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作者：Kok, A. Gurhan; Shang, Kevin; Yucel, Safak
作者单位：Koc University; Duke University; Georgetown University
摘要：We investigate the impact of pricing policies (i.e., flat pricing versus peak pricing) on the investment levels of a utility firm in two competing energy sources (renewable and conventional), with a focus on the renewable investment level. We consider generation patterns and intermittency of solar and wind energy in relation to the electricity demand throughout a day. Industry experts generally promote peak pricing policy as it smoothens the demand and reduces inefficiencies in the supply syst...
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作者：Simchi-Levi, David
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
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作者：Duffie, Darrell
作者单位：Stanford University
摘要：This is a survey of progress with the postcrisis global (G20) reform of the financial system, in five key areas of new regulation: (1) making financial institutions more resilient; (2) ending too-big-to-fail; (3) making derivatives markets safer; (4) transforming shadow banking; and (5) improving trade competition and market transparency. The resiliency reforms, particularly bank capital regulations, have been increasingly successful in improving financial stability, but have been accompanied ...
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作者：Catalini, Christian
作者单位：Massachusetts Institute of Technology (MIT)
摘要：I provide novel empirical evidence grounded in an original theoretical framework to explain why colocation matters for the rate, direction, and quality of scientific collaboration. To address endogeneity concerns due to selection into colocation and matching, I exploit the constraints imposed on the spatial allocation of labs on the Jussieu campus of Paris by the removal of asbestos from its buildings. Consistent with search costs constituting a major friction to collaboration, colocation incr...
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作者：Lundholm, Russell; Rahman, Nafis; Rogo, Rafael
作者单位：University of British Columbia; University of Hong Kong; Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：We study how misaligned language between the investor and the firm contributes to the underweighting of foreign securities in an international portfolio. In particular, we document a significant U.S. institutional investor bias against firms located in Quebec relative to firms located in the rest of Canada (ROC). The differential bias is surprising given that (i) Quebec and the other Canadian provinces share the same nationality, federal law, stock exchange, and accounting standards; (ii) thei...
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作者：Hoberg, Gerard; Phillips, Gordon
作者单位：University of Southern California; Dartmouth College; National Bureau of Economic Research
摘要：We analyze the words that firms use to describe their products so we can examine the determinants of which industries conglomerate firms operate within. Our central finding is that multiple-industry firms operate across industries with higher product language overlap. Multiple-industry firms also avoid industries with more distinct language boundaries and those with more specialized within-industry language. We also find evidence linking these results to specific synergies such as potential en...
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作者：Scheele, Lisa M.; Thonemann, Ulrich W.; Slikker, Marco
作者单位：University of Cologne; Eindhoven University of Technology
摘要：We consider a firm where the sales division (SALES) is responsible for demand forecasting and the operations division (OPERATIONS) is responsible for ordering. SALES has better information about the demand than OPERATIONS and sends a nonbinding demand forecast to OPERATIONS. To incentivize truthful information sharing, we include a forecast error penalty in the incentive system of SALES. Besides monetary payoffs, we also add behavioral factors to the utility function of SALES. We model the set...
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作者：Parker, Geoffrey; Van Alstyne, Marshall
作者单位：Dartmouth College; Boston University
摘要：Suppose that a firm in charge of a business ecosystem is a firm in charge of a microeconomy. To achieve the highest growth rate, how open should that economy be? To encourage third-party developers, how long should their intellectual property interests last? We develop a sequential innovation model that addresses the trade-offs inherent in these two decisions: (i) Closing the platform increases the sponsor's ability to charge for access, while opening the platform increases developer ability t...
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作者：Falk, Armin; Kosse, Fabian; Menrath, Ingo; Verde, Pablo E.; Siegrist, Johannes
作者单位：University of Bonn; University of Bonn; University of Lubeck; Heinrich Heine University Dusseldorf; Heinrich Heine University Dusseldorf
摘要：This paper investigates physiological responses to perceptions of unfair pay. We use an integrated approach that exploits complementarities between controlled laboratory and representative panel data. In a simple principal-agent experiment, agents produce revenue by working on a tedious task. Principals decide how this revenue is allocated between themselves and their agents. Throughout the experiment we record agents' heart rate variability, which is an indicator of stress-related impaired ca...
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作者：Jagabathula, Srikanth; Vulcano, Gustavo
作者单位：New York University; Universidad Torcuato Di Tella; Consejo Nacional de Investigaciones Cientificas y Tecnicas (CONICET)
摘要：In retail operations, customer choices may be affected by stockout and promotion events. Given panel data with the transaction history of customers, and product availability and promotion data, our goal is to predict future individual purchases. We use a general nonparametric framework in which we represent customers by partial orders of preferences. In each store visit, each customer samples a full preference list of the products consistent with her partial order, forms a consideration set, a...
