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作者：Branzoli, Nicola; Decarolis, Francesco
作者单位：European Central Bank; Bank of Italy; Boston University
摘要：We empirically study how the interplay between entry and subcontracting choices is affected by the use of different auction formats in public procurement. The difference-in-differences strategy used exploits a data set of auctions for public works run alternately under first price and average bid auctions. We find that the use of first price auctions causes a marked decline in both entry and subcontracting. We also find that the type of firms entering first price auctions changes with firms be...
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作者：Alexandrov, Alexei
摘要：I analyze a firm making a decision whether to expose itself to risk in an exogenous parameter when the firm can change a choice variable after observing the realization of the exogenous parameter. For example, the firm decides whether to choose an advertising campaign with a less certain outcome (conditional on the same expected outcome) when it can adjust the product's price after seeing the effects of the campaign. I show that in many cases, the firm wants to expose itself to risk, and I out...
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作者：Song, Hummy; Tucker, Anita L.; Murrell, Karen L.
作者单位：Harvard University; Brandeis University; Kaiser Permanente
摘要：We conduct an empirical investigation of the impact of queue management on patients' average wait time and length of stay (LOS). Using an emergency department's (ED) patient-level data from 2007 to 2010, we find that patients' average wait time and LOS are longer when physicians are assigned patients under a pooled queuing system with a fairness constraint compared to a dedicated queuing system with the same fairness constraint. Using a difference-in-differences approach, we find the dedicated...
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作者：Kokkonen, Joni; Suominen, Matti
作者单位：Universidade Catolica Portuguesa; Aalto University
摘要：We measure misvaluation using the discounted residual income model. As shown in the literature, this measure of stocks' misvaluation significantly explains their future cross-sectional returns. We measure the market-level misvaluation (market inefficiency) by the misvaluation spread: the difference in the misvaluation of the most overvalued and undervalued shares. We show that the misvaluation spread is a strong predictor of a misvaluation-based long-short portfolio's returns, reinforcing the ...
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作者：Falato, Antonio; Li, Dan; Milbourn, Todd
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Washington University (WUSTL)
摘要：Market-based theories predict that differences in CEO skills lead to potentially large differences in pay, but it is challenging to quantify the CEO skill premium in pay. In a first step toward overcoming this empirical challenge, we code detailed biographical information for a large sample of CEOs for a panel of S&P 1500 firms between 1993 and 2005 to identify specific reputational, career, and educational credentials that are indicative of skills. Newly appointed CEOs earn up to a 5% or $280...
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作者：Corgnet, Brice; Gomez-Minambres, Joaquin; Hernan-Gonzalez, Roberto
作者单位：Chapman University System; Chapman University; Bucknell University; Chapman University System; Chapman University; University of Granada
摘要：The aim of this paper is to test the effectiveness of wage-irrelevant goal-setting policies in a laboratory environment. In our design, managers can assign a goal to their workers by setting a certain level of performance on the work task. We establish our theoretical conjectures by developing a model in which assigned goals act as reference points to workers' intrinsic motivation. Consistent with our model, we find that managers set goals that are challenging but attainable for a worker of av...
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作者：Chehrazi, Naveed; Weber, Thomas A.
作者单位：University of Texas System; University of Texas Austin; Swiss Federal Institutes of Technology Domain; Ecole Polytechnique Federale de Lausanne
摘要：This paper introduces a dynamic model of the stochastic repayment behavior exhibited by delinquent creditcard accounts. Based on this model, we construct a dynamic collectability score (DCS) that estimates the account-specific probability of collecting a given portion of the outstanding debt over any given time horizon. The model integrates a variety of information sources, including historical repayment data, account-specific, and time-varying macroeconomic covariates, as well as scheduled ac...
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作者：Huang, Yan; Singh, Param Vir; Ghose, Anindya
作者单位：University of Michigan System; University of Michigan; Carnegie Mellon University; New York University
摘要：We develop and estimate a dynamic structural framework to analyze the social-media content creation and consumption behavior of employees within an enterprise. We focus, in particular, on employees' blogging behavior. The model incorporates two key features that are ubiquitous in blogging forums: users face (1) a trade-off between blog posting and blog reading; and (2) a trade-off between work-related and leisure-related content. We apply the model to a unique data set comprising the complete ...
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作者：Boyabatli, Onur
作者单位：Singapore Management University
摘要：This paper studies the supply management of a primary input, where this input gives rise to multiple products in fixed proportions. My objective is twofold. First, I study fixed proportions technology under demand uncertainty in comparison with the flexible and dedicated technologies. I show that fixed proportions technology has a cost-pooling value over dedicated technology, which is larger than the capacity-pooling value of flexible technology over dedicated technology. I identify the critic...
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作者：Goldfarb, Avi; McDevitt, Ryan C.; Samila, Sampsa; Silverman, Brian S.
作者单位：University of Toronto; Duke University; National University of Singapore
摘要：Examining changes in two different retail formats, we show that consumers alter their purchases depending on the retail environment. In both settings, the change in behavior coincides with a reduction in the interpersonal interaction required to complete a transaction. As such, we contend that the format changes reduced a social friction that would otherwise inhibit consumers due to an implicit cost associated with ordering certain items in social settings.
