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作者：Lobo, Miguel Sousa; Yao, Dai
作者单位：INSEAD Business School; Hong Kong Polytechnic University
摘要：How frequent are large disagreements in human judgment? The substantial literature relating to expert assessments of real-valued quantities and their aggregation almost universally assumes that judgment errors follow a jointly normal distribution. We investigate this question empirically using 73 data sets from four different sources that include over 169,000 estimates and forecasts. We find incontrovertible evidence for excess kurtosis: that is, of fat tails. Despite the diversity of the anal...
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作者：Elias, Julio; Lacetera, Nicola; Macis, Mario
作者单位：University of Bologna; University of Toronto; Johns Hopkins University
摘要：Public authorities often introduce price controls following price surges, potentially causing inefficiencies and exacerbating shortages. A survey experiment with 7,612 Canadian and U.S. respondents shows that unregulated price surges raise moral objections and widespread disapproval. However, acceptance increases and demand for regulation declines when participants are prompted to consider economic trade-offs between controlled and unregulated prices, whereby incentives from higher prices lead...
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作者：Keyvanshokooh, Esmaeil; Zhalechian, Mohammad; Shi, Cong; Van Oyen, Mark P.; Kazemian, Pooyan
作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School; Indiana University System; IU Kelley School of Business; Indiana University Bloomington; University of Miami; University of Michigan System; University of Michigan; University System of Ohio; Case Western Reserve University
摘要：Optimizing the treatment regimen is a fundamental medical decision-making problem. This can be thought of as a two-dimensional decision-making problem with a nested structure because it involves determining both the optimal medication and its optimal dose. Identifying the most effective medication for an individual often poses considerable difficulty, and even when a suitable medication is ascertained, dosing it optimally remains a significant challenge. Making these two nested decisions neces...
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作者：Arora, Srishti; Choudhary, Vivek; Kireyev, Pavel
作者单位：INSEAD Business School; Nanyang Technological University; INSEAD Business School
摘要：In the last two decades, last-mile delivery (LMD) firms have seen immense growth fueled by the success of e-commerce, leading to faster and cheaper deliveries. Operating on thin margins, LMD firms strive for successful first-time deliveries to avoid the financial and reputational costs of reattempts. Delivery agents (DAs) are integral to LMD efficiency, influencing customer experience, delivery success, and productivity. However, most LMD performance enhancement research focuses on process, te...
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作者：Berkowitz, Daniel; Boslett, Andrew J.; Brown, Jason P.; Weber, Jeremy G.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Amazon.com; Federal Reserve System - USA; Federal Reserve Bank - Kansas City; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：We use the origins of fracking to study how people respond to a large and uncertain permanent income shock. Following the arrival of news in 2003 that fracking was commercially viable, the average person owning rights to natural gas deposits in the Barnett Shale could plausibly expect to earn a present value of about $33,000 from leasing the rights to energy firms. Anticipating the income, people who signed leases after 2006 borrowed $5,400 more than nonleaseholders as of 2006. Leases not yet ...
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作者：Choi, Lyungmae; Faurel, Lucile; Hillegeist, Stephen
作者单位：University of Sydney; Arizona State University-Tempe; Arizona State University; Arizona State University-Tempe
摘要：Insider trading conveys insiders' private information to outsiders. This private information potentially benefits rival firms, which may reduce the competitive advantage of the insiders' firms. Using a composite proprietary cost measure, we find proprietary costs are negatively associated with insiders' purchases, especially when their trades are more likely to be informative to rivals. Consistent with proprietary costs increasing the costs of insider purchases and, hence, the expected benefit...
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作者：Huang, Zongbo
作者单位：The Chinese University of Hong Kong, Shenzhen; The Chinese University of Hong Kong, Shenzhen
摘要：I analyze runs on credit lines in an infinite-horizon banking model, focusing on the strategic complementarity between bankers and credit line borrowers. Panic drawdowns by borrowers coupled with bank liquidity rationing can mutually reinforce each other, creating a vicious cycle. Using data from U.S. banks, I estimate the model and quantify the amplification effect arising from strategic complementarity. This amplification effect accounted for two-thirds of the contraction of bank credit duri...
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作者：Liu, YiChun Miriam; Buschken, Joachim; Orme, Bryan; Allenby, Greg M.
作者单位：University System of Maryland; Towson University; University System of Ohio; Ohio State University
摘要：. Customer preferences for product features play an important role in designing successful goods and services. Preferences for features are typically obtained by utilizing a model of choice where the utility for all but one level of an attribute is estimable. That is, the traditional discrete choice model can provide information on the change in utility between attribute-levels, but cannot separately estimate the utility associated with all levels of an attribute. In this paper, we propose a m...
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作者：Zhang, Jianqiang; Li, Krista J.
作者单位：Jiangnan University; Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：Firms frequently extend their brand by introducing products in new categories and offering free samples or demonstrations for customers to learn about the quality of the new products before purchasing. When introducing new products based on customers' purchase behavior in the former category, firms face two customer segments: their own customers and the competitor's customers. Firms can practice behavior-based pricing (BBP) by charging different prices in the two segments. Moreover, firms can ...
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作者：Bergantinos, Gustavo; Moreno-Ternero, Juan D.
作者单位：Universidade de Vigo; Universidad Pablo de Olavide
摘要：We study the problem of sharing the revenues raised from subscriptions to music streaming platforms among content providers. We provide direct, axiomatic, and game theoretical foundations for two focal (and somewhat polar) methods widely used in practice: pro rata and user centric. The former rewards artists proportionally to their number of total streams. With the latter, each user's subscription fee is proportionally divided among artists streamed by that user. We also provide foundations fo...
