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作者：Luchs, Ryan; Geylani, Tansev; Dukes, Anthony; Srinivasan, Kannan
作者单位：Duquesne University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; University of Southern California; Carnegie Mellon University
摘要：The Robinson-Patman Act (RP), an antitrust statute aimed at protecting small businesses, limits price setting in distribution channels. To avoid costly penalties under RP, managers take a variety of precautions when pricing to retailers and wholesalers. But how likely is a court to find a defendant guilty of violating the RP? We find that this likelihood has dropped drastically as a result of recent Supreme Court rulings from more than 1 in 3 before 1993 to less than 1 in 20 for the period 200...
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作者：Eun, Cheol S.; Lai, Sandy; de Roon, Frans A.; Zhang, Zhe
作者单位：University System of Georgia; Georgia Institute of Technology; Singapore Management University; Tilburg University; Tilburg University
摘要：We propose a new investment strategy employing factor funds to systematically enhance the mean-variance efficiency of international diversification. Our approach is motivated by the increasing evidence that size (SMB), book-to-market (HML), and momentum (MOM) factors, along with the market factor, adequately describe international stock returns, and by the direct link between investors' portfolio choice problems and international asset pricing theories and tests. Using data from 10 developed c...
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作者：Horta, Hugo; Veloso, Francisco M.; Grediaga, Rocio
作者单位：Universidade de Lisboa; Carnegie Mellon University; Universidade Catolica Portuguesa; Universidad Autonoma Metropolitana - Mexico; University Autonoma Metropolitana Azcapotzalco
摘要：The practice of having Ph.D. graduates employed by the university that trained them, commonly called academic inbreeding, has long been suspected to be damaging to scholarly practices and achievement. Despite this perception, existing work on academic inbreeding is scarce and mostly exploratory. Using data from Mexico, we find evidence that, first, academic inbreeding is associated with lower scholarly output. Second, the academically inbred faculty is relatively more centered on its own insti...
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作者：Siebert, W. Stanley; Zubanov, Nikolay
作者单位：University of Birmingham; Tilburg University
摘要：We use unique data from 245 stores of a UK retailer to study links among middle (store) manager skills, sales, and manager pay. We find that, of the six management practice areas surveyed, the most important is commercial awareness, where abler managers achieve up to 13.9% higher sales per worker. We find that many stores have poor managers on this indicator. However, the company is careful to incentivize managers, operating a scheme giving shares (approximately 20%) in both positive and negat...
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作者：Bakshi, Nitin; Gans, Noah
作者单位：University of London; London Business School; University of Pennsylvania
摘要：To mitigate the threat that terrorists smuggle weapons of mass destruction into the United States through maritime containers, the U. S. Bureau of Customs and Border Protection (CBP) inspects containers upon entry to domestic ports. Inspection-driven congestion is costly, and CBP provides incentives to firms to improve security upstream in the supply chain, thereby reducing the inspection burden at U. S. ports. We perform an economic analysis of this incentive program, called Customs-Trade Par...
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作者：Van Roy, Benjamin; Yan, Xiang
作者单位：Stanford University
摘要：A collaborative filtering system recommends to users products that similar users like. Collaborative filtering systems influence purchase decisions and hence have become targets of manipulation by unscrupulous vendors. We demonstrate that nearest neighbors algorithms, which are widely used in commercial systems, are highly susceptible to manipulation and introduce new collaborative filtering algorithms that are relatively robust.
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作者：Brennan, Thomas J.; Lo, Andrew W.
作者单位：Northwestern University; Massachusetts Institute of Technology (MIT)
摘要：A key result of the capital asset pricing model (CAPM) is that the market portfolio-the portfolio of all assets in which each asset's weight is proportional to its total market capitalization-lies on the mean-variance-efficient frontier, the set of portfolios having mean-variance characteristics that cannot be improved upon. Therefore, the CAPM cannot be consistent with efficient frontiers for which every frontier portfolio has at least one negative weight or short position. We call such effic...
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作者：Feng, Qi
作者单位：University of Texas System; University of Texas Austin
摘要：This paper examines an integrated decision-making process regarding pricing for uncertain demand and sourcing from uncertain supply, which are often studied separately in the literature. Our analysis of the integrated system suggests that the base stock list price policy fails to achieve optimality even under deterministic demand. Instead, the optimal policy is characterized by two critical values: a reorder point and a target safety stock. Under this policy, a positive order is issued if and ...
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作者：Anderson, Shannon W.; Dekker, Henri C.; Sedatole, Karen L.
作者单位：Rice University; University of Melbourne; Vrije Universiteit Amsterdam; Michigan State University; Michigan State University's Broad College of Business
摘要：Prior research documents performance improvements following the implementation of pay-for-performance (PFP) bonus plans. However, bonus plans typically pay for performance relative to a goal, and the manager whose performance is to be evaluated often participates in setting the goal. In these settings, PFP affects managers' incentive to influence goal levels in addition to affecting performance effort. Prior field research is silent on the effect of PFP on goals, the focus of this paper. Using...
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作者：Franke, Nikolaus; Schreier, Martin; Kaiser, Ulrike
作者单位：Vienna University of Economics & Business; Bocconi University; Bocconi University
摘要：Many companies offer websites that enable customers to design their own individual products, which the manufacturer can then produce to order. To date, the economic value of products self-designed using mass customization (MC) toolkits has been attributed to the two factors of preference fit achieved (which should be as high as possible) and design effort (which should be as low as possible). On the basis of literature on behavioral decision making, we suggest a third factor, namely the awaren...
