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作者：Branco, Fernando; Sun, Monic; Villas-Boas, J. Miguel
作者单位：Universidade Catolica Portuguesa; Stanford University; University of Southern California; University of California System; University of California Berkeley
摘要：Consumers often need to search for product information before making purchase decisions. We consider a tractable (continuous-time) model of gradual learning, in which consumers incur search costs to learn further product information, and update their expected utility of the product at each search occasion. We characterize the optimal stopping rules for either purchase, or no purchase, as a function of search costs and of the importance/informativeness of each attribute. This paper also charact...
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作者：Wan, Zhixi; Beil, Damian R.; Katok, Elena
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; University of Michigan System; University of Michigan; University of Texas System; University of Texas Dallas
摘要：We study a procurement setting in which the buyer seeks a low price but will not allocate the contract to a supplier who has not passed qualification screening. Qualification screening is costly for the buyer, involving product tests, site visits, and interviews. In addition to a qualified incumbent supplier, the buyer has an entrant of unknown qualification. The buyer wishes to run a price-only, open-descending reverse auction between the incumbent and the entrant, and faces a strategic choic...
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作者：Oestreicher-Singer, Gal; Sundararajan, Arun
作者单位：Tel Aviv University; New York University
摘要：Online commercial interactions have increased dramatically over the last decade, leading to the emergence of networks that link the electronic commerce landing pages of related products to one another. Our paper conjectures that the explicit visibility of such product networks can alter demand spillovers across their constituent items. We test this conjecture empirically using data about the copurchase networks and demand levels associated with more than 250,000 interconnected books offered on...
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作者：Noe, Thomas H.; Rebello, Michael J.; Rietz, Thomas A.
作者单位：University of Oxford; University of Oxford; University of Texas System; University of Texas Dallas; University of Iowa
摘要：We model the effect of external financing on a firm's ability to maintain a reputation for high-quality production. Producing high quality is first best. Defecting to low quality is tempting because it lowers current costs while revenue remains unchanged because consumers and outside investors cannot immediately observe the defection. However, defection to low quality impairs the firm's reputation, which lowers cash flows and inhibits production over the long term. Financing via short-term cla...
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作者：Kozhan, Roman; Tham, Wing Wah
作者单位：University of Warwick; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：In this paper, we investigate the role of execution risk in high-frequency trading through arbitrage strategies. We show that if rational agents face uncertainty about completing their arbitrage portfolios, then arbitrage is limited even in markets with perfect substitutes and convertibility. Using a simple model, we demonstrate that this risk arises from the crowding effect of competing arbitrageurs entering the same trade and inflicting negative externalities on each other. Our empirical res...
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作者：Pancras, Joseph; Sriram, S.; Kumar, V.
作者单位：University of Connecticut; University of Michigan System; University of Michigan; University System of Georgia; Georgia State University
摘要：Managers of retail chains who seek to add new stores or close existing ones need to know the net impact of a store's opening/closure on the overall chain performance. This requires inferring the extent to which each store generates incremental sales as opposed to competing with other stores belonging to the chain for the same set of customers. However, when the chain is experiencing a growth or a decline in sales, not accounting for these dynamics in goodwill is likely to yield misleading esti...
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作者：Dargnies, Marie-Pierre
摘要：Recent results in experimental and personnel economics indicate that women do not like competitive environments as much as men. This paper presents an experimental design that gives participants the opportunity to enter a tournament as part of a team rather than alone. Although a large and significant gender gap in entry in the individual tournament is found, in line with the literature, no gender gap is found in entry in the team tournament. Women do not enter the tournament significantly mor...
