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作者：Overby, Eric; Kannan, Karthik
作者单位：University System of Georgia; Georgia Institute of Technology; Purdue University System; Purdue University
摘要：Electronic commerce allows bidders to find and participate in auctions regardless of location. This reduction in bidders' search costs has important effects on bidders' participation patterns and sellers' revenue. The demand expansion effect occurs when reduced search costs allow bidders to participate in more auctions. The demand distribution effect occurs when reduced search costs allow bidders to distribute themselves more evenly across auctions. We focus on the latter effect by modeling wh...
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作者：Savva, Nicos; Taneri, Niyazi
作者单位：University of London; London Business School; Singapore University of Technology & Design
摘要：We develop a model based on asymmetric information (adverse selection) that provides a rational explanation for the persistent use of royalties alongside equity in university technology transfer. The model shows how royalties, through their value-destroying distortions, can act as a screening tool that allows a less-informed principal, such as the university's Technology Transfer Office (TTO), to elicit private information from the more informed spin-off. We also show that equity-royalty contr...
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作者：Robinson, Adina Barbulescu; Tuli, Kapil R.; Kohli, Ajay K.
作者单位：University of Tennessee System; University of Tennessee Knoxville; Singapore Management University; University System of Georgia; Georgia Institute of Technology
摘要：This study examines 171 brand licensing announcements and subsequent changes in the licensor firms' shareholder values using the event study method. We find that although brand licensing announcements lead to positive abnormal returns on average, nearly 44% of the announcements in our sample are followed by negative abnormal returns. We argue that investors react more favorably to a brand licensing announcement when they believe (i) the brand has greater ability to stimulate licensee product s...
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作者：Jank, Stephan
作者单位：Frankfurt School Finance & Management; University of Cologne
摘要：This paper documents how the changing composition of U.S. publicly traded firms has prompted a decline in the long-run mean of the aggregate dividend-price ratio, most notably since the 1970s. Adjusting the dividend-price ratio for such changes resolves several issues with respect to the predictability of stock market returns: the adjusted dividend-price ratio is less persistent, in-sample evidence for predictability is more pronounced, there is greater parameter stability in the predictive re...
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作者：Roberti, Roberto; Bartolini, Enrico; Mingozzi, Aristide
作者单位：University of Bologna; Aalto University; University of Bologna
摘要：The fixed charge transportation problem generalizes the well-known transportation problem where the cost of sending goods from a source to a sink is composed of a fixed cost and a continuous cost proportional to the amount of goods sent. In this paper, we describe a new integer programming formulation with exponentially many variables corresponding to all possible flow patterns to sinks. We show that the linear relaxation of the new formulation is tighter than that of the standard mixed intege...
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作者：Chen, Yongmin; Zhang, Tianle
作者单位：University of Colorado System; University of Colorado Boulder; Zhejiang University; Lingnan University
摘要：This paper studies a model of interpersonal bundling, in which a monopolist offers a good for sale under a regular price and a group purchase discount if the number of consumers in a group-the bundle size-belongs to some menu of intervals. We find that this is often a profitable selling strategy in response to demand uncertainty, and it can achieve the highest profit among all possible selling mechanisms. We explain how the profitability of interpersonal bundling with a minimum or maximum grou...
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作者：McElheran, Kristina
作者单位：University of Toronto
摘要：Are market leaders more likely to be early adopters of business process innovations? Although they tend to enjoy economies of scale in adoption, leaders may find that adjustment costs also increase with scale. Prior work has focused on how misalignment of incumbents' internal capabilities may affect their technology strategy. However, technology-capability misalignment may exist outside the firm boundary as well. In this paper, I build on mainstream product innovation concepts to predict when ...
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作者：Brooks, Alison Wood; Gino, Francesca; Schweitzer, Maurice E.
作者单位：Harvard University; University of Pennsylvania
摘要：Although individuals can derive substantial benefits from exchanging information and ideas, many individuals are reluctant to seek advice from others. We find that people are reticent to seek advice for fear of appearing incompetent. This fear, however, is misplaced. We demonstrate that individuals perceive those who seek advice as more competent than those who do not. This effect is moderated by task difficulty, advisor egocentrism, and advisor expertise. Individuals perceive those who seek a...
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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：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 ...
