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作者：Zentner, Alejandro; Smith, Michael; Kaya, Cuneyd
作者单位：University of Texas System; University of Texas Dallas; Carnegie Mellon University
摘要：How will consumption patterns for popular and long-tail products change when consumers move from brick-and-mortar to Internet markets? We address this question using customer-level panel data obtained from a national video rental chain as it was closing many of its local stores. These data allow us to use the closure of a consumer's local video store as an instrument, breaking the inherent endogeneity between channel choice and product choice. Our results suggest that when consumers move from ...
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作者：Ren, Yufei; Croson, Rachel
作者单位：Union College; University of Texas System; University of Texas Arlington
摘要：Previous studies have shown that individuals make suboptimal decisions in a variety of supply chain and inventory settings. We hypothesize that one cause is that individuals are overconfident (in particular, overprecise) in their estimation of order variation. Previous work has shown theoretically that underestimating the variance of demand causes orders to deviate from optimal in predictable ways. We provide two experiments supporting this theoretical link. In the first, we elicit the precisi...
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作者：Rubineau, Brian; Fernandez, Roberto M.
作者单位：Cornell University; Massachusetts Institute of Technology (MIT)
摘要：The importance of networks in labor markets is well known, and their job-segregating effects in organizations is a given. Conventional wisdom attributes this segregation to the homophilous nature of contact networks, and leaves little role for organizational influences. Yet employee referrals are necessarily initiated within a firm by employee referrers subject to organizational policies. We build theory regarding the role of referrers in the segregating effects of network recruitment. Using m...
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作者：Altinkilic, Oya; Balashov, Vadim S.; Hansen, Robert S.
作者单位：George Washington University; Rutgers University System; Rutgers University Camden; Rutgers University New Brunswick; Tulane University
摘要：Contrary to the common view that analysts are important information agents, intraday returns evidence shows that announcements of analysts' forecast revisions release little new information, on average. Further cross-sectional evidence from returns around the announcements confirms that revisions are virtually information free. Daily announcement returns used in the literature appear to overstate the analyst's role as information agent, because forecast announcements are often issued directly ...
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作者：Kocak, Ozgecan; Ozcan, Serden
作者单位：Sabanci University; Copenhagen Business School
摘要：Four distinct theoretical programs have examined market entry decisions of multiunit firms, advancing different explanations for the relationship between a firm's likelihood of entry into a geographical market and the number of rivals that are already present in the target market. Within the strategy literature, theory of strategic interactions explains that firms will want to establish a foothold in markets where their multimarket competitors are scarce, but avoid markets where there are many...
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作者：Diwas, K. C.; Staats, Bradley R.; Gino, Francesca
作者单位：Emory University; University of North Carolina; University of North Carolina Chapel Hill; Harvard University
摘要：Learning from past experience is central to an organization's adaptation and survival. A key dimension of prior experience is whether an outcome was successful or unsuccessful. Although empirical studies have investigated the effects of success and failure in organizational learning, to date, the phenomenon has received little attention at the individual level. Drawing on attribution theory in psychology, we investigate how individuals learn from their own past experiences with both failure an...
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作者：Cen, Ling; Chan, Kalok; Dasgupta, Sudipto; Gao, Ning
作者单位：University of Toronto; University of Toronto; University Toronto Scarborough; Hong Kong University of Science & Technology; University of Manchester
摘要：Within industry, stock returns of larger firms lead those of smaller firms, suggesting an intraindustry information diffusion process. Most industry leaders, however, have business segments in other industries (henceforth, minor-segment industries), whereas most small firms are pure players operating in one industry only. If investors cannot filter out the irrelevant information from the leaders' minor segments, the pure players will be mispriced due to spurious cross-industry information diff...
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作者：Ghosh, Bikram; Galbreth, Michael R.
作者单位：University of South Carolina System; University of South Carolina Columbia
摘要：Firms can invest to disclose quality information about their products to consumers, but consumers are not always perfectly attentive to these disclosures. Indeed, technologies such as digital video recorders have increased the ease with which disclosures can be avoided by consumers. Although such inattention may result in a consumer missing information from one or more competing firms, consumers who have missed disclosures might decide to search for quality information to become fully informed...
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作者：Goldreich, David; Halaburda, Hanna
作者单位：University of Toronto; Harvard University
摘要：Are large menus better than small menus? Recent literature argues that individuals' apparent preference for smaller menus can be explained by their behavioral biases or informational limitations. These explanations imply that absent behavioral or informational effects, larger menus would be objectively better. However, in an important economic context-401(k) pension plans we find that larger menus are objectively worse than smaller menus, as measured by the maximum Sharpe ratio achievable. We ...
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作者：Baucells, Manel; Borgonovo, Emanuele
作者单位：RAND Corporation; Pompeu Fabra University; Bocconi University; Bocconi University
摘要：In evaluating opportunities, investors wish to identify key sources of uncertainty. We propose a new way to measure how sensitive model outputs are to each probabilistic input (e.g., revenues, growth, idiosyncratic risk parameters). We base our approach on measuring the distance between cumulative distributions (risk profiles) using a metric that is invariant to monotonic transformations. Thus, the sensitivity measure will not vary by alternative specifications of the utility function over the...
