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作者：Lu, Susan F.; Rui, Huaxia
作者单位：Purdue University System; Purdue University; University of Rochester
摘要：Despite heated debate about the pros and cons of online physician ratings, little systematic work has examined the correlation between physicians' online ratings and their actual medical quality. Using the ratings of cardiac surgeons at RateMDs and the patient outcomes of coronary artery bypass graft surgeries in the 2013 Florida Hospital Inpatient Discharge Data, we investigate whether online ratings are informative about physicians' medical quality. To account for potentially nonrandom match...
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作者：Feunou, Bruno; Fontaine, Jean-Sebastien
作者单位：Bank of Canada
摘要：Existing results show that (i) lagged forward rates help predict bond returns and (ii) modern Markovian dynamic term structure models (DTSMs) cannot match the evidence [Cochrane JH, Piazzesi M (2005) Bond risk premia. Amer. Econom. Rev. 95(1): 138-160]. We develop the family of conditional mean DTSMs where the dynamics depend on current yields and their history through a moving-average component. Our preferred conditional mean model combines one moving average with the usual three Gaussian ris...
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作者：Aral, Sinan; Bakos, Yannis; Brynjolfsson, Erik
作者单位：Massachusetts Institute of Technology (MIT); New York University
摘要：Many theories address how information technology (IT) affects the number of suppliers and supply chain governance. However, their predictions are at times contradictory and there is relatively little empirical evidence with which to evaluate them. We therefore develop an integrated, multiperiod model of the optimal number of suppliers that combines search and coordination theory, transaction cost economics, and incomplete contracts theory, and we assess our theoretical predictions using a larg...
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作者：Kouchaki, Maryam; Jami, Ata
作者单位：Northwestern University; State University System of Florida; University of Central Florida
摘要：Do prosocial corporate marketing messages promote consumers' altruistic behaviors, or do they advance self-interested and self-indulgent actions? To answer this question, the current research investigates the impact of different framings of prosocial marketing messages on consumers' behaviors and choices more generally. Results from six laboratory studies and a field experiment demonstrate that exposure to messages that praise customers for good deeds can increase subsequent self-interested an...
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作者：Murphy, Ryan O.; ten Brincke, Robert H. W.
作者单位：University of Zurich; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：An individual's tolerance of risk can be quantified by using decision models with tuned parameters that maximally fit a set of risky choices the individual has made. A goal of this model fitting procedure is to identify parameters that correspond to stable underlying risk preferences. These preferences can be modeled as an individual difference, indicating a particular decision maker's tastes and willingness to accept risk. Using hierarchical statistical methods, we show significant improvemen...
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作者：Tian, Weidong
作者单位：University of North Carolina; University of North Carolina Charlotte
摘要：This paper proposes the use of contingent capital with a call provision, in which the insurer has an option to redeem the contingent capital at any time. I characterize in detail a unique dynamic equilibrium of common stock, subordinated contingent capital, and a senior standard bond under a simple yet sufficient and necessary condition that can be implemented easily. I further show that the issuance of callable contingent capital does not affect the default risk of an outstanding senior stand...
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作者：Halaburda, Hanna; Piskorski, Mikolaj Jan; Yildirim, Pinar
作者单位：Bank of Canada; New York University; International Institute for Management Development (IMD); University of Pennsylvania
摘要：We show that a two-sided matching platform can successfully compete by limiting the number of choices it offers to its customers, while charging higher prices than platforms with unrestricted choice. We develop a stylized model of online dating where agents with different outside options match based on how much they like each other. Starting from these microfoundations, we derive the strength and direction of indirect network effects and show that increasing the number of potential matches has...
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作者：Mukherjee, Anirban; Kadiyali, Vrinda
作者单位：Singapore Management University; Cornell University
摘要：We study the market for new (movie) DVDs in the United States. Our demand model captures seasonality, freshness (i.e., time between theatrical and DVD release), and state dependence. We also develop a structural model of dynamic competition in which studios balance waiting for high-demand weeks, against reduced freshness, and against competitive crowding. We find that studios emphasize DVD revenues from larger movies (by theatrical revenue) over DVD revenues from smaller movies. Studios also e...
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作者：Jame, Russell
作者单位：University of Kentucky
摘要：I investigate whether hedge funds that supply liquidity earn superior returns. Using transaction data, I find that hedge funds following short-term contrarian strategies (i.e., liquidity suppliers) earn significantly higher returns on their equity trades and holdings. Similarly, using commercial databases, I find that hedge funds with greater exposure to a liquidity provision factor earn significantly higher excess returns and Sharpe ratios. The superior performance of liquidity-supplying hedg...
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作者：Younkin, Peter; Kuppuswamy, Venkat
作者单位：McGill University; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：The dearth of minority entrepreneurs has received increasing media attention but few academic analyses. In particular, the funding process creates challenges for either audit or correspondence methods, making it difficult to assess the role, or type, of discrimination influencing resource providers. We use a novel approach that combines analyses of 7,617 crowdfunding projects with an experimental design to identify whether African American men are discriminated against and whether this reflect...
