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作者：Neely, Christopher J.; Rapach, David E.; Tu, Jun; Zhou, Guofu
作者单位：Federal Reserve System - USA; Federal Reserve Bank - St. Louis; Saint Louis University; Singapore Management University; Washington University (WUSTL)
摘要：Academic research relies extensively on macroeconomic variables to forecast the U.S. equity risk premium, with relatively little attention paid to the technical indicators widely employed by practitioners. Our paper fills this gap by comparing the predictive ability of technical indicators with that of macroeconomic variables. Technical indicators display statistically and economically significant in-sample and out-of-sample predictive power, matching or exceeding that of macroeconomic variabl...
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作者：Ghose, Anindya; Han, Sang Pil
作者单位：New York University; City University of Hong Kong
摘要：In 2013, the global mobile app market was estimated at over US$50 billion and is expected to grow to $150 billion in the next two years. In this paper, we build a structural econometric model to quantify the vibrant platform competition between mobile (smartphone and tablet) apps on the Apple iOS and Google Android platforms and estimate consumer preferences toward different mobile app characteristics. We find that app demand increases with the in-app purchase option wherein a user can complet...
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作者：Bhattacharya, Haimanti; Dugar, Subhasish
作者单位：Utah System of Higher Education; University of Utah; University of Calgary
摘要：We experimentally test for the effect of social status on the likelihood of partnership formation. We consider a two-player game where the opportunity to perform a hidden action by one player may render partnership formation difficult. In this context, we study how the assignment of partners' status to the top, middle, or bottom position of a preexisting status hierarchy affects collaboration. We find that partnership formation is remarkably sensitive to the partners' status affiliations. Coll...
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作者：Wu, Xiaole; Zhang, Fuqiang
作者单位：Fudan University; Washington University (WUSTL)
摘要：Motivated by the recent backshoring trend, this paper studies a sourcing game where competing firms may choose between efficient sourcing (e. g., sourcing from overseas) and responsive sourcing (e. g., sourcing from a home country). Efficient sourcing usually provides a cost advantage, whereas responsive sourcing allows a firm to obtain more accurate demand information when making procurement decisions. By characterizing the equilibrium outcome, we find some interesting results driven by the s...
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作者：Azoulay, Pierre; Stuart, Toby; Wang, Yanbo
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of California System; University of California Berkeley; Boston University
摘要：In a market context, a status effect occurs when actors are accorded differential recognition for their efforts depending on their location in a status ordering, holding constant the quality of these efforts. In practice, because it is very difficult to measure quality, this ceteris paribus proviso often precludes convincing empirical assessments of the magnitude of status effects. We address this problem by examining the impact of a major status-conferring prize that shifts actors' positions ...
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作者：Adner, Ron; Csaszar, Felipe A.; Zemsky, Peter B.
作者单位：Dartmouth College; University of Michigan System; University of Michigan; INSEAD Business School
摘要：Competitive positioning is a central, yet understudied, topic in strategy. Understanding positioning requires understanding two distinct mappings: how underlying policies are transformed into positions, and how positions are transformed into market performance. A complete treatment of positioning requires incorporating organizational design in the presence of policy interdependence; consumer choice in the presence of trade-offs among multiple product attributes; and competitive interactions am...
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作者：Marx, Matt; Gans, Joshua S.; Hsu, David H.
作者单位：Massachusetts Institute of Technology (MIT); University of Toronto; University of Pennsylvania
摘要：When start-up innovation involves a potentially disruptive technology-initially lagging in the predominant performance metric, but with a potentially favorable trajectory of improvement-incumbents may be wary of engaging in cooperative commercialization with the start-up. While the prevailing theory of disruptive innovation suggests that this will lead to (exclusively) competitive commercialization and the eventual replacement of incumbents, we consider a dynamic strategy involving product mar...
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作者：Li, Jun; Granados, Nelson; Netessine, Serguei
作者单位：University of Michigan System; University of Michigan; Pepperdine University; INSEAD Business School
摘要：Consumers often consider delaying a purchase strategically, anticipating that prices might decrease. Combining two unique data sources from the air-travel industry (posted fare data and booking data), we use a structural model to estimate the fraction of strategic consumers in the population, assuming different levels of sophistication in consumers' perception of future prices: perfect foresight and weak-and strong-form rational expectations. We find that 5.2% to 19.2% of the population is str...
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作者：Luo, Hong
作者单位：Harvard University
摘要：I study a model of investment and sale of ideas and test its empirical implications using a novel data set from the market for original movie ideas. Consistent with the theoretical results, I find that buyers are reluctant to meet unproven sellers for early-stage ideas, which restricts sellers to either developing the ideas fully (to sell them later) or abandoning them. In contrast, experienced sellers can attract buyers at any stage, and they sell worse ideas sooner and better ideas later. Th...
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作者：Bhargava, Hemant K.; Mishra, Abhay Nath
作者单位：University of California System; University of California Davis; University System of Georgia; Georgia State University
摘要：This paper studies the impact of an electronic medical record (EMR) system on the productivity of physicians. Physicians influence a vast majority of treatment decisions and are central to the care delivery process; thus, it is important to understand how EMRs may impact the nature of their work. Our research builds on prior literature on physician productivity, IT productivity, and task-technology fit theory. We use a unique panel data set comprising 87 physicians specializing in internal med...
