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作者：Rohde, Kirsten I. M.
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：Many studies show that time preference data from experiments and surveys are related to field behavior. Time preference measures in these studies typically depend simultaneously on utility curvature, the level of impatience, and the change in the level of impatience. Thus, these studies do not allow one to establish which of these three components drivels) the field behavior of interest. Of these components, the change in the level of impatience is theoretically thought to be the main driver o...
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作者：Feldhaus, Christoph; Sobotta, Tassilo; Werner, Peter
作者单位：University of Cologne; Martin Luther University Halle Wittenberg; Maastricht University
摘要：We investigate behavioral reactions toward exogenous changes of implicit norm-relevant information in a natural field setting where customers are free to choose if and how much to pay for a service. Customers' voluntary payments are significantly affected by subtle information cues: cues that signal a high rather than a low payment norm increase payments by some 27%. Consistent with the conjecture that this effect is in large part driven by customers' uncertainty about the actual norm, respons...
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作者：Baucells, Manel; Zhao, Lin
作者单位：University of Virginia; Chinese Academy of Sciences; Academy of Mathematics & System Sciences, CAS
摘要：We introduce the fatigue disutility model. Set in continuous time, the model formalizes the notion that fatigue accumulates with effort, decays with rest, and produces an increase in marginal instant disutility. The model is meant to be prescriptive, although it rationalizes several anomalies observed in time preference. Under very general conditions, the most efficient temporal profile of effort exhibits a high-low-high pattern. We consider a variant whereby marginal productivity decreases wi...
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作者：Feldman, Pnina; Papanastasiou, Yiangos; Segev, Ella
作者单位：Boston University; University of California System; University of California Berkeley; Ben-Gurion University of the Negev
摘要：Consumers often consult the reviews of their peers before deciding whether to purchase a new experience good; however, their initial quality expectations are typically set by the product's observable attributes. This paper focuses on the implications of social learning for a monopolist firm's choice of product design. In our model, the firm's design choice determines the product's ex ante expected quality, and designs associated with (stochastically) higher quality incur higher costs of produc...
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作者：Roy, Abhishek; Gilbert, Stephen M.; Lai, Guoming
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; University of Texas System; University of Texas Austin
摘要：It is now widely accepted that a retailer's use of strategic inventory can mitigate double marginalization and improve the coordination of a supply chain, potentially benefiting both the downstream retailer and an upstream manufacturer. However, this conclusion has typically been based on the assumption that the manufacturer can observe the retailer's level of inventory before making wholesale pricing decisions. In reality, there are many situations in which neither the retailer's sales nor in...
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作者：Cachon, Gerard P.; Gallino, Santiago; Olivares, Marcelo
作者单位：University of Pennsylvania; Dartmouth College; Universidad de Chile
摘要：What is the relationship between inventory and sales? Clearly, inventory could increase sales: expanding inventory creates more choice (options, colors, etc.) and might signal a popular/desirable product. Or, inventory might encourage a consumer to continue her search (e.g., on the theory that she can return if nothing better is found), thereby decreasing sales (a scarcity effect). We seek to identify these effects in U.S. automobile sales. Our primary research challenge is the endogenous rela...
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作者：Miklos-Thal, Jeanine; Tucker, Catherine
作者单位：University of Rochester; Massachusetts Institute of Technology (MIT)
摘要：We build a game-theoretic model to examine how better demand forecasting resulting from algorithms, machine learning, and artificial intelligence affects the sustainability of collusion in an industry. We find that, although better forecasting allows colluding firms to better tailor prices to demand conditions, it also increases each firm's temptation to deviate to a lower price in time periods of high predicted demand. Overall, our research suggests that, despite concerns expressed by policy ...
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作者：Plambeck, Erica L.; Taylor, Terry A.
作者单位：Stanford University; University of California System; University of California Berkeley
摘要：Firms have an incentive to test competitors' products to reveal violations of safety and environmental standards, in order to have competitors' products blocked from sale. This paper shows that testing by a regulator crowds out testing by competitors, and can reduce firms' efforts to comply with the product standard. Relying on competitor testing (i.e., having the regulator test only to verify evidence of violations provided by competitors) is most effective in large or concentrated markets in...
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作者：Chan, Timothy C. Y.; Fearing, Douglas
作者单位：University of Toronto
摘要：This paper Introduces the formal study of process flexibility to the novel domain of sports analytics. In baseball, positional flexibility Is the analogous concept to process flexibility from manufacturing. We study the flexibility of players (plants) on a baseball team who produce innings-played at different positions (products). We develop models and metrics to evaluate expected and worst-case performance under Injury risk (capacity uncertainty) with continuous player-position capabilities. ...
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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...
