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作者：Tu, Jun
作者单位：Singapore Management University
摘要：The stock market displays regime switching between upturns and downturns. This paper provides a Bayesian framework for making portfolio decisions that takes this regime switching into account, together with asset pricing model uncertainty and parameter uncertainty. The findings reveal that the economic value of accounting for regimes is substantially independent of whether or not model and parameter uncertainties are incorporated: the certainty-equivalent losses associated with ignoring regime...
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作者：Nanda, Ramana; Sorensen, Jesper B.
作者单位：Harvard University; Stanford University
摘要：We examine whether the likelihood of entrepreneurial activity is related to the prior career experiences of an individual's coworkers, using a unique matched employer-employee panel data set. We argue that coworkers can increase the likelihood that an individual will perceive entrepreneurial opportunities as well as increase his or her motivation to pursue those opportunities. We find that an individual is more likely to become an entrepreneur if his or her coworkers have been entrepreneurs be...
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作者：Gurvich, Itai; Luedtke, James; Tezcan, Tolga
作者单位：Northwestern University; University of Wisconsin System; University of Wisconsin Madison; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We consider the problem of staffing call centers with multiple customer classes and agent types operating under quality-of-service (QoS) constraints and demand rate uncertainty. We introduce a formulation of the staffing problem that requires that the QoS constraints are met with high probability with respect to the uncertainty in the demand rate. We contrast this chance-constrained formulation with the average-performance constraints that have been used so far in the literature. We then propo...
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作者：Cecchini, Mark; Aytug, Haldun; Koehler, Gary J.; Pathak, Praveen
作者单位：University of South Carolina System; University of South Carolina Columbia; State University System of Florida; University of Florida
摘要：This paper provides a methodology for detecting management fraud using basic financial data. The methodology is based on support vector machines. An important aspect therein is a kernel that increases the power of the learning machine by allowing an implicit and generally nonlinear mapping of points, usually into a higher dimensional feature space. A kernel specific to the domain of finance is developed. This financial kernel constructs features shown in prior research to be helpful in detecti...
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作者：Lovejoy, William S.; Sinha, Amitabh
作者单位：University of Michigan System; University of Michigan
摘要：What lines of communication among members of an organization are most productive in the early, ideation phase of innovation? We investigate this question with a recombination and selection model of knowledge transfer operating through a social network. We find that ideation is accelerated when people in the organization dynamically churn through a large (ideally the entire population) set of conversational partners over time, which naturally begets short path lengths and eliminates information...
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作者：Musalem, Andres; Olivares, Marcelo; Bradlow, Eric T.; Terwiesch, Christian; Corsten, Daniel
作者单位：Duke University; Columbia University; University of Pennsylvania; IE University
摘要：W e develop a structural demand model that endogenously captures the effect of out-of-stocks on customer choice by simulating a time-varying set of available alternatives. Our estimation method uses store-level data on sales and partial information on product availability. Our model allows for flexible substitution patterns, which are based on utility maximization principles and can accommodate categorical and continuous product characteristics. The methodology can be applied to data from mult...
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作者：Yan, Hongjun
作者单位：Yale University
摘要：Conventional wisdom suggests that investors' independent biases should cancel each other out and have little impact on equilibrium at the aggregate level. In contrast to this intuition, this paper analyzes models with biased investors and finds that biases often have a significant impact on the equilibrium even if they are independent across investors. First, independent biases affect the equilibrium asset price if investor demand for the asset is a nonlinear function of the bias. Second, even...
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作者：Simonsohn, Uri
作者单位：University of Pennsylvania
摘要：Do firms neglect competition when making entry decisions? This paper addresses this question analyzing the time of day at which eBay sellers set their auctions to end. Consistent with competition neglect, it is found that (i) a disproportionate share of auctions end during peak bidding hours, (ii) such hours exhibit lower selling rates and prices, and (iii) peak listing is more prevalent among sellers likely to have chosen ending time strategically, suggesting disproportionate entry is a mista...
