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作者：Abdellaoui, Mohammed; Diecidue, Enrico; Oencueler, Ayse
作者单位：Centre National de la Recherche Scientifique (CNRS); Hautes Etudes Commerciales (HEC) Paris; INSEAD Business School; ESSEC Business School
摘要：Intertemporal decision making under risk involves two dimensions: time preferences and risk preferences. This paper focuses on the impact of time on risk preferences, independent of the intertemporal trade-off of outcomes, i.e., time preferences. It reports the results of an experimental study that examines how delayed resolution and payment of risky options influence individual choice. We used a simple experimental design based on the comparison of two-outcome monetary lotteries with the same...
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作者：August, Terrence; Tunca, Tunay I.
作者单位：University of California System; University of California San Diego; Stanford University
摘要：In recent years, vendor liability for software security vulnerabilities has been the center of an important debate in the software community and a topic gaining government attention in legislative committees and hearings. The importance of this question surrounding vendor security liability is amplified when one considers the increasing emergence of zero-day attacks where hackers take advantage of vulnerabilities before the software vendor has a chance to release protective patches. In this pa...
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作者：Williams, Nathan; Kannan, P. K.; Azarm, Shapour
作者单位：University System of Maryland; University of Maryland College Park; University System of Maryland; University of Maryland College Park
摘要：We examine, in a strategic setting, the broad issue of how retail channel structures-retail monopoly versus retail duopoly-impact a manufacturer's optimal new product design, both in terms of engineering design specifications as well as manufacturer and retailer profits. Our strategic framework enables manufacturers in specific contexts to anticipate the reactions of the retailers and competitive manufacturers to new designs in terms of the retail and wholesale pricing and to understand how di...
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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：Tucker, Catherine Elizabeth; Zhang, Juanjuan
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Popularity information is usually thought to reinforce existing sales trends by encouraging customers to flock to mainstream products with broad appeal. We suggest a countervailing market force: popularity information may benefit niche products with narrow appeal disproportionately, because the same level of popularity implies higher quality for narrow-appeal products than for broad-appeal products. We examine this hypothesis empirically using field experiment data from a website that lists we...
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作者：Cockburn, Iain M.; MacGarvie, Megan J.
作者单位：Boston University; National Bureau of Economic Research
摘要：To what extent are firms kept out of a market by patents covering related technologies? Do patents held by potential entrants make it easier to enter markets? We estimate the empirical relationship between market entry and patents for 27 narrowly defined categories of software products during the period 1990-2004. Controlling for demand, market structure, average patent quality, and other factors, we find that a 10% increase in the number of patents relevant to market reduces the rate of entry...
