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作者：Da, Zhi; Yang, Wei; Yun, Hayong
作者单位：University of Notre Dame; Indiana University System; Indiana University Bloomington; IU Kelley School of Business; Michigan State University; Michigan State University's Broad College of Business
摘要：We empirically examine the asset pricing implications of the Beckerian framework of household production, where utility is derived from both market consumption and home produced goods. We propose residential electricity usage as a real-time proxy for the service flow from household capital, because electricity is used in most modern-day household production activities and it cannot be easily stored. Using U.S. residential electricity usage from 1955 to 2012, our model based on household produc...
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作者：Nosenzo, Daniele; Offerman, Theo; Sefton, Martin; van der Veen, Ailko
作者单位：University of Nottingham; Vrije Universiteit Amsterdam; University of Amsterdam
摘要：We experimentally investigate a repeated inspection game where, in the stage game, an employee can either work or shirk and an employer simultaneously chooses to inspect or not inspect. The unique equilibrium of the stage game is in mixed strategies with positive probabilities of shirking/inspecting while combined payoffs are maximized when the employee works and the employer does not inspect. We examine the effects of allowing the employer discretion to sanction or reward the employee after o...
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作者：Chan, Timothy C. Y.; Demirtas, Derya; Kwon, Roy H.
作者单位：University of Toronto
摘要：Out-of-hospital cardiac arrest is a significant public health issue, and treatment, namely, cardiopulmonary resuscitation and defibrillation, is very time sensitive. Public access defibrillation programs, which deploy automated external defibrillators (AEDs) for bystander use in an emergency, reduce the time to defibrillation and improve survival rates. In this paper, we develop models to guide the deployment of public AEDs. Our models generalize existing location models and incorporate differ...
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作者：Chen, Fangruo; Lai, Guoming; Xiao, Wenqiang
作者单位：Columbia University; University of Texas System; University of Texas Austin; New York University
摘要：In the producer-seller relationship, the seller, besides his role of selling, is often in an ideal position to gather useful market information for the producer's operations planning. Incentive alignment is critical to motivate both information-acquisition and sales efforts. Two popular contract forms are investigated. One is the forecast-based contract (FC) that requires the seller to submit a demand forecast: the seller obtains commissions from the realized sales but is also obliged to pay a...
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作者：Miklos-Thal, Jeanine; Ullrich, Hannes
作者单位：University of Rochester; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; University of Zurich
摘要：It is difficult to test the prediction that future career prospects create implicit effort incentives because researchers cannot randomly assign career prospects to economic agents. To overcome this challenge, we use data from professional soccer, where employees of the same club face different external career opportunities depending on their nationality. We test whether the career prospect of being selected to a Euro Cup national team affects players' pre-cup performances, using nationals of ...
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作者：Mollick, Ethan; Nanda, Ramana
作者单位：University of Pennsylvania; Harvard University
摘要：In fields as diverse as technology entrepreneurship and the arts, crowds of interested stakeholders are increasingly responsible for deciding which innovations to fund, a privilege that was previously reserved for a few experts, such as venture capitalists and grant-making bodies. Little is known about the degree to which the crowd differs from experts in judging which ideas to fund, and, indeed, whether the crowd is even rational in making funding decisions. Drawing on a panel of national exp...
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作者：Levy, Haim
作者单位：Hebrew University of Jerusalem
摘要：The increase in life expectancy spells disaster at retirement. One can solve this problem by investing in the maximum geometric mean (MGM) portfolio, which is empirically composed from equity. For a T=30 year horizon or more, the MGM portfolio dominates other investment strategies by almost first-degree stochastic dominance. The MGM portfolio also maximizes the expected value of the commonly employed preferences and prospect theory value function, for various loss aversion parameters and vario...
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作者：Allain, Marie-Laure; Henry, Emeric; Kyle, Margaret
作者单位：Institut Polytechnique de Paris; Ecole Polytechnique; Institut Polytechnique de Paris; Ecole Polytechnique; Institut d'Etudes Politiques Paris (Sciences Po); Centre for Economic Policy Research - UK; Universite PSL; MINES ParisTech; Universite PSL
摘要：The sale of ideas through licensing facilitates the division of labor between the separate activities of research and development. This vertical specialization can improve the overall efficiency of the innovative process. However, these gains depend on the timing of the sale: the buyer of an innovative project should assume development at the stage at which he has an efficiency advantage. Using data from the pharmaceutical industry, we show that competition between potential buyers is related ...
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作者：Guajardo, Jose A.; Cohen, Morris A.; Netessine, Serguei
作者单位：University of California System; University of California Berkeley; University of Pennsylvania; INSEAD Business School
摘要：We study the impact of service attributes (warranty length, after-sales service quality) on consumer demand in the U.S. automobile industry, examining the presence of complementarities/substitution between service attributes and product quality. Our results estimate a median willingness to pay for one year of a warranty of approximately $850, which is equivalent to 3.1% of the median vehicle price in our sample. We find that, for a car with median characteristics, the effect on consumer utilit...
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作者：Osadchiy, Nikolay; Gaur, Vishal; Seshadri, Sridhar
作者单位：Emory University; Cornell University; Indian School of Business (ISB)
摘要：Industrial production output is generally correlated with the state of the economy. Nonetheless, during times of economic downturn, some industries take the biggest hit, whereas at times of economic boom they reap most benefits. To provide insight into this phenomenon, we map supply networks of industries and firms and investigate how the supply network structure mediates the effect of economy on industry or firm sales. Previous research has shown that retail sales are correlated with the stat...
