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作者：Maafi, Hela
作者单位：heSam Universite; Universite Pantheon-Sorbonne; Paris School of Economics
摘要：Preference reversals have been widely studied using risky or riskless gambles. However, little is known about preference reversals under ambiguity (unknown probabilities). Subjects were asked to make a binary choice between ambiguous P-bets (big likelihood of giving small prize) and ambiguous $-bets (small likelihood of giving large prize) and their willingness to accept was elicited. Subjects then performed the same two tasks with risky bets, where the probability of winning for a given risky...
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作者：Zhang, Zhe George; Luh, Hsing Paul; Wang, Chia-Hung
作者单位：Lanzhou University; Simon Fraser University; Western Washington University; National Chengchi University
摘要：Motivated by the waiting lines between the U.S.-Canadian border crossings, we investigate a security-check system with both security and customer service goals. In such a system, every customer has to be inspected by the first-stage inspector, but only a proportion of customers need to go through the second stage for further inspection. This further inspection proportion, affecting both security screening and the system congestion, becomes a key decision variable for the security-check system....
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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：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：Cai, Ning; Kou, S. G.
作者单位：Hong Kong University of Science & Technology; Columbia University
摘要：This paper aims to extend the analytical tractability of the Black-Scholes model to alternative models with arbitrary jump size distributions. More precisely, we propose a jump diffusion model for asset prices whose jump sizes have a mixed-exponential distribution, which is a weighted average of exponential distributions but with possibly negative weights. The new model extends existing models, such as hyperexponential and double-exponential jump diffusion models, because the mixed-exponential...
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作者：Salinger, Michael; Ampudia, Miguel
作者单位：Boston University; Boston University
摘要：The Lerner relationship linking the profit-maximizing price to marginal cost and the elasticity of demand generalizes to the price-setting newsvendor, and the result resolves the puzzle over the different effects of additive and multiplicative uncertainty on the solution. Multiplicative uncertainty increases the optimal price because it increases the marginal cost of a unit sold and does not affect the markup factor. Additive uncertainty has no effect on the marginal cost of a unit sold and lo...
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作者：Hossain, Tanjim; Minor, Dylan; Morgan, John
作者单位：University of Toronto; Northwestern University; University of California System; University of California Berkeley
摘要：Platform competition is ubiquitous, yet platform market structure is little understood. Theory models typically suffer from equilibrium multiplicity-platforms might coexist or the market might tip to either platform. We use laboratory experiments to study the outcomes of platform competition. When platforms are primarily vertically differentiated, we find that even when platform coexistence is theoretically possible, markets inevitably tip to the more efficient platform. When platforms are pri...
