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作者：Jiang, Baojun; Narasimhan, Chakravarthi; Turut, Ozge
作者单位：Washington University (WUSTL); Sabanci University
摘要：When a firm introduces a product with new features, some consumers may find it difficult to assess their valuations for these new attributes. Their purchase decisions made under such uncertainty may lead to postpurchase regret. It has been experimentally shown that consumers may anticipate their potential postpurchase regret and make their current choices to mitigate or minimize it. That is, a consumer's anticipated regret can significantly impact his purchase decision. Given the trend that fi...
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作者：Bali, Turan G.; Engle, Robert F.; Tang, Yi
作者单位：Georgetown University; New York University; Fordham University
摘要：This paper presents evidence for a significantly positive link between the dynamic conditional beta and the cross section of daily stock returns. An investment strategy that takes a long position in stocks in the highest conditional beta decile and a short position in stocks in the lowest conditional beta decile produces average returns and alphas in the range of 0.60%-0.80% per month. We provide an investor attention-based explanation of this finding. We show that stocks with high conditional...
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作者：Hellmann, Thomas; Wasserman, Noam
作者单位：University of Oxford; Harvard University; University of Southern California
摘要：We examine the trade-off between efficiency and equality within the context of entrepreneurial founding teams. Using a formal theory where founders may have preferences over relative outcomes, we derive predictions about the antecedents and consequences of dividing equity equally among all founders. Using proprietary survey data, we empirically test the predictions. Our central finding is that teams that split equity equally are less likely to raise funds from outside investors. The relationsh...
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作者：Bodur, Merve; Luedtke, James R.
作者单位：University of Toronto; University of Wisconsin System; University of Wisconsin Madison
摘要：We study server scheduling in multiclass service systems under uncertainty in the customer arrival volumes. Common practice in such systems is to first identify staffing levels and then determine schedules for the servers that cover these levels. We propose a new stochastic integer programming (SIP) model that integrates these two decisions, which can yield lower scheduling costs by exploiting the presence of alternative server configurations that yield similar quality of service. We find that...
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作者：Read, Daniel; Olivola, Christopher Y.; Hardisty, David J.
作者单位：University of Warwick; Carnegie Mellon University; University of British Columbia
摘要：This paper proposes a novel account of impatience: People pay more attention to the opportunity costs of choosing larger, later rewards than to the opportunity costs of choosing smaller, sooner ones. Eight studies show that when the opportunity costs of choosing smaller, sooner rewards are subtly highlighted, people become more patient, whereas when the opportunity costs of choosing larger, later rewards are highlighted this has no effect. This pattern is robust to variations in the choice tas...
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作者：Khadjavi, Menusch
作者单位：University of Kiel; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW)
摘要：This paper investigates two channels of prosociality: indirect reciprocity and charitable giving. We conducted a natural field experiment in a hair salon in Hamburg, Germany, over the course of four months. In the baseline, we collected data on customers' tips-a scenario absent indirect reciprocity and donations. In two treatments we had the hairdresser collect donations to a charity. In one treatment the hairdresser pointed out the opportunity to donate. Our data indicate that the voluntary a...
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作者：Zacharias, Christos; Armony, Mor
作者单位：University of Miami; New York University
摘要：Patients nationwide experience difficulties in accessing medical care in a timely manner due to long backlogs of appointments. Medical practices aim to utilize their valuable resources efficiently, deliver timely access to care, and at the same time they strive to provide short waiting times for patients present at the medical facility. We address the joint problem of determining the panel size of a medical practice and the number of offered appointment slots per day, so that patients do not f...
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作者：Ackermann, Fabian; Pohl, Walt; Schmedders, Karl
作者单位：University of Zurich; Swiss Finance Institute (SFI)
摘要：DeMiguel et al. [DeMiguel V, Garlappi L, Uppal R (2009) Optimal versus naive diversification: How inefficient is the 1/N portfolio strategy? Rev. Financial Stud. 22(5): 1915-1953] showed that in the stock market, it is difficult for an optimized portfolio constructed using mean-variance analysis to outperform a simple, equally weighted portfolio because of estimation error. In this paper, we demonstrate that portfolio optimization can be made to work in currency markets. The key difference bet...
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作者：Addoum, Jawad M.; Korniotis, George; Kumar, Alok
作者单位：Cornell University; University of Miami
摘要：Using multiple U.S. and European data sources, we show that observed physical attributes are related to participation in financial markets. Specifically, we find that individuals who are relatively tall and of normal weight are more likely to hold stocks in their financial portfolios. We consider several potential mechanisms that could drive the relation between physical attributes and portfolio decisions. We find that teenage social experiences as well as genetic and prenatal endowments that ...
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作者：Lohmann, Timo; Rebennack, Steffen
作者单位：Colorado School of Mines
摘要：We present a long-term power generation expansion planning model that features a long planning horizon, an hourly time resolution, multiperiod investment and retirement decisions, transmission constraints, start-up restrictions, and short-term demand response. Demand response is the capability of power load to react to short-term changes in electricity prices. It plays an increasingly important role in today's electricity markets but has not been taken into consideration in long-term power gen...
