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作者：Markle, Alex B.; Rottenstreich, Yuval
作者单位：Fordham University; University of California System; University of California San Diego
摘要：Most theories of decision making are consequentialist. They presume that people evaluate prospects on the basis of potential outcomes. However, people may often conceptualize prospects in part nonconsequentially. Consider someone evaluating a new, focal prospect given an unresolved background position to which that person is already exposed. If the two are positively correlated, the individual may conceptualize the focal prospect as a bet with the individual's background position; if they are ...
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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：Anderson, Stephen J.; Chandy, Rajesh; Zia, Bilal
作者单位：Stanford University; University of London; London Business School; The World Bank
摘要：This paper examines the impact of improvements in marketing skills relative to finance skills among small-scale entrepreneurs. It addresses three important questions: (1) What is the impact of marketing or finance skills on business profits? (2) How do improvements in marketing and finance skills respectively affect different business outcomes? (3) When are increases in marketing relative to finance skills more beneficial? Through a randomized control study of 852 firms in South Africa, the an...
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作者：Bavafa, Hessam; Hitt, Lorin M.; Terwiesch, Christian
作者单位：University of Wisconsin System; University of Wisconsin Madison; University of Pennsylvania; University of Pennsylvania
摘要：Secure messaging, or e-visits, between patients and providers has sharply increased in recent years, and many hope they will help improve healthcare quality, while increasing provider capacity. Using a panel data set from a large healthcare system in the United States, we find that e-visits trigger about 6% more office visits, with mixed results on phone visits and patient health. These additional visits come at the sacrifice of new patients: physicians accept 15% fewer new patients each month...
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作者：Candogan, Ozan; Pekec, Sasa
作者单位：University of Chicago; Duke University
摘要：We introduce feature valuations, a new class of valuations that compactly capture preferences of agents who value items based on the features they possess. Such preferences are relevant in many important practical settings, such as Internet advertising markets (where impressions have associated attributes), labor markets (where workers' skills/titles correspond to features), and long-term bond markets (where coupon payments can be associated with features). We focus on settings where features ...
