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作者：Morath, Florian; Muenster, Johannes
作者单位：Goethe University Frankfurt; Max Planck Society; University of Cologne
摘要：We study platform design in online markets in which buying involves a (nonmonetary) cost for consumers caused by privacy and security concerns. Firms decide whether to require registration at their website before consumers learn relevant product information. We derive conditions under which a monopoly seller benefits from ex ante registration requirements and demonstrate that the profitability of registration requirements is increased when taking into account the prospect of future purchases o...
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作者：Kouchaki, Maryam; Jami, Ata
作者单位：Northwestern University; State University System of Florida; University of Central Florida
摘要：Do prosocial corporate marketing messages promote consumers' altruistic behaviors, or do they advance self-interested and self-indulgent actions? To answer this question, the current research investigates the impact of different framings of prosocial marketing messages on consumers' behaviors and choices more generally. Results from six laboratory studies and a field experiment demonstrate that exposure to messages that praise customers for good deeds can increase subsequent self-interested an...
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作者：Murphy, Ryan O.; ten Brincke, Robert H. W.
作者单位：University of Zurich; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：An individual's tolerance of risk can be quantified by using decision models with tuned parameters that maximally fit a set of risky choices the individual has made. A goal of this model fitting procedure is to identify parameters that correspond to stable underlying risk preferences. These preferences can be modeled as an individual difference, indicating a particular decision maker's tastes and willingness to accept risk. Using hierarchical statistical methods, we show significant improvemen...
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作者：Tian, Weidong
作者单位：University of North Carolina; University of North Carolina Charlotte
摘要：This paper proposes the use of contingent capital with a call provision, in which the insurer has an option to redeem the contingent capital at any time. I characterize in detail a unique dynamic equilibrium of common stock, subordinated contingent capital, and a senior standard bond under a simple yet sufficient and necessary condition that can be implemented easily. I further show that the issuance of callable contingent capital does not affect the default risk of an outstanding senior stand...
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作者：Tereyagoglu, Necati; Fader, Peter S.; Veeraraghavan, Senthil
作者单位：University System of Georgia; Georgia Institute of Technology; University of Pennsylvania
摘要：We study the prevalence of multiattribute loss aversion and reference effects in a revenue management setting based on data of individual-level purchases over a series of concert performances. The reference dependence that drives consumer choice is not only based on the price but also on observed sales (as a fraction of the seating capacity) during their past visits. We find that consumers suffer from loss aversion on both prices and seats sold: consumers incur significant utility loss when pr...
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作者：Agnew, Julie R.; Bateman, Hazel; Eckert, Christine; Iskhakov, Fedor; Louviere, Jordan; Thorp, Susan
作者单位：William & Mary; University of New South Wales Sydney; University of Technology Sydney; Australian National University; University of New South Wales Sydney; University of South Australia; University of Sydney
摘要：We explore how individuals assess the quality of financial advice they receive and how they form judgments about advisers. Using an incentivized discrete choice experiment, we show that first impressions matter: consumers more often follow advisers who dispense good advice before bad. We demonstrate how clients' opinions of adviser quality can be manipulated by using an easily replicated confirmation strategy that depends on the quality of the advice and the difficulty and order of the advice ...
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作者：Schneider, Mark; Day, Robert
作者单位：Chapman University System; Chapman University; University of Connecticut
摘要：Experimental tests of expected-utility theory (EU) have accumulated empirical observations in which the predictions of EU are systematically violated. The cumulative prospect theory (CPT) explains violations such as the Allais paradoxes and fourfold pattern of risk attitudes as resulting from nonlinear probability transformations. Here we show that the classical paradoxes for decisions under risk can be explained with preferences that are linear in probabilities for any choice set and that max...
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作者：Kok, A. Gurhan; Shang, Kevin; Yucel, Safak
作者单位：Koc University; Duke University; Georgetown University
摘要：We investigate the impact of pricing policies (i.e., flat pricing versus peak pricing) on the investment levels of a utility firm in two competing energy sources (renewable and conventional), with a focus on the renewable investment level. We consider generation patterns and intermittency of solar and wind energy in relation to the electricity demand throughout a day. Industry experts generally promote peak pricing policy as it smoothens the demand and reduces inefficiencies in the supply syst...
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作者：Simchi-Levi, David
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
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作者：Kalay, Alon; Nallareddy, Suresh; Sadka, Gil
作者单位：Columbia University; Duke University; University of Texas System; University of Texas Dallas
摘要：This study predicts and finds that the interaction of firm-level and aggregate-level shocks explains a significant portion of shocks to macroeconomic activity. Specifically, we hypothesize that the relation between uncertainty and economic growth is most pronounced when both firm-level and aggregate-level uncertainty are high simultaneously. Similarly, we hypothesize that aggregate performance affects unemployment most when both firm-level dispersion is high and aggregate performance is low, b...
