-
作者：Schweizer, Nikolaus; Szech, Nora
作者单位：Tilburg University; Helmholtz Association; Karlsruhe Institute of Technology; Leibniz Association; Ifo Institut
摘要：Information about the future may be instrumentally useful yet scary. For example, many patients shy away from precise genetic tests about their dispositions for severe diseases. They are afraid that a bad test result could render them desperate as a result of anticipatory feelings. We show that partially revealing tests are typically optimal when anticipatory utility interacts with an instrumental need for information. The same result emerges when patients rely on probability weighting. Optima...
-
作者：Fazli, Amir; Sayedi, Amin; Shulman, Jeffrey D.
作者单位：University of Washington; University of Washington Seattle
摘要：Web-based firms often rely on cloud-based computational resources to serve customers, but the number of customers they will serve is rarely known at the time of product launch. A recent innovation in cloud computing, known as autoscaling, allows companies to automatically scale their computational load up or down to match customer demand. We build a game theory model to examine how autoscaling will affect firms' decisions to enter a new market and the resulting equilibrium prices, profitabilit...
-
作者：Arya, Anil; Mittendorf, Brian
作者单位：University System of Ohio; Ohio State University
摘要：This paper presents a parsimonious model of the bricks-and-mortar entry choice of online retailers in light of consumer sales taxes. On the one hand, a retailer benefits by entry since the second distribution channel enables it to reach new customers, giving it a leg up on rivals. On the other hand, physical entry typically compels the retailer to start collecting sales taxes even for online transactions, making its consumers particularly price sensitive. This paper examines this trade-off to ...
-
作者：Mislavsky, Robert; Simonsohn, Uri
作者单位：University of Pennsylvania
摘要：We define transactions asweird when they include unexplained features, that is, features not implicitly, explicitly, or self-evidently justified, and propose that people are averse to weird transactions. In six experiments, we show that risky options used in previous research paradigms often attained uncertainty via adding an unexplained transaction feature (e.g., purchasing a coin flip or lottery), and behavior that appears to reflect risk aversion could instead reflect an aversion to weird t...
-
作者：Rahmani, Morvarid; Roels, Guillaume; Karmarkar, Uday S.
作者单位：University System of Georgia; Georgia Institute of Technology; INSEAD Business School; University of California System; University of California Los Angeles
摘要：In knowledge-intensive projects, one of the challenges project team leaders often face is how to combine their roles of direction and contribution. In this paper, we propose a game-theoretic model of team leadership of coproductive projects and study how team leaders should combine their directing and contributing efforts depending on the team and project characteristics. Our analysis reveals that two types of team leadership approaches arise in equilibrium, namely, participatory team leadersh...
-
作者：Sharkey, Amanda J.; Kovacs, Balazs
作者单位：University of Chicago; Yale University
摘要：The majority of extant studies involving status argue that status enters into choice and evaluation because people personally believe that status serves as a signal of quality. However, this mechanism seems less plausible in cases when consensus on the meaning of quality is lacking. To understand how and why status often nonetheless enters into evaluation in those cases, this paper contributes to a growing body of work that proposes that individuals and organizations are particularly likely to...
-
作者：Balseiro, Santiago R.; Mirrokni, Vahab S.; Leme, Renato Paes
作者单位：Columbia University; Alphabet Inc.; Google Incorporated
摘要：We study the dynamic mechanism design problem of a seller who repeatedly sells independent items to a buyer with private values. In this setting, the seller could potentially extract the entire buyer surplus by running efficient auctions and charging an upfront participation fee at the beginning of the horizon. In some markets, such as Internet advertising, participation fees are not practical since buyers expect to inspect items before purchasing them. This motivates us to study the design of...
-
作者：Chao, Xiuli; Gong, Xiting; Shi, Cong; Yang, Chaolin; Zhang, Huanan; Zhou, Sean X.
作者单位：University of Michigan System; University of Michigan; Chinese University of Hong Kong; Chinese University of Hong Kong; Shanghai University of Finance & Economics; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Managing perishable inventory systems with positive lead times and finite ordering capacities is important but notoriously difficult in both theory and computation. The optimal control policy is extremely complicated, and no effective heuristic policy has been proposed in the literature. In this paper, we develop an easy-to-compute approximation algorithm for this class of problems and prove that it admits a theoretical worst-case performance guarantee under independent and many commonly used ...
-
作者：Saghafian, Soroush; Hopp, Wallace J.; Iravani, Seyed M. R.; Cheng, Yao; Diermeier, Daniel
作者单位：Harvard University; University of Michigan System; University of Michigan; Northwestern University; University of Chicago
摘要：Telemedical physician triage (TPT) is an example of a hierarchical knowledge-based service system (HKBSS) in which a second level of decision agent (telemedical physician) renders a decision on cases referred to him or her by the primary level agents (triage nurses). Managing the speed-versus-quality trade-off in such systems presents a unique challenge because of the interplay between agent knowledge and flow of work between the two levels. We develop a novel model of agent knowledge, based o...
-
作者：Bartha, Daniel
作者单位：Office of Financial Research; United States Department of the Treasury
摘要：This paper develops and estimates an economic model of the costs and beliefs required to rationalize household direct stock ownership. In the model, investors believe they can learn information about individual stock returns through costly research. The model identifies the distributions of both research costs and beliefs about the predictability of individual stock returns. Identification depends only on households' wealth and portfolio choices. The model also provides a novel explanation for...
