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作者：Hossain, Tanjim; Li, King King
作者单位：University of Toronto; University of Toronto; Shanghai University of Finance & Economics; City University of Hong Kong
摘要：Recent studies, mostly from prosocial settings, suggest that monetary rewards may crowd out effort exertion by economic agents. We design a field experiment with data entry workers to investigate the extent of such crowding-out effects in a labor market. Using simple variations in the job description of a task, we induce a natural work setting under the work frame and emphasize social preference under the social frame. We find that crowding out of labor participation critically depends on fram...
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作者：Buraschi, Andrea; Trojani, Fabio; Vedolin, Andrea
作者单位：Imperial College London; Universita della Svizzera Italiana; Swiss Finance Institute (SFI); University of London; London School Economics & Political Science
摘要：We study how the equilibrium risk sharing of agents with heterogeneous perceptions of aggregate consumption growth affects bond and stock returns. Although credit spreads and their volatilities increase with the degree of heterogeneity, the decreasing risk premium on moderately levered equity can produce a violation of basic capital structure no-arbitrage relations. Using bottom-up proxies of aggregate belief dispersion, we give empirical support to the model predictions and show that risk pre...
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作者：Rudi, Nils; Drake, David
作者单位：INSEAD Business School; Harvard University
摘要：In an experimental newsvendor setting, we investigate three phenomena: level behavior-the decision maker's average ordering tendency; adjustment behavior-the tendency to adjust period-to-period order quantities; and observation bias-the tendency to let the degree of demand feedback influence order quantities. We find that, in three of four conditions, the portion of mismatch cost that results from adjustment behavior exceeds the portion of mismatch cost caused by level behavior. Observation bi...
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作者：Kim, Sang Won; Olivares, Marcelo; Weintraub, Gabriel Y.
作者单位：Chinese University of Hong Kong; Columbia University; Universidad de Chile
摘要：The main advantage of a procurement combinatorial auction (CA) is that it allows suppliers to express cost synergies through package bids. However, bidders can also strategically take advantage of this flexibility, by discounting package bids and inflating bid prices for single items, even in the absence of cost synergies; the latter behavior can hurt the performance of the auction. It is an empirical question whether allowing package bids and running a CA improves performance in a given setti...
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作者：Zhang, Minjiao; Kucukyavuz, Simge; Goel, Saumya
作者单位：University System of Ohio; Ohio State University
摘要：In this paper, we consider a finite-horizon stochastic mixed-integer program involving dynamic decisions under a constraint on the overall performance or reliability of the system. We formulate this problem as a multistage (dynamic) chance-constrained program, whose deterministic equivalent is a large-scale mixed-integer program. We study the structure of the formulation and develop a branch-and-cut method for its solution. We illustrate the efficacy of the proposed model and method on a dynam...
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作者：Anantharaman, Divya; Fang, Vivian W.; Gong, Guojin
作者单位：Rutgers University System; Rutgers University New Brunswick; Rutgers University Newark; University of Minnesota System; University of Minnesota Twin Cities; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Theory posits that managerial holdings of debt (inside debt) align managers' incentives with those of outside debtholders. Executive pensions, consisting of rank-and-file (RAF) plans and supplemental executive retirement plans (SERPs), and other deferred compensation (ODC) have debt-like payoffs, and could therefore function as inside debt. However, whereas SERPs are often unfunded and unsecured, RAF plans are funded and secured to some extent, and ODC may be invested in equity and withdrawn f...
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作者：Amore, Mario Daniele; Garofalo, Orsola; Minichilli, Alessandro
作者单位：Bocconi University; Autonomous University of Barcelona
摘要：We analyze whether gender interactions at the top of the corporate hierarchy affect corporate performance. Using a comprehensive data set of family-controlled firms in Italy, we find that female directors significantly improve the operating profitability of female-led companies. To mitigate endogeneity concerns, we assess executive transitions using a triple-difference approach complemented by propensity score matching and instrumental variables. Finally, we show that the positive effect of fe...
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作者：Lount, Robert B., Jr.; Wilk, Steffanie L.
作者单位：University System of Ohio; Ohio State University
摘要：The current paper examines how posting performance-an act that triggers increased social comparisons between workers-influences employees' motivation when working in groups. In the study, posting employee performance moderated the relationship between groupwork and employee motivation. When individual performance was publicly posted in the workplace, employees working in a group performed better than when working alone (i.e., social laboring); however, when individual performance was not poste...
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作者：Lacetera, Nicola; Macis, Mario; Slonim, Robert
作者单位：University of Toronto; University of Toronto; University Toronto Mississauga; Johns Hopkins University; University of Sydney
摘要：We conducted a field experiment with the American Red Cross (ARC) to study the effects of economic incentives on volunteer activities. The experiment was designed to assess local and short-term effects as well as spatial and temporal substitution, heterogeneity, and spillovers. Subjects offered $5, $10, and $15 gift cards to give blood were more likely to donate and more so for the higher reward values. The incentives also led to spatial displacement and a short-term shift in the timing of don...
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作者：Loomes, Graham; Rodriguez-Puerta, Inmaculada; Pinto-Prades, Jose-Luis
作者单位：University of Warwick; Universidad Pablo de Olavide; Glasgow Caledonian University
摘要：We present examples of existing evidence that lead us to be cautious about claims made in the original paper [Blavatskyy PR (2011) A model of probabilistic choice satisfying first-order stochastic dominance. Management Sci. 57(3):542-548] that the proposed model provides a better fit to experimental data than do existing models. We raise concerns about the accuracy of this and other assertions and about the adequacy of the comparisons made with alternative models in the existing literature.
