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作者：Zhang, Xiaoquan (Michael); Feng, Juan
作者单位：Hong Kong University of Science & Technology; City University of Hong Kong
摘要：Keyword advertising, or sponsored search, is one of the most successful advertising models on the Internet. One distinctive feature of keyword auctions is that they enable advertisers to adjust their bids and rankings dynamically, and the payoffs are realized in real time. We capture this unique feature with a dynamic model and identify an equilibrium bidding strategy. We find that under certain conditions, advertisers may engage in cyclical bid adjustments, and equilibrium bidding prices may ...
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作者：Angelus, Alexandar
作者单位：Singapore Management University
摘要：We consider a finite-horizon, multiechelon inventory system in which the surplus of stock can be sold (i.e., disposed) in the secondary markets at each stage in the system. What are called nested echelon order-up-to policies are shown to be optimal for jointly managing inventory replenishments and secondary market sales. Under a general restriction on model parameters, we establish that it is optimal not to both sell off excess stock and replenish inventory. Secondary market sales complicate t...
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作者：Hsieh, J. J. Po-An; Rai, Arun; Xu, Sean Xin
作者单位：Hong Kong Polytechnic University; University System of Georgia; Georgia State University; University System of Georgia; Georgia State University; Tsinghua University
摘要：How can firms extract value from already-implemented information technologies (IT) that support the work processes of employees? One approach is to stimulate employees to engage in post-adoptive extended use, i.e., to learn and apply more of the available functions of the implemented technologies to support their work. Such learning behavior of extending functions in use is ingrained in a process by which users make sense of the technologies in the context of their work system. This study draw...
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作者：Bakos, Yannis; Dellarocas, Chrysanthos
作者单位：New York University; Boston University
摘要：Commerce depends on buyers and sellers fulfilling their contractual obligations; mechanisms inducing such performance are essential to well-functioning markets. Internet-enabled reputation mechanisms that collect and disseminate consumer feedback have emerged as prominent means for inducing seller performance in online and offline markets. This paper compares the ability of reputation and more traditional litigation-like mechanisms for dispute resolution to induce efficient economic outcomes. ...
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作者：Boyabatli, Onur; Kleindorfer, Paul R.; Koontz, Stephen R.
作者单位：Singapore Management University; INSEAD Business School; University of Pennsylvania; Colorado State University System; Colorado State University Fort Collins
摘要：T his paper analyzes the optimal procurement, processing, and production decisions of a meat-processing company (hereafter, a packer) in a beef supply chain. The packer processes fed cattle to produce two beef products, program (premium) boxed beef and commodity boxed beef, in fixed proportions, but with downward substitution of the premium product for the commodity product. The packer can source input (fed cattle) from a contract market, where long-term contracts are signed in advance of the ...
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作者：Green, Jeremiah; Hand, John R. M.; Soliman, Mark T.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of North Carolina; University of North Carolina Chapel Hill; University of Washington; University of Washington Seattle
摘要：Consistent with public statements made by sophisticated practitioners, we document that the hedge returns to Sloan's (Sloan, R. G. 1996. Do stock prices fully reflect information in accruals and cash flows about future earnings? Accounting Rev. 71(3) 289-315) accruals anomaly appear to have decayed in U. S. stock markets to the point that they are, on average, no longer reliably positive. We explore some potential reasons why this has happened. Our empirical analyses suggest that the anomaly's...
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作者：Van den Steen, Eric
作者单位：Harvard University
摘要：This paper derives two mechanisms through which Bayesian-rational individuals with differing priors will tend to be relatively overconfident about their estimates and predictions, in the sense of overestimating the precision of these estimates. The intuition behind one mechanism is slightly ironic: In trying to update optimally, Bayesian agents overweight information of which they overestimate the precision and underweight in the opposite case. This causes overall an overestimation of the prec...
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作者：Shang, Weixin; Liu, Liming
作者单位：Fudan University; Hong Kong Polytechnic University
摘要：We investigate firms' competitive behaviors in industries where customers are sensitive to both promised delivery time (PDT) and quality of service (QoS) measured by the on-time delivery rate. To study the competition in PDT at the marketing level, we construct an oligopoly game with an external QoS requirement. We show that there exists a unique Nash equilibrium, and the equilibrium QoS exhibits a switching surface structure with respect to capacities. To study the competition in capacity at ...
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作者：Bengtsson, Ola
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：This paper studies how covenants are included in contracts between venture capitalists (VCs) and entrepreneurs. I show that VCs hold covenanted veto rights even though they are shareholders who have access to other powerful governance solutions. Unlike bank loans and bonds, venture capital (VC) contracts exhibit considerable variation in their contractual designs. I exploit this variation to confirm the argument that covenants are in place to overcome a conflict of interest that arises from de...
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作者：Ghose, Anindya; Han, Sang Pil
作者单位：New York University
摘要：We quantify how user mobile Internet usage relates to unique characteristics of the mobile Internet. In particular, we focus on examining how the mobile-phone-based content generation behavior of users relates to content usage behavior. The key objective is to analyze whether there is a positive or negative interdependence between the two activities. We use a unique panel data set that consists of individual-level mobile Internet usage data that encompass individual multimedia content generati...
