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作者：Lin, Mingfeng; Prabhala, Nagpurnanand R.; Viswanathan, Siva
作者单位：University of Arizona; University System of Maryland; University of Maryland College Park
摘要：We study the online market for peer-to-peer (P2P) lending, in which individuals bid on unsecured microloans sought by other individual borrowers. Using a large sample of consummated and failed listings from the largest online P2P lending marketplace, Prosper.com, we find that the online friendships of borrowers act as signals of credit quality. Friendships increase the probability of successful funding, lower interest rates on funded loans, and are associated with lower ex post default rates. ...
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作者：Liu, Qian; Zhang, Dan
作者单位：Hong Kong University of Science & Technology; University of Colorado System; University of Colorado Boulder
摘要：We consider dynamic pricing competition between two firms offering vertically differentiated products to strategic customers who are intertemporal utility maximizers. We show that price skimming arises as the unique pure-strategy Markov perfect equilibrium in the game under a simple condition. Our results highlight the asymmetric effect of strategic customer behavior on quality-differentiated firms. Even though the profit of either firm decreases as customers become more strategic, the low-qua...
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作者：Yildirim, Pinar; Gal-Or, Esther; Geylani, Tansev
作者单位：University of Pennsylvania; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：In this study, we investigate newspapers' decision to expand their product lines by adding online editions that incorporate user-generated content. We demonstrate that such product line extensions mitigate the extent of slanting in print media. The results also show that as the extent of discretion of users to generate online content increases, print versions of newspapers become more polarized. Furthermore, adding online editions results in reduced profits for newspapers as the additional pro...
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作者：Green, Linda V.; Savin, Sergei; Savva, Nicos
作者单位：Columbia University; University of Pennsylvania; University of London; London Business School
摘要：The problem of determining nurse staffing levels in a hospital environment is a complex task because of variable patient census levels and uncertain service capacity caused by nurse absenteeism. In this paper, we combine an empirical investigation of the factors affecting nurse absenteeism rates with an analytical treatment of nurse staffing decisions using a novel variant of the newsvendor model. Using data from the emergency department of a large urban hospital, we find that absenteeism rate...
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作者：Abdellaoui, Mohammed; Bleichrodt, Han; l'Haridon, Olivier; Paraschiv, Corina
作者单位：Centre National de la Recherche Scientifique (CNRS); Hautes Etudes Commerciales (HEC) Paris; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Universite de Rennes; Universite Paris Cite
摘要：The nature of utility is controversial. Whereas decision theory commonly assumes that utility is context specific, applied and empirical decision analysis typically assumes one unifying concept of utility applicable to all decision problems. This controversy has hardly been addressed empirically because of the absence of methods to measure utility outside the context of risk. We introduce a method to measure utility over time and compare utility under risk and utility over time. We distinguish...
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作者：Yuan, Hong; Gomez, Miguel I.; Rao, Vithala R.
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Oregon; Cornell University; Cornell University
摘要：In this paper, we examine trade promotion decisions in manufacturer-retailer channels where retailers face consumer demand uncertainty. We first present the theoretical analysis for two types of markets where trade promotion discounts are offered either as off-invoices or as scan-backs. We derive propositions by comparing wholesale and retail prices, retailer order quantities, and profits given the same trade promotion discount. Next, we extend the basic model so that the amount of trade promo...
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作者：Rogers, L. C. G.; Veraart, L. A. M.
作者单位：University of Cambridge; University of London; London School Economics & Political Science
摘要：This paper is concerned with systemic risk in an interbank market, modelled as a directed graph of interbank obligations. This builds on the modelling paradigm of Eisenberg and Noe [Eisenberg L, Noe TH (2001) Systemic risk in financial systems. Management Sci. 47(2):236-249] by introducing costs of default if loans have to be called in by a failing bank. This immediately introduces novel and realistic effects. We find that, in general, many different clearing vectors can arise, among which the...
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作者：Thanassoulis, John
作者单位：University of Oxford
摘要：This study outlines a new theory linking industry structure to optimal employment contracts and executive short-termism. Firms hire their executives using optimal contracts derived within a competitive labour market. To motivate effort, firms must use some variable remuneration. Such remuneration introduces a myopia problem: an executive would wish to inflate early expected earnings at some risk to future profits. To manage this short-termism, some bonus pay is deferred. Convergence in size am...
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作者：Dhar, Tirtha
作者单位：Ontario Tech University
摘要：In this paper, we show that slotting fees can be part of an equilibrium solution if per-unit downstream margin is smaller than the per-unit upstream margin. In recent literature, a similar margin-based argument is made by Klein and Wright (2007), whereas intense downstream retail competition coupled with high upstream margin causes upstream manufacturers to offer slotting fees for promotional shelf space. In this paper, we generalize this argument and show that it is possible to have the margi...
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作者：Farias, Vivek F.; Jagabathula, Srikanth; Shah, Devavrat
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); New York University; Massachusetts Institute of Technology (MIT)
摘要：Choice models today are ubiquitous across a range of applications in operations and marketing. Real-world implementations of many of these models fire the formidable stumbling block of simply identifying the right model of choice to use. Because models of choice are inherently high-dimensional objects, the typical approach to dealing with this problem is positing, a priori, a parametric model that one believes adequately captures choice behavior. This approach can be substantially suboptimal i...
