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作者：Dong, Lingxiu; Kouvelis, Panos; Wu, Xiaole
作者单位：Washington University (WUSTL); Fudan University
摘要：Refining is indispensable to almost every natural-resource-based commodity industry. It involves a series of complex processes that transform inputs with a wide range of quality characteristics into refined finished products sold to end markets. In this paper, we take the perspective of a profit-maximizing refiner that considers upgrading its existing simple refinery to include intermediate-conversion flexibility, i.e., the capability of converting heavy intermediate components to light ones. ...
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作者：Bloom, Nicholas; Garicano, Luis; Sadun, Raffaella; Van Reenen, John
作者单位：University of London; London School Economics & Political Science; National Bureau of Economic Research; Centre for Economic Policy Research - UK; Stanford University; University of London; London School Economics & Political Science; Harvard University
摘要：Guided by theories of management by exception, we study the impact of information and communication technology on worker and plant manager autonomy and span of control. The theory suggests that information technology is a decentralizing force, whereas communication technology is a centralizing force. Using a new data set of American and European manufacturing firms, we find indeed that better information technologies (enterprise resource planning (ERP) for plant managers and computer-assisted ...
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作者：Grennan, Matthew
作者单位：University of Pennsylvania
摘要：In markets where buyers and suppliers negotiate, supplier costs, buyer willingness to pay, and competition determine only a range of potential prices, leaving the final price dependent on other factors (e. g., negotiating skill), which I call bargaining ability. I use a model of buyer demand and buyer-supplier bargaining, combined with detailed data on prices and quantities at the buyer-supplier relationship level, to estimate firm-bargaining abilities in the context of the coronary stent indu...
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作者：Balseiro, Santiago R.; Feldman, Jon; Mirrokni, Vahab; Muthukrishnan, S.
作者单位：Duke University; Alphabet Inc.; Google Incorporated
摘要：It is clear from the growing role of ad exchanges in the real-time sale of advertising slots that Web publishers are considering a new alternative to their more traditional reservation-based ad contracts. To make this choice, the publisher must trade off, in real-time, the short-term revenue from ad exchange with the long-term benefits of delivering good spots to the reservation ads. In this paper we formalize this combined optimization problem as a multiobjective stochastic control problem an...
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作者：Iyer, Krishnamurthy; Johari, Ramesh; Sundararajan, Mukund
作者单位：Cornell University; Stanford University; Alphabet Inc.; Google Incorporated
摘要：We study learning in a dynamic setting where identical copies of a good are sold over time through a sequence of second-price auctions. Each agent in the market has an unknown independent private valuation that determines the distribution of the reward she obtains from the good; for example, in sponsored search settings, advertisers may initially be unsure of the value of a click. Though the induced dynamic game is complex, we simplify analysis of the market using an approximation methodology ...
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作者：Kane, Gerald C.; Johnson, Jeremiah; Majchrzak, Ann
作者单位：Boston College; University of Southern California
摘要：Online coproduction communities often face a challenge of whether to change or retain the knowledge they have created. Disparate and often conflicting theoretical models have been used to explain how these communities respond to this tension. We conducted a case study of how one online coproduction community-the nine-year history of the Wikipedia article on autism-handles this tension. We find that the nature of the change-retain tension and the community's response to it fluctuates considerab...
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作者：Bang Dang Nguyen; Nielsen, Kasper Meisner
作者单位：University of Cambridge; Hong Kong University of Science & Technology
摘要：Using stock price reactions to sudden deaths of top executives as a measure of expected contribution to shareholder value, we examine the relationship between executive pay and managerial contribution to shareholder value. We find, first, that the managerial labor market is characterized by positive sorting: managers with high perceived contributions to shareholder value obtain higher pay. The executive pay-contribution relationship is stronger for professional executives and for executives wi...
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作者：Celis, L. Elisa; Lewis, Gregory; Mobius, Markus; Nazerzadeh, Hamid
作者单位：Swiss Federal Institutes of Technology Domain; Ecole Polytechnique Federale de Lausanne; Microsoft; University of Southern California
摘要：Increasingly detailed consumer information makes sophisticated price discrimination possible. At fine levels of aggregation, demand may not obey standard regularity conditions. We propose a new randomized sales mechanism for such environments. Bidders can buy-it-now at a posted price, or take-a-chance in an auction where the top d > 1 bidders are equally likely to win. The randomized allocation incentivizes high-valuation bidders to buy-it-now. We analyze equilibrium behavior and apply our ana...
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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：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...
