9期

最新文章

• Reference-Dependent Utility, Product Variety, and Price Competition AI翻译
  作者：Amaldoss, Wilfred; He, Chuan
  作者单位：Duke University; University of Colorado System; University of Colorado Boulder
  摘要：Products such as Nike running shoes, Gillette razors, and Gatorade sports drink serve as the standard against which consumers evaluate other members of the category. Empirical evidence suggests that consumers care about not only the consumption utility derived from a product, but also the gain-loss utility in comparison to the reference product of the category. This paper examines how reference-dependent utility affects price competition in a horizontally differentiated market where consumers'...
• The Bull of Wall Street: Experimental Analysis of Testosterone and Asset Trading AI翻译
  作者：Nadler, Amos; Jiao, Peiran; Johnson, Cameron J.; Alexander, Veronika; Zak, Paul J.
  作者单位：Western University (University of Western Ontario); University of Oxford; Claremont Colleges; Claremont Graduate University; Claremont Colleges; Claremont Graduate University; Loma Linda University
  摘要：Growing evidence shows that biological factors affect individual financial decisions that could be reflected in financial markets. Testosterone, a chemical messenger especially influential in male physiology, has been shown to affect economic decision making and is taken as a performance enhancer among some financial professionals. This is the first experimental study to test how testosterone causally affects trading and prices. We exogenously elevated testosterone in male traders and tested t...
• Profit Sharing and Peer Reporting AI翻译
  作者：Carpenter, Jeffrey; Robbett, Andrea; Akbar, Prottoy A.
  作者单位：Middlebury College; IZA Institute Labor Economics; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
  摘要：Despite the 1/N problem associated with profit sharing, the empirical literature finds that sharing profits with workers has a positive impact on work team and firm performance. We examine one possible resolution to this puzzle by observing that, although the incentive to work harder under profit sharing is weak, it might be sufficient to motivate workers to report each other for shirking, especially if the workers are reciprocally minded. Our model provides the rationale for this conjecture, ...
• Can Trustworthiness in a Supply Chain Be Signaled? AI翻译
  作者：Beer, Ruth; Ahn, Hyun-Soo; Leider, Stephen
  作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington; University of Michigan System; University of Michigan
  摘要：The relationship between a buyer and its suppliers often relies on factors beyond the terms of a contractual agreement. Buyers can therefore benefit from identifying trustworthy suppliers. We argue that precontractual actions by a supplier, for example making costly buyer-specific investments without a long-term contract, can signal a supplier's trustworthiness. We develop a theoretical model to reflect supplier trustworthiness, and determine when a buyer can benefit from identifying trustwort...
• Firm Expansion, Size Spillovers, and Market Dominance in Retail Chain Dynamics AI翻译
  作者：Blevins, Jason R.; Khwaja, Ahmed; Yang, Nathan
  作者单位：University System of Ohio; Ohio State University; University of Cambridge; McGill University
  摘要：We develop and estimate a dynamic game of strategic firm expansion and contraction decisions to study the role of firm size in future profitability and market dominance. Modeling firm size is important because retail chain dynamics are more richly driven by expansion and contraction than de novo entry or permanent exit. Additionally, anticipated size spillovers may influence the strategies of forward-looking firms, making it difficult to analyze the effects of size without explicitly accountin...
• I Lie? We Lie! Why? Experimental Evidence on a Dishonesty Shift in Groups AI翻译
  作者：Kocher, Martin G.; Schudy, Simeon; Spantig, Lisa
  作者单位：University of Munich; University of Gothenburg
  摘要：Unethical behavior such as dishonesty, cheating and corruption occurs frequently in organizations or groups. Recent experimental evidence suggests that there is a stronger inclination to behave immorally in groups than individually. We ask if this is the case, and if so, why. Using a parsimonious laboratory setup, we study how individual behavior changes when deciding as a group member. We observe a strong dishonesty shift. This shift is mainly driven by communication within groups and turns o...
• Lower Price or Higher Reward? Measuring the Effect of Consumers' Preferences on Reward Programs AI翻译
  作者：Rossi, Federico
  作者单位：Purdue University System; Purdue University
  摘要：Despite criticisms regarding their effectiveness, reward programs today represent a prevalent and apparently successful form of marketing investment for several industries such as airlines, hotels, gas stations, and credit cards. To understand what might contribute to their success, this paper investigates the purchase behavior of consumers who participate in a reward program from the travel industry. We estimate a dynamic demand model of gasoline purchase, and compare the value that consumers...
• Management of Reported and Forecast EPS, Investor Responses, and Research Implications AI翻译
  作者：Cheong, Foong Soon; Thomas, Jacob
  作者单位：New York University; NYU Shanghai; Yale University
  摘要：We document substantial management of reported and forecast earnings per share (EPS) for analyst-followed U.S. firms, with the extent of management increasing with share price. Managers smooth the volatility of reported EPS by using accruals to offset cash flow shocks. Smoother EPS is easier to forecast, resulting in smaller forecast errors. Managers also differentially guide forecasts to improve accuracy. Whereas unmanaged forecast errors are much larger for high-price firms, they are compres...
• Coordinated Logistics with a Truck and a Drone AI翻译
  作者：Carlsson, John Gunnar; Song, Siyuan
  作者单位：University of Southern California
  摘要：We determine the efficiency of a delivery system in which an unmanned aerial vehicle (UAV) provides service to customers while making return trips to a truck that is itself moving. In other words, a UAV picks up a package from the truck (which continues on its route), and after delivering the package, the UAV returns to the truck to pick up the next package. Although the hardware for such systems already exists, the extent to which such an approach can actually provide a significantly improved...
• The Effects of Hedge Fund Interventions on Strategic Firm Behavior AI翻译
  作者：Khurana, Inder K.; Li, Yinghua; Wang, Wei
  作者单位：University of Missouri System; University of Missouri Columbia; Arizona State University; Arizona State University-Tempe; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University
  摘要：We examine the impact of hedge fund interventions on target firms' strategic behavior, specifically their voluntary disclosure and earnings management strategies. We find a decrease in both the likelihood and the frequency of management earnings forecasts conveying bad news and an increase in the level of real earnings management following interventions by hedge fund activists. Additional evidence suggests that managers substitute between voluntary disclosure and earnings management strategies...