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作者：Serpa, Juan Camilo; Krishnan, Harish
作者单位：McGill University; University of British Columbia
摘要：Firms in a vertical relationship are likely to affect each other's productivity. Exactly how does productivity spill over across this type of relationship (i.e., through which mechanisms)? Additionally, how does the relative importance of these mechanisms depend on the structure of the supply chain? To answer these questions, we decompose the channels of upstream productivity spillovers-from customers to suppliers-by developing a structural econometric model on a sample of approximately 22,500...
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作者：Coviello, Decio; Guglielmo, Andrea; Spagnolo, Giancarlo
作者单位：Universite de Montreal; HEC Montreal; Analysis Group Inc.; Stockholm School of Economics; University of Rome Tor Vergata
摘要：We run a regression discontinuity design analysis to document the causal effect of increasing buyers' discretion on procurement outcomes in a large database for public works in Italy. Works with a value above a given threshold have to be awarded through an open auction. Works below this threshold can be more easily awarded through a restricted auction, where the buyer has some discretion in terms of who (not) to invite to bid. Our main result is that discretion increases the probability that t...
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作者：Cubitt, Robin; McDonald, Rebecca; Read, Daniel
作者单位：University of Nottingham; University of Nottingham; University of Warwick
摘要：Unimodal intertemporal decisions involve comparing options of the same type (e.g., apples now versus apples later), and cross-modal decisions involve comparing options of different types (e.g., a car now versus a vacation later). As we show, existing models of intertemporal choice do not allow time preference to depend on whether the comparisons to be made are unimodal or cross-modal. We test this restriction in an experiment using the delayed compensation method, a new extension of the standa...
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作者：Kessler, Judd B.; Milkman, Katherine L.
作者单位：University of Pennsylvania; University of Pennsylvania
摘要：How does priming identity affect charitable giving? We show that individuals are more likely to donate when a facet of their identity associated with a norm of generosity is primed in an appeal. In large charitable giving field experiments run by the American Red Cross, appeals that prime an individual's identity as a previous donor to the charity or as a member of a local community generate more donations. The primes are more effective when they highlight a facet of the potential donor's iden...
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作者：Pasiouras, Fotios
作者单位：Technical University of Crete; University of Surrey
摘要：Using a data set of approximately 3,000 commercial banks from more than 100 countries, I examine the impact of financial consumer protection policies on the cost of financial intermediation. I find evidence that the existence of internal mechanisms for handling complaints, requirements for fair treatment, supervisory power related to consumer protection, and various disclosure requirements reduce the cost of financial intermediation in advanced countries. The results are different in the case ...
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作者：Staats, Bradley R.; Kc, Diwas S.; Gino, Francesca
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; Emory University; Harvard University
摘要：Many models in operations management involve dynamic decision making that assumes optimal updating in response to information revelation. However, behavioral theory suggests that rather than updating their beliefs, individuals may persevere in their prior beliefs. In particular, we examine how individuals' prior experiences and the experiences of those around them alter their belief perseverance in operational decisions after the revelation of negative news. We draw on an exogenous announcemen...
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作者：de Bodt, Eric; Cousin, Jean-Gabriel; Roll, Richard
作者单位：Universite de Lille; SKEMA Business School; California Institute of Technology
摘要：The number of merger and acquisition (M&A) transactions paid fully in stock in the U.S. market declined sharply after 2001, when pooling and goodwill amortization were abolished by the Financial Accounting Standards Board. Did this accounting rule change really have such far reaching implications? Using a difference-in-differences test and Canada as a counterfactual, this study reveals that it did. We also report several other results confirming the role of pooling abolishment, including (i) t...
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作者：Moller, Stig V.; Rangvid, Jesper
作者单位：CREATES; Aarhus University; Copenhagen Business School
摘要：Global economic growth at the end of the year strongly predicts returns from a wide spectrum of international assets, such as global, regional, and individual-country stocks, FX, and commodities. Global economic growth at other times of the year does not predict international returns. Low growth in the global economy at the end of the year predicts higher returns over the following year. It also predicts the global business cycle. When global economic growth at the end of the year is low, inve...
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作者：Ajorlou, Amir; Jadbabaie, Ali; Kakhbod, Ali
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：We study the problem of optimal dynamic pricing for a monopolist selling a product to consumers in a social network. In the proposed model, the only means of spread of information about the product is via word-of-mouth communication; consumers' knowledge of the product is only through friends who already know about the product's existence. Both buyers and nonbuyers contribute to information diffusion, while buyers are more likely to spread the news about the product. By analyzing the structure...
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作者：Demange, Gabrielle
作者单位：Paris School of Economics
摘要：This paper proposes to measure the spillover effects that cross liabilities generate on the magnitude of default in a system of financially linked institutions. Based on a simple model and an explicit criterion-the aggregate debt repayments-the measure is defined for each institution, affected by its characteristics and links to others. These measures-one for each institution-summarize relevant information on the interaction between the liabilities structure and the shocks to resources, and th...
