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作者：Bergman, David; Cire, Andre A.
作者单位：University of Connecticut; University of Toronto; University Toronto Scarborough; University of Toronto
摘要：This paper investigates a decomposition approach for binary optimization problems with nonlinear objectives and linear constraints. Our methodology relies on the partition of the objective function into separate low-dimensional dynamic programming (DP) models, each of which can be equivalently represented as a shortest-path problem in an underlying state-transition graph. We show that the associated transition graphs can be related by a mixed-integer linear program (MILP) so as to produce exac...
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作者：Qian, Jun QJ; Zhu, Julie Lei
作者单位：Fudan University; Shanghai Jiao Tong University
摘要：We evaluate the efficiency of capital deployment for acquiring firms before mergers and acquisitions (M&As), defined as the return on invested capital net of the cost of capital, and link this measure to firms' postacquisition performance. Acquirers with higher preacquisition net returns on investment have superior long-run operating and stock performance than do acquirers with lower returns. Acquirers with low net returns on investment also underperform matching nonacquirers. The relationship...
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作者：Sun, Zhankun; Argon, Nilay Tanik; Ziya, Serhan
作者单位：City University of Hong Kong; University of North Carolina; University of North Carolina Chapel Hill
摘要：In war zones and economically deprived regions, because of extreme resource restrictions, a single provider may be the sole person in charge of providing emergency care to a group of patients. An important question the provider faces under such circumstances is whether or not to perform triage and how to prioritize the patients. By choosing to triage a particular patient, the provider can determine the health condition and thus the urgency of the patient, but that will come at the expense of d...
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作者：Ranehill, Eva; Zethraeus, Niklas; Blomberg, Liselott; von Schoultz, Bo; Hirschberg, Angelica Linden; Johannesson, Magnus; Dreber, Anna
作者单位：University of Gothenburg; Swiss Federal Institutes of Technology Domain; ETH Zurich; Karolinska Institutet; Karolinska Institutet; Karolinska University Hospital; Karolinska Institutet; Karolinska University Hospital; Stockholm School of Economics
摘要：A growing body of correlational studies suggests that sex hormones such as those contained in, or affected by, oral contraceptives (OCs) may impact economic behavior. However, despite widespread use of OCs among women in Western countries, little is known about their potential behavioral effects. The present study investigates whether OCs causally influence economic preferences. We randomly allocate 340 women aged 18-35 to three months of a widely used OC or placebo treatment. At the end of tr...
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作者：Besbes, Omar; Iancu, Dan A.; Trichakis, Nikolaos
作者单位：Columbia University; Stanford University; Massachusetts Institute of Technology (MIT)
摘要：Firms often finance their inventory through debt and subsequently sell it to generate profits and service the debt. Pricing of products is consequently driven by inventory and debt servicing considerations. We show that limited liability under debt induces sellers to charge higher prices and to discount products at a slower pace. We find that these distortions result in revenue losses that compound over time, leading to some form of performance spiral down. We quantify the extent to which thes...
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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：Chemmanur, Thomas J.; Fedaseyeu, Viktar
作者单位：Boston College; Bocconi University; Bocconi University
摘要：We model a corporate board evaluating a chief executive officer (CEO) of uncertain management ability. Each director receives a noisy private signal about CEO ability, after which directors discuss this ability and vote to retain or replace the CEO. Directors care about true CEO ability, since it affects their equity holding values; however, a CEO may impose costs of dissent on a director who votes to fire but fails to oust her. We relate the equilibrium CEO firing decision to board size, boar...
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作者：Chen, Bin R.; Li, Sanxi
作者单位：Sun Yat Sen University; Renmin University of China
摘要：We study a two-stage model in which the agent's ability is initially unknown to any party, but the principal can choose a prehire screening scheme to discover the agent's ability before offering a contract. Perfect screening enables the principal to fine-tune the contract to the agent's ability, but it also prevents her from enforcing a contract that is contingent on subjective interim performance measures. Given that interim performance measures are critical for motivating first-stage effort,...
