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作者：Baucells, Manel; Heukamp, Franz H.
作者单位：University of Navarra; IESE Business School
摘要：We generalize and extend the second-order stochastic dominance condition for expected utility to cumulative prospect theory. The new definitions include preferences represented by S-shaped value functions, inverse S-shaped probability weighting functions, and loss aversion. The stochastic dominance conditions supply a framework to test different features of cumulative prospect theory. In the experimental part of the paper, we offer a test of several joint hypotheses on the value function and t...
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作者：Bearden, J. Neil; Rapoport, Amnon; Murphy, Ryan O.
作者单位：University of Arizona; University of Arizona; Hong Kong University of Science & Technology; Columbia University
摘要：We consider a class of sequential observation and selection decision problems in which applicants are interviewed one at a time, decision makers only learn the applicant's quality relative to the applicants that have been interviewed and rejected, only a single applicant is selected, and payoffs increase in the absolute quality of the selected applicant. Compared to the optimal decision policy, which we compute numerically, results from two experiments show that subjects terminated their searc...
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作者：Baron, Robert A.; Ensley, Michael D.
作者单位：Rensselaer Polytechnic Institute
摘要：It is suggested that the recognition of new business opportunities often involves pattern recognition-the cognitive process through which individuals identify meaningful patterns in complex arrays of events or trends. Basic research on pattern recognition indicates that cognitive frameworks acquired through experience (e.g., prototypes) play a central role in this process. Such frameworks provide individuals with a basis for noticing connections between seemingly independent events or trends (...
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作者：Anderson, Mark C.; Banker, Rajiv D.; Ravindran, Sury
作者单位：University of Texas System; University of Texas Dallas; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; Arizona State University; Arizona State University-Tempe
摘要：The year 2000 (Y2K) countdown provided a uniquely visible instance of spending on information technology (IT) by U.S. companies. With public attention riveted on potential Y2K malfunctions, managers were forced to evaluate their IT and make decisions about whether to modify or replace existing systems. In the aftermath of Y2K, critics charged that the problem was overblown and that companies overspent on IT. In contrast, we posit in this paper that efforts companies made to renew and upgrade t...
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作者：Czerwinski, David; Barnett, Arnold
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Within the First World, observed differences across air carriers in passenger death risk are almost never statistically significant. But given the rarity of fatal crashes, even a lopsided split of crashes across airlines is unlikely to achieve significance. For greater perspective about relative airline safety performance, we supplemented an analysis of overall mortality data with a two-part statistical procedure. The first part-which was inspired by the way the Oakland Athletics Major League ...
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作者：Andrade, Rafael; Lisser, Abdel; Maculan, Nelson; Plateau, Gerard
作者单位：Universite Paris Saclay; Universidade Federal do Rio de Janeiro; Universite Paris 13
摘要：In this paper we present branch-and-bound (B&B) strategies for two-stage stochastic integer network design-based models with integrality constraints in the first-stage variables. These strategies are used within L-shaped decomposition-based B&B framework. We propose a valid inequality in order to improve B&B performance. We use this inequality to implement a multirooted B&B tree. A selective use of optimality cuts is explored in the B&B approach and we also propose a subgradient-based techniqu...
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作者：Ge Zhang
作者单位：University of Louisiana System; University of New Orleans
摘要：This paper investigates a market-valuation-based hypothesis for employee stock options (ESOs). Given that stock prices do not track fundamental values perfectly, I show that ESOs can be used to sell overvalued stocks and to increase long-term shareholder value: The key cross-sectional prediction of the valuation rationale is that the conditional probability of granting options to employees and the amount of options granted to them are positively correlated with market valuation and volatility....
