-
作者：Dellarocas, Chrysanthos; Wood, Charles A.
作者单位：University System of Maryland; University of Maryland College Park; University of Notre Dame
摘要：Most online feedback mechanisms rely on voluntary reporting of privately observed outcomes. This introduces the potential for reporting bias, a situation where traders exhibit different propensities to report different outcome types to the system. Unless properly accounted for, reporting bias may severely distort the distribution of public feedback relative to the underlying distribution of private transaction outcomes and, thus, hamper the reliability of feedback mechanisms. This study offers...
-
作者：Gallego, Guillermo; Kou, S. G.; Phillips, Robert
作者单位：Columbia University
摘要：A callable product is a unit of capacity sold to self-selected low-fare customers who willingly grant the capacity provider the option to call the capacity at a prespecified recall price. We analyze callable products in a finite-capacity setting with two fare classes where low-fare customers book first, and show that callable products provide a riskless source of additional revenue to the capacity provider. An optimal recall price and an optimal discount-fare booking limit for the two-period p...
-
作者：Natarajan, Karthik; Pachamanova, Dessislava; Sim, Melvyn
作者单位：National University of Singapore; Babson College; Nanyang Technological University; National University of Singapore; Singapore-MIT Alliance for Research & Technology Centre (SMART); Massachusetts Institute of Technology (MIT); National University of Singapore
摘要：Value-at-Risk (VaR) is one of the most widely accepted risk measures in the financial and insurance industries, yet efficient optimization of VaR remains a very difficult problem. We propose a computationally tractable approximation method for minimizing the VaR of a portfolio based on robust optimization techniques. The method results in the optimization of a modified VaR measure, Asymmetry-Robust VaR (ARVaR), that takes into consideration asymmetries in the distributions of returns and is co...
-
作者：de Bettignies, Jean-Etienne; Chemla, Gilles
作者单位：Queens University - Canada; Imperial College London
摘要：We provide new rationales for corporate venturing, based on competition for talented managers. As returns to venturing increase, firms engage in corporate venturing for reasons other than, capturing these returns. First, higher venturing returns increase managerial compensation, to which firms respond by increasing incentives. Managers increase effort, prompting firms to reallocate them to new ventures, where the marginal product of effort is highest. Second, as returns to venturing become lar...
-
作者：Ryvkin, Dmitry; Ortmann, Andreas
作者单位：State University System of Florida; Florida State University; Charles University Prague; Czech Academy of Sciences; Charles University Prague; Czech Academy of Sciences
摘要：Tournaments of heterogeneous candidates can be thought of as probabilistic mechanisms that select high-quality agents. We quantify the efficiency of such selection by the likelihood of selecting the best player, here termed the predictive power. We study three widely used tournament formats: contests, binary elimination tournaments, and round-robin tournaments. Using a simple model, we demonstrate analytically, and through simulations, how the predictive power of these formats depends on the n...
-
作者：Wu, Shin-yi; Hitt, Lorin M.; Chen, Pei-yu; Anandalingarn, G.
作者单位：Nanyang Technological University; University of Pennsylvania; Carnegie Mellon University; University System of Maryland; University of Maryland College Park
摘要：This paper proposes using nonlinear mixed-integer programming to solve the customized bundle-pricing problem in which consumers are allowed to choose up to N goods out of a larger pool of J goods. Prior work has suggested that this mechanism has attractive features for the pricing of information and other low-marginal cost goods. Although closed-form solutions exist for this problem for certain cases of consumer preferences, many interesting scenarios cannot be easily handled without a numeric...
-
作者：Dutta, Sunil
作者单位：University of California System; University of California Berkeley
摘要：This paper characterizes optimal pay-performance sensitivities of compensation contracts for managers who have private information about their skills, and those skills affect their outside employment opportunities. The model presumes that the rate at which a manager's opportunity wage increases in his expertise depends on the nature of that expertise, i.e., whether it is general or-firm specific. The analysis demonstrates that when managerial expertise is largely firm specific (general), the o...
-
作者：Chen, Yubo; Xie, Jinhong
作者单位：University of Arizona; State University System of Florida; University of Florida
摘要：As a new type of word-of-mouth information, online consumer product review is an emerging market phenomenon that is playing an increasingly important role in consumers' purchase decisions. This paper argues that online consumer review, a type of product information created by users based on personal usage experience, can serve as a new element in the marketing communications mix and work as free sales assistants to help consumers identify the products that best match their idiosyncratic usage ...
-
作者：Mithas, Sunil; Krishnan, M. S.
作者单位：University System of Maryland; University of Maryland College Park; University of Michigan System; University of Michigan
摘要：This paper studies the influence of supply-side and demand-side factors on the compensation of information technology (IT) professionals and considers the human capital and institutional explanations. We focus on returns to an MBA and the IT-related experience of IT professionals and use the largest data set of IT professionals that has been compiled to date in the United States to answer our research questions. We find that firms pay a significant premium for an MBA. Although firms value the ...
-
作者：Bailey, Warren; Kumar, Alok; Ng, David
作者单位：Cornell University; University of Texas System; University of Texas Austin; Cornell University
摘要：Using thousands of brokerage accounts of U.S. individual investors, we analyze the motivations and consequences of foreign equity investment. We find that diversification is not the only reason that investors trade foreign securities. While wealthier, more experienced investors enjoy an informational advantage and, thus, are more likely to invest overseas and experience good portfolio performance, other investors appear to venture. abroad for the wrong reasons. In particular, behaviorally bias...
