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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...
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作者：Brown, James R.; Martinsson, Gustav
作者单位：Iowa State University; Royal Institute of Technology; Swedish House of Finance
摘要：Corporate transparency reduces information asymmetries between firms and capital markets but increases the costs associated with information leakage to competitors. We explore how a country's information environment affects innovation, an activity characterized by high information asymmetries and potentially severe proprietary costs. Studying both long-run cross-country differences in the availability of firm-specific information to corporate outsiders, as well as quasi-experimental shocks to ...
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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：Aggarwal, Ishani; Woolley, Anita Williams
作者单位：Getulio Vargas Foundation; Carnegie Mellon University
摘要：In spite of the recognized importance of team creativity for organizational success, the factors that influence it are not well understood. In this paper, we address an important gap in the literature on the impact of team diversity on team creativity. We show how team cognitive diversity both enhances and inhibits team cognition, or the manner in which information is organized and distributed within the team. We further demonstrate that team cognition is a key mechanism through which cognitiv...
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作者：Huang, Yilin; Nadauld, Taylor D.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia; Brigham Young University
摘要：When a firm is facing default, equity holders have incentives to engage in asset substitution, underinvest, or directly transfer wealth. Few papers document investment distortions on account of debt-equity agency conflicts, only that the threat of distortions influence ex ante financing costs. A nonagency residential mortgage-backed security deal represents an entity that is highly leveraged where, ex ante, equity holders know they will face default. This provides an ideal laboratory for testi...
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作者：Dickerson, John P.; Procaccia, Ariel D.; Sandholm, Tuomas
作者单位：University System of Maryland; University of Maryland College Park; Carnegie Mellon University
摘要：Algorithmic matches in fielded kidney exchanges do not typically result in an actual transplant. We address the problem of cycles and chains in proposed matches failing after the matching algorithm has committed to them. We show that failure-aware kidney exchange can significantly increase the expected number of lives saved (i) in theory, on random graph models; (ii) on real data from kidney exchange match runs between 2010 and 2014; and (iii) on synthetic data generated via a model of dynamic...
