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作者：Lim, Stanley Frederick W. T.; Rabinovich, Elliot; Lee, Sanghak; Park, Sungho
作者单位：Michigan State University; Michigan State University's Broad College of Business; Arizona State University; Arizona State University-Tempe; Seoul National University (SNU)
摘要：Efficiently managing inventories requires an accurate estimation of stockout costs. This estimation is complicated by challenges in determining how to compensate consumers monetarily to ensure they will maintain the same level of utility they would have obtained had stockouts not occurred. This paper presents an analysis of these compensation costs as applied to the design of optimal stockout rates by an online retailer marketing to consumers aesthetically substandard fruits and vegetables rej...
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作者：Li, Mengling; Riyantob, Yohanes E.
作者单位：Xiamen University; Nanyang Technological University
摘要：This paper examines the incentive to register for deceased organ donation under alternative organ allocation priority rules, which may prioritize registered donors and/or patients with higher valuations for organ transplantation. Specifically, the donor priority rule grants higher priority on the organ waiting list to those who have previously registered as donors. The dual -incentive priority rules allocate organs based on donor status, followed by individual valuations within the same donor ...
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作者：Chen, Boxiao; Jiang, Jiashuo; Zhang, Jiawei; Zhou, Zhengyuan
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Hong Kong University of Science & Technology; New York University
摘要：We consider a stochastic lost-sales inventory control system with lead time L over a planning horizon T. Supply is uncertain, and it is a function of the order quantity (because of random yield/capacity, etc.). We aim to minimize the T-period cost, a problem that is known to be computationally intractable even under known distributions of demand and supply. In this paper, we assume that both the demand and supply distributions are unknown and develop a computationally efficient online learning...
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作者：Wang, Qiuqi; Wang, Ruodu; Ziegel, Johanna
作者单位：University System of Georgia; Georgia State University; University of Waterloo; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：In the recent Basel Accords, the Expected Shortfall (ES) replaces the Value-at-Risk (VaR) as the standard risk measure for market risk in the banking sector, making it the most important risk measure in financial regulation. One of the most challenging tasks in risk modeling practice is to backtest ES forecasts provided by financial institutions. To design a model-free backtesting procedure for ES, we make use of the recently developed techniques of e-values and e-processes. Backtest e-statist...
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作者：Li, Meng; Pinto, Jedson
作者单位：University of Oklahoma System; University of Oklahoma - Norman; University of Texas System; University of Texas Dallas
摘要：We examine how initial public offerings (IPOs) influence employees' satisfaction with their employers. Using millions of company reviews and a generalized difference-indifferences method, we document that employees become less satisfied after their employers go public. The effect is driven by employees who joined the company before the IPO rather than those who joined after it and is stronger for employees whose tasks relate to regulatory compliance, for smaller firms, and firms with Big 4 aud...
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作者：Lu, Ying; Qiao, Dandan; He, Shu; Tan, Bernard C. Y.
作者单位：IE University; National University of Singapore; State University System of Florida; University of Florida
摘要：Despite the public's familiarity with search engines, little existing research empir-ically investigates the impact of such a search-cost-reduction tool on online market struc-ture. Knowledge scarcity of this question can mainly be attributed to the challenge of accessing detailed data from a cross-website search engine. Using data from the online ille-gal transaction platform, the Darknet markets, we manage to empirically evaluate the influ-ence of a cross-website search engine (i.e., GRAMS) ...
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作者：Lin, Chen; Lu, Fangzhou; Michaely, Roni; Qin, Shihua
作者单位：University of Hong Kong; European Corporate Governance Institute; Lingnan University
摘要：The structure of a special purpose acquisition company (SPAC) generates significant information asymmetry for public investors and provides a special role for its sponsors. Leveraging the unique characteristics of SPACs, this study reexamines the debate over the role of managerial network centrality in affecting M&A outcomes, namely, whether network centrality allows for more private benefits or rather adds value to firms and helps reduce information asymmetry. Specifically, we show that spons...
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作者：Chan, Timothy C. Y.; Chen, Ningyuan; Fernandes, Craig
作者单位：University of Toronto; University of Toronto
摘要：Superstar markets, where a small portion of individuals earn disproportionately high incomes, are common in fields like entrepreneurship, sports, and entertainment. Participants in these markets face significant income uncertainty, which can deter entry or prompt early exit. To address this difficulty, we propose income pools: contracts where individuals agree to share a portion of future earnings with pool members if a specific salary milestone is achieved. To date, hundreds of income pool co...
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作者：Poege, Felix; Gaessler, Fabian; Hoisl, Karin; Harhoff, Dietmar; Dorner, Matthias
作者单位：Bocconi University; Bocconi University; Pompeu Fabra University; Barcelona School of Economics; University of Mannheim; Copenhagen Business School; University of Munich; Centre for Economic Policy Research - UK
摘要：We examine how collaborator loss affects the individual productivity of knowledge workers in corporate research and development (R&D). Specifically, we argue that the effect of such loss depends on whether the lost collaborator was internal or external to the organization, which may have compensatory measures in place to maintain the continuity of R&D efforts. To empirically investigate the effect of internal and external collaborator loss, we leverage 845 unexpected deaths of active inventors...
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作者：Castro-Pires, Henrique
作者单位：University of Miami
摘要：We analyze the effects of retaliation on optimal contracts in a hierarchy consisting of a principal, a monitor, and an agent. With probability m, the monitor observes a signal about the agent's effort and decides what to report to the principal. With probability (1 - m), the monitor only observes an uninformative default signal realization. The agent retaliates against the monitor and the principal whenever the monitor's report reduces the agent's payment from an endogenously determined defaul...
