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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：Montes, Rodrigo; Sand-Zantman, Wilfried; Valletti, Tommaso
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Imperial College London; University of Rome Tor Vergata
摘要：We investigate the effects of price discrimination on prices, profits, and consumer surplus when (a) at least one competing firm can use consumers' private information to price discriminate yet (b) consumers can prevent such use by paying a privacy cost. Unlike a monopolist, competing duopolists do not always benefit from a higher privacy cost because each firm's profit decreases-and consumer surplus increases-with that cost. Under such competition, the optimal strategy for an owner of consume...
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作者：Bommier, Antoine; Le Grand, Francois
作者单位：Swiss Federal Institutes of Technology Domain; ETH Zurich; emlyon business school; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：We study the saving behavior of infinitely long-lived agents who face income uncertainty and deterministic interest rates. Using monotone recursive preferences, we prove that risk aversion unambiguously increases savings. The result accounts for possibly binding borrowing constraints and holds for very general specification of income uncertainty, which can follow any kind of stochastically monotone process.
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作者：Bimpikis, Kostas; Markakis, Mihalis G.
作者单位：Stanford University; Pompeu Fabra University
摘要：Motivated by diverse application areas such as healthcare, call centers, and crowdsourcing, we consider the design and operation of service systems that process tasks with types that are ex ante unknown, and employ servers with different skill sets. Our benchmark model involves two types of tasks, Easy and Hard, and servers that are either Junior or Senior in their abilities. The service provider determines a resource allocation policy, i.e., how to assign tasks to servers over time, with the ...
