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作者：Attema, Arthur E.; Bleichrodt, Han; Rohde, Kirsten I. M.; Wakker, Peter P.
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：This paper introduces time-tradeoff (TTO) sequences as a general tool to analyze intertemporal choice. We give several applications. For empirical purposes, we can measure discount functions without requiring any measurement of or assumption about utility. We can quantitatively measure time inconsistencies and simplify their qualitative tests. TTO sequences can be administered and analyzed very easily, using only pencil and paper. For theoretical purposes, we use TTO sequences to axiomatize (q...
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作者：Yang, Jian; Zhou, Yinggang; Wang, Zijun
作者单位：University of Colorado System; University of Colorado Denver; Chinese University of Hong Kong; Texas A&M University System; Texas A&M University College Station
摘要：In the context of a three-moment intertemporal capital asset pricing model specification, we characterize conditional coskewness between stock and bond excess returns using a bivariate regime-switching model. We find that both conditional U. S. stock coskewness (the relation between stock return and bond volatility) and bond coskewness (the relation between bond return and stock volatility) command statistically and economically significant negative ex ante risk premiums. The impacts of stock ...
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作者：Healy, Paul J.; Linardi, Sera; Lowery, J. Richard; Ledyard, John O.
作者单位：University System of Ohio; Ohio State University; California Institute of Technology; University of Texas System; University of Texas Austin
摘要：Double auction prediction markets have proven successful in large-scale applications such as elections and sporting events. Consequently, several large corporations have adopted these markets for smaller-scale internal applications where information may be complex and the number of traders is small. Using laboratory experiments, we test the performance of the double auction in complex environments with few traders and compare it to three alternative mechanisms. When information is complex we f...
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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：Ho, Teck-Hua; Lim, Noah; Cui, Tony Haitao
作者单位：University of California System; University of California Berkeley; University of Wisconsin System; University of Wisconsin Madison; University of Minnesota System; University of Minnesota Twin Cities
摘要：We propose a behavioral theory to predict actual ordering behavior in multilocation inventory systems. The theory rests on a well-known stylized fact of human behavior: people's preferences are reference dependent. We incorporate reference dependence into the newsvendor framework by assuming that there are psychological costs of leftovers and stockouts. We also hypothesize that the psychological aversion to leftovers is greater than the disutility for stockouts. We then experimentally test the...
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作者：Wang, Xiaofang; Debo, Laurens G.; Scheller-Wolf, Alan; Smith, Stephen F.
作者单位：Renmin University of China; University of Chicago; Carnegie Mellon University; Carnegie Mellon University
摘要：In the health-care domain, diagnostic service centers provide advice to patients over the phone about what the most appropriate course of action is based on their symptoms. Managers of such centers must strike a balance between accuracy of advice, callers' waiting time, and staffing costs by setting the appropriate capacity (staffing) and service depth. We model this problem as a multiple-server queueing system, with the servers performing a sequential testing process and the customers decidin...
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作者：Li, Gang; Zhang, Chu
作者单位：Hong Kong Baptist University; Hong Kong University of Science & Technology
摘要：In this paper, we investigate the methodological issue of determining the number of state variables required for options pricing. After showing the inadequacy of the principal component analysis approach, which is commonly used in the literature, we adopt a nonparametric regression technique with nonlinear principal components extracted from the implied volatilities of various moneyness and maturities as proxies for the transformed state variables. The methodology is applied to the prices of S...
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作者：Ibragimov, Rustam; Walden, Johan
作者单位：Harvard University; University of California System; University of California Berkeley
摘要：We develop a framework for the optimal bundling problem of a multiproduct monopolist, who provides goods to consumers with private valuations that are random draws from a distribution with heavy tails. We show that in the Vickrey auction setting, the buyers prefer separate provision of the goods to any bundles. We also provide a complete characterization of the optimal bundling strategies for a monopolist producer, who provides goods for profit-maximizing prices. For products with low marginal...
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作者：Gopal, Ram D.; Gupta, Alok
作者单位：University of Connecticut; University of Minnesota System; University of Minnesota Twin Cities
摘要：Faced with the sustained problem of piracy that costs nearly $40 billion in annual revenue losses, the software industry has adopted a number of technical, legal, and economic strategies to curb piracy and stem the resulting losses. Our work complements and contributes to the existing literature by exploring the possible effect of another economic lever-product bundling-on the relationship governing piracy and seller profits. The traditional economic rationale of demand pooling from bundling t...
