelidis, Ioannis; Levav, Jonathan
作者单位：Bocconi University; Stanford University
摘要：We introduce a new type of utility that we call process utility, which pertains to individuals' preference about how they want to obtain an outcome. We posit that decision makers derive utility not only from the outcome itself, but also from the process through which that outcome is obtained. We focus on two normatively equivalent processes for obtaining an outcome: action and inaction. We argue that inducing differences in how outcomes are obtained can lead to significant preference reversals...
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作者：Van Lin, Arjen; Gijsbrechts, Els
作者单位：Tilburg University; Tilburg University
摘要：Grocery retailers increasingly use acquisitions to expand their presence. Such acquisitions are risky, especially when retailers decide to subsume the acquired stores under their own banner, which can take years and demands careful planning. We show how the dynamics of consumer valuations of the old and new banner affect the traffic implications of various (spatio-temporal) rollouts, and how this can be incorporated in the conversion planning. In a store-choice model with Bayesian learning, co...
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作者：Bianchi, Milo; Tallon, Jean-Marc
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Centre National de la Recherche Scientifique (CNRS); Paris School of Economics
摘要：We match administrative panel data on portfolio choices with survey data on preferences over ambiguity. We show that ambiguity averse investors bear more risk, due to a lack of diversification. In particular, they exhibit a form of home bias that leads to higher exposure to the domestic relative to the international stock market. While more sensitive to market factors, their returns are on average higher, suggesting that ambiguity averse investors need not be driven out of the market for risky...
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作者：Brown, Alexander L.; Meer, Jonathan; Williams, J. Forrest
作者单位：Texas A&M University System; Texas A&M University College Station; National Bureau of Economic Research; Portland State University
摘要：Why do individuals volunteer their time even when recipients receive far less value than the donor's opportunity cost? Previous models of altruism that focus on the overall impact of a gift cannot rationalize this behavior, despite its prevalence. We develop a model that allows for differential warm glow depending on the form of the donation. In a series of laboratory experiments that control for other aspects of volunteering, such as its signaling value, subjects demonstrate behavior consiste...
