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作者：Schlapp, Jochen; Oraiopoulos, Nektarios; Mak, Vincent
作者单位：University of Mannheim; University of Cambridge
摘要：Research and development (R&D) projects face significant organizational challenges, especially when the different units who run these projects compete among each other for resources. In such cases, information sharing among the different units is critical, but it cannot be taken for granted. Instead, individual units need to be incentivized to not only exert effort in evaluating their projects, but also to truthfully reveal their findings. The former requires an emphasis on individual performa...
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作者：Shy, Oz
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston
摘要：This paper constructs a model of service providers who compete in service and labor markets simultaneously to analyze the effects of tipping on hourly wages and total tip-inclusive hourly worker compensation. An increase in the tipping rate reduces hourly wages. Total worker compensation increases at different rates depending on the market structure, market coverage, and employment level, with the exception of price-taking (competitive) service providers, where the tip-inclusive hourly income ...
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作者：Larson, Chad R.; Turcic, Danko; Zhang, Fuqiang
作者单位：University of Houston System; University of Houston; Washington University (WUSTL)
摘要：Adaptive base stock policy is a well-known tool for managing inventories in nonstationary demand environments. This paper presents empirical tests of this policy using aggregate, firm-level data. First, we extend a single-item adaptive base stock policy in previous literature to a multi-item case. Second, we transform the policy derived for the multi-item case to a regression model that relates firm-level inventory purchases to firm-level sales and changes in sales forecasts. We focus on two r...
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作者：Yu, Man; Kapuscinski, Roman; Ahn, Hyun-Soo
作者单位：Hong Kong University of Science & Technology; University of Michigan System; University of Michigan
摘要：We examine the impact of consumer valuation interdependence and capacity on a firm's optimal selling strategies. We consider a seller who can offer a single product to consumers twice, in advance and in spot. Consumers choose whether and when to buy, but if they buy in advance, they are uncertain about their own valuations. Whether they buy in advance or in spot, consumers' valuations are realized in the spot period and they may range from fully independent to perfectly correlated, creating ma...
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作者：Agarwal, Sumit; Ben-David, Itzhak; Yao, Vincent
作者单位：National University of Singapore; University System of Ohio; Ohio State University; National Bureau of Economic Research; Federal National Mortgage Association (Fannie Mae)
摘要：Financially constrained borrowers have the incentive to influence the appraisal process in order to increase borrowing or reduce the interest rate. We document that the average valuation bias for residential refinance transactions is above 5%. The bias is larger for highly leveraged transactions, around critical leverage thresholds, and for transactions mediated through a broker. Mortgages with inflated valuations default more often. Lenders account for 60%-90% of the bias through pricing.
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作者：Leibbrandt, Andreas; List, John A.
作者单位：Monash University; University of Chicago
摘要：One explanation advanced for the persistent gender pay differences in labor markets is that women avoid salary negotiations. By using a natural field experiment that randomizes nearly 2,500 job seekers into jobs that vary important details of the labor contract, we are able to observe both the extent of salary negotiations and the nature of sorting. We find that when there is no explicit statement that wages are negotiable, men are more likely to negotiate for a higher wage, whereas women are ...
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作者：Roach, Michael; Sauermann, Henry
作者单位：Cornell University; University System of Georgia; Georgia Institute of Technology
摘要：Entrepreneurial ventures rely not only on founders but also on joiners-start-up employees who are attracted to entrepreneurship, but who do not want to be founders themselves. Drawing on both preference and contextual theories of entrepreneurship, we examine how individuals' interest in being a founder, a joiner, or neither forms prior to the first career transition. We find that although individuals with founder and joiner interests share similar preferences for entrepreneurial job attributes...
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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：Boute, Robert N.; Van Mieghem, Jan A.
作者单位：Vlerick Business School; KU Leuven; Northwestern University
摘要：After decades of offshoring production across the world, companies are rethinking their global networks. Local sourcing is receiving more attention, but it remains challenging to balance the offshore sourcing cost advantage against the increased inventories, because of its longer lead time, and against the cost and (volume) flexibility of each source's capacity. To guide strategic allocation in this global network decision, this paper establishes reasonably simple prescriptions that capture th...
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作者：Diris, Bart; Palm, Franz; Schotman, Peter
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Maastricht University; Maastricht University
摘要：We evaluate the out-of-sample performance of a long-term investor who follows an optimized dynamic trading strategy. Although the dynamic strategy is able to benefit from predictability out-of-sample, a short-term investor using a single-period market timing strategy would have realized an almost identical performance. The value of intertemporal hedge demands in strategic asset allocation appears negligible. The result is caused by the estimation error in predicting the predictors. A myopic in...
