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作者：Camerer, Colin F.; Nave, Gideon; Smith, Alec
作者单位：California Institute of Technology; University of Pennsylvania; Virginia Polytechnic Institute & State University
摘要：We study dynamic unstructured bargaining with deadlines and one-sided private information about the amount available to share (the pie size). Using mechanism design theory, we show that given the players' incentives, the equilibrium incidence of bargaining failures (strikes) should increase with the pie size, and we derive a condition under which strikes are efficient. In our setting, no equilibrium satisfies both equality and efficiency in all pie sizes. We derive two equilibria that resolve ...
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作者：Castiglionesi, Fabio; Feriozzi, Fabio; Lorenzoni, Guido
作者单位：Tilburg University; IE University; Northwestern University
摘要：This paper analyzes the effects of financial integration on the stability of the banking system. Financial integration allows banks in different regions to smooth local liquidity shocks by borrowing and lending on a world interbank market. We show under which conditions financial integration induces banks to reduce their liquidity holdings and to shift their portfolios toward more profitable but less liquid investments. Integration helps reallocate liquidity when different banks are hit by unc...
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作者：Chan, Timothy C. Y.; Lee, Taewoo; Terekhov, Daria
作者单位：University of Toronto; University of Houston System; University of Houston; Concordia University - Canada
摘要：In classical inverse linear optimization, one assumes that a given solution is a candidate to be optimal. Real data are imperfect and noisy, so there is no guarantee that this assumption is satisfied. Inspired by regression, this paper presents a unified framework for cost function estimation in linear optimization comprising a general inverse optimization model and a corresponding goodness-of-fit metric. Although our inverse optimization model is nonconvex, we derive a closed-formsolution and...
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作者：Wang, Pengfei; Jensen, Michael
作者单位：BI Norwegian Business School; University of Michigan System; University of Michigan
摘要：This study focuses on the market identities of firms and suggests that identity ambiguity is caused not only by bridging horizontal product categories but also by status inconsistency stemming from bridging vertical status categories. Focusing specifically on how firms reduce status inconsistency by restructuring their business portfolios, we argue that status inconsistency motivates firms to divest business units to present a more coherent vertical market identity. Emphasizing the interplay b...
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作者：Baardman, Lennart; Cohen, Maxime C.; Panchamgam, Kiran; Perakis, Georgia; Segev, Danny
作者单位：Massachusetts Institute of Technology (MIT); New York University; Massachusetts Institute of Technology (MIT); University of Haifa
摘要：In addition to setting price discounts, retailers need to decide how to schedule promotion vehicles, such as flyers and TV commercials. Unlike the promotion pricing problem that received great attention from both academics and practitioners, the promotion vehicle scheduling problem was largely overlooked, and our goal is to study this problem both theoretically and in practice. We model the problem of scheduling promotion vehicles to maximize profits as a nonlinear bipartite matching-type prob...
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作者：Bandi, Chaithanya; Han, Eojin; Nohadani, Omid
作者单位：Northwestern University; Northwestern University
摘要：We introduce a new class of adaptive policies called periodic-affine policies, which allows a decision maker to optimally manage and control large-scale newsvendor networks in the presence of uncertain demand without distributional assumptions. These policies are data-driven and model many features of the demand such as correlation and remain robust to parameter misspecification. We present a model that can be generalized to multiproduct settings and extended to multiperiod problems. This is a...
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作者：Di Maggio, Marco; Kermani, Amir; Korgaonkar, Sanket
作者单位：Harvard University; National Bureau of Economic Research; University of California System; University of California Berkeley; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：We exploit the preemption of national banks from state laws against predatory lending by the Office of the Comptroller of the Currency (OCC) as a quasi-experiment to study the effect of deregulation and its interaction with competition on the supply of complex mortgages. Following the preemption ruling, national banks significantly increased their origination of loans with prepayment penalties relative to national banks in states without anti-predatory-lending laws. We highlight a competition ...
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作者：Menkveld, Albert J.; Yueshen, Bart Zhou
作者单位：Tinbergen Institute; Vrije Universiteit Amsterdam; INSEAD Business School
摘要：A breakdown of cross-market arbitrage activity could make markets more fragile and result in price crashes. We provide suggestive evidence for this novel channel based on a high-frequency analysis of the most salient crash in recent history: The Flash Crash. We further show that such an event can be extremely costly for a large seller trading in a particular venue as the seller effectively relies on local liquidity supply only. These findings highlight the vulnerability of today's highly fragm...
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作者：Anderson, Shannon W.; Kimball, Amanda
作者单位：University of California System; University of California Davis
摘要：Performance measurement systems (PMSs) are used to diagnose and remediate problems, termed the decision-facilitating or feedback role of management control. We examine whether use of PMSs by individual decision makers is associated with better performance. Experimental studies have isolated individual-level effects of feedback on decision quality; however, it is difficult to extend these findings to natural settings. Archival and survey studies offer evidence on the association between the pre...
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作者：Kessler, Judd B.; Milkman, Katherine L.; Zhang, C. Yiwei
作者单位：University of Pennsylvania; University of Pennsylvania; University of Chicago; National Bureau of Economic Research
摘要：What motivates the rich and powerful to exhibit generosity? We explore this important question in a large field experiment. We solicit donations from 32,174 alumni of an Ivy League university, including thousands of rich and powerful alumni. Consistent with past psychology research, we find that the rich and powerful respond dramatically, and differently than others, to being given a sense of agency over the use of donated funds. Gifts from rich and powerful alumni increase by 100%-350% when t...
