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作者：Cui, Yao; Duenyas, Izak; Sahin, Ozge
作者单位：Cornell University; University of Michigan System; University of Michigan; Johns Hopkins University
摘要：In this paper, we study a conditional upgrade strategy that has recently emerged in the travel industry. After a consumer makes a reservation for a product (e.g., a hotel room), she is asked whether she would like to upgrade her product to a higher-quality (more expensive) one at a discounted price. The upgrade, however, is not fulfilled immediately. The firm fulfills upgrades at check-in if higher-quality products are still available, and the upgrade fee is charged to the consumer if and only...
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作者：Huang, Tingliang; Liang, Chao; Wang, Jingqi
作者单位：Boston College; University of Hong Kong
摘要：Bespoke, or mass customization strategy, combines demand learning and preference learning. We develop an analytical framework to study the economic value of bespoke systems and investigate the interaction between demand learning and preference learning. We find that it is possible for demand learning and preference learning to be either complements or substitutes, depending on the customization cost and the demand uncertainty profile. They are generally complements when the personalization cos...
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作者：Badarinza, Cristian; Campbell, John Y.; Ramadorai, Tarun
作者单位：National University of Singapore; Centre for Economic Policy Research - UK; Harvard University; National Bureau of Economic Research; Imperial College London
摘要：The relative popularity of adjustable-rate mortgages (ARMs) and fixed-rate mortgages (FRMs) varies considerably both across countries and over time. We ask how movements in current and expected future interest rates affect the share of ARMs in total mortgage issuance. Using a nine-country panel and instrumental variables methods, we present evidence that near-term(one-year) rational forecasts of future movements in ARM rates do affect mortgage choice, particularly in more recent data since 200...
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作者：Adams, Renee; Diether, Karl; Giesecke, Kay; Manso, Gustavo; Piskorski, Tomasz; Shumway, Tyler
作者单位：University of New South Wales Sydney; Brigham Young University; Stanford University; University of California System; University of California Berkeley; Columbia University; University of Michigan System; University of Michigan
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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：Glasserman, Paul; Wu, Qi
作者单位：Columbia University; Chinese University of Hong Kong
摘要：Margin requirements for derivative contracts serve as a buffer against the transmission of losses through the financial system by protecting one party to a contract against default by the other party. However, if margin levels are proportional to volatility, then a spike in volatility leads to potentially destabilizing margin calls in times of market stress. Risk-sensitive margin requirements are thus procyclical in the sense that they amplify shocks. We use a GARCH model of volatility and a c...
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作者：Chandra, Ambarish; Weinberg, Matthew
作者单位：University of Toronto; Drexel University
摘要：The relationship between market structure and advertising has been extensively studied, but has generated sharply opposing theoretical predictions, as well as inconclusive empirical findings, likely because of severe endogeneity concerns. We exploit the 2008 merger of Miller and Coors in the U.S. brewing industry to examine how changes in local concentration affect firms' advertising behavior. Well-established regional preferences over beer brands, and the sharp increase in concentration from ...
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作者：Pope, Devin G.; Price, Joseph; Wolfers, Justin
作者单位：University of Chicago; National Bureau of Economic Research; Brigham Young University; University of Michigan System; University of Michigan
摘要：Can raising awareness of racial bias subsequently reduce that bias? We address this question by exploiting the widespread media attention highlighting racial bias among professional basketball referees that occurred in May 2007 following the release of an academic study. Using new data, we confirm that racial bias persisted in the years after the study's original sample but prior to the media coverage. Subsequent to the media coverage, though, the bias disappeared. Several potential mechanisms...
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作者：Vielmaa, Juan Pablo
作者单位：Massachusetts Institute of Technology (MIT)
摘要：It iswell known that selecting a good mixed-integer programming (MIP) formulation is crucial for effectively obtaining a solution with state-of-the art solvers. Although best practices and guidelines for constructing good formulations abound, there is rarely a single systematic construction approach that leads to the best possible formulation. Here, we introduce embedding formulations and complexity as a new MIP formulation paradigm for systematically constructing formulations for disjunctive ...
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作者：Ibanez, Maria R.; Clark, Jonathan R.; Huckman, Robert S.; Staats, Bradley R.
作者单位：Harvard University; University of Texas System; University of Texas at San Antonio; National Bureau of Economic Research; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：Work scheduling research typically prescribes task sequences implemented by managers. Yet employees often have discretion to deviate from their prescribed sequence. Using data from 2.4 million radiological diagnoses, we find that doctors prioritize similar tasks (batching) and those tasks they expect to complete faster (shortest expected processing time). Moreover, they exercise more discretion as they accumulate experience. Exploiting random assignment of tasks to doctors' queues, instrumenta...
