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作者：Wu, Jiahua; Shi, Mengze; Hu, Ming
作者单位：Imperial College London; University of Toronto
摘要：This paper studies two types of threshold-induced effects: a surge of new sign-ups around the time when the thresholds of group-buying deals are reached, and a stronger positive relation between the number of new sign-ups and the cumulative number of sign-ups before the thresholds are reached than afterward. This empirical study uses a data set that records the intertemporal cumulative number of sign-ups for group-buying deals in 86 city markets covered by Groupon, during a period of 71 days w...
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作者：Bisiere, Christophe; Decamps, Jean-Paul; Lovo, Stefano
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Centre National de la Recherche Scientifique (CNRS); Toulouse School of Economics; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Centre National de la Recherche Scientifique (CNRS); Hautes Etudes Commerciales (HEC) Paris
摘要：We conduct a series of experiments that simulate trading in financial markets. We find that the information content of the order flow varies with the strength of subjects' prior beliefs about fundamentals. The presence of intrinsic uncertainty about the asset's fundamentals reduces informational efficiency. This originates from subjects' risk attitudes and biases in the way some subjects update their beliefs. The behavior of approximately 63% of the subjects is consistent with the expected uti...
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作者：Cenesizoglu, Tolga
作者单位：Universite de Montreal; HEC Montreal
摘要：In good times, stock prices react negatively to good news and positively to bad news, whereas in bad times, they react positively to good news and negatively to bad news. To account for this stylized fact, we consider an asset pricing model where the dividend growth rate switches between different values depending on the underlying state of the economy. Investors never observe the true dividend growth rate, but learn about it through not only its realizations but also external signals such as ...
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作者：Herrmann, Philipp N.; Kundisch, Dennis O.; Rahman, Mohammad S.
作者单位：University of Paderborn; Purdue University System; Purdue University
摘要：We investigate the impact of delegating decision making to information technology (IT) on an important human decision bias-the sunk cost effect. To address our research question, we use a unique data set containing actual market transaction data for approximately 7,000 pay-per-bid auctions. In contrast with the laboratory experiments of previous related studies, our research presents the unique advantage of investigating the effects of IT-enabled automated bidding agents on the occurrence of a...
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作者：Beaud, Mickael; Willinger, Marc
作者单位：Universite de Montpellier
摘要：We report on a within-subject experiment, with substantial monetary incentives, designed to test whether or not people are risk vulnerable. In the experiment, subjects face the standard portfolio choice problem in which the investor has to allocate part of his wealth between one safe asset and one risky asset. We elicit risk vulnerability by observing each subject's portfolio choice in two different contexts that differ only by the presence or absence of an actuarially neutral background risk....
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作者：Mak, Ho-Yin; Rong, Ying; Zhang, Jiawei
作者单位：Hong Kong University of Science & Technology; Shanghai Jiao Tong University; New York University
摘要：In this paper, we develop distribution-free models that solve the appointment sequencing and scheduling problem by assuming only moments information of job durations. We show that our min-max appointment scheduling models, which minimize the worst-case expected waiting and overtime costs out of all probability distributions with the given marginal moments, can be exactly formulated as tractable conic programs. These formulations are obtained by exploiting hidden convexity of the problem. In th...
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作者：Liu, Angela (Xia); Mazumdar, Tridib; Li, Bo
作者单位：Tsinghua University; Syracuse University
摘要：We investigate the effects of a movie star on the movie's opening week theater allocations and box office revenue. Because the pairing of a star and a movie involves a bilateral matching process between the studio and the star, the star (hence the nonstar) movie samples are nonrandom and the star variable is potentially endogenous. To assess the star as well as movie characteristics effects, we utilize a switching model to account for endogenous assignment of stars and nonstars into respective...
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作者：Abdellaoui, Mohammed; Klibanoff, Peter; Placido, Laetitia
作者单位：Hautes Etudes Commerciales (HEC) Paris; Centre National de la Recherche Scientifique (CNRS); Northwestern University; Paris School of Economics; Centre National de la Recherche Scientifique (CNRS); City University of New York (CUNY) System; Baruch College (CUNY)
摘要：We conduct experiments measuring individual behavior under compound risk, simple risk, and ambiguity. We focus on (1) treatment of compound risks relative to simple risks and (2) the relationship between compound risk attitudes and ambiguity attitudes. We find that compound risks are valued differently than corresponding reduced simple risks. These differences measure compound risk attitudes. These attitudes display more aversion as the reduced probability of the winning event increases. Like ...
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作者：Schmidt, Klaus M.; Spann, Martin; Zeithammer, Robert
作者单位：University of Munich; University of Munich; University of California System; University of California Los Angeles
摘要：Pay what you want (PWYW) can be an attractive marketing strategy to price discriminate between fair-minded and selfish customers, to fully penetrate a market without giving away the product for free, and to undercut competitors that use posted prices. We report on laboratory experiments that identify causal factors determining the willingness of buyers to pay voluntarily under PWYW. Furthermore, to see how competition affects the viability of PWYW, we implement markets in which a PWYW seller c...
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作者：Ebbes, Peter; Liechty, John C.; Grewal, Rajdeep
作者单位：Hautes Etudes Commerciales (HEC) Paris; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Modeling consumer heterogeneity helps practitioners understand market structures and devise effective marketing strategies. In this research we study finite mixture specifications for modeling consumer heterogeneity where each regression coefficient has its own finite mixture-that is, an attribute finite mixture model. An important challenge of such an approach to modeling heterogeneity lies in its estimation. A proposed Bayesian estimation approach, based on recent advances in reversible-jump...
