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作者：Sheng, Lifei; Zhao, Xuying; Ryan, Christopher Thomas
作者单位：University of Houston System; University of Houston; University of Houston Clear Lake; Texas A&M University System; Texas A&M University College Station; University of British Columbia
摘要：In the mobile video games industry, a common in-app purchase is for additional moves or time in single-player puzzle games. We call these in-app purchases bonus actions . In some games, bonus actions can only be purchased in advance of attempting a level of the game (pure advance sales (PAS)), yet in other games, bonus actions can only be purchased in a spot market that appears when an initial attempt to pass the level fails (pure spot sales). Some games offer both advance and spot purchases (...
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作者：Dimant, Eugen; Gelfand, Michele; Hochleitner, Anna; Sonderegger, Silvia
作者单位：University of Pennsylvania; Stanford University; University of Nottingham
摘要：Descriptive norms, the behavior of other individuals in one's reference group, play a key role in shaping individual decisions in managerial contexts and beyond. Organizations are increasingly using information about descriptive norms to nudge positive behavior change. When characterizing peer decisions, a standard approach in the literature is to focus on average behavior. In this paper, we argue both theoretically and empirically that not only averages but also the shape of the whole distrib...
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作者：Wu, Lynn; Lou, Bowen; Hitt, Lorin M.
作者单位：University of Pennsylvania; University of Connecticut
摘要：We examine the role of AI analytics in facilitating innovation in firms that have gone through IPO. Using patent data on over 1,000 publicly traded firms, we find that firms acquiring AI analytics capability post-IPO experience less of a decline in innovation quality compared with similar firms that have not acquired that capability. This effect is greater when only machine learning capabilities are considered. Moreover, we find this sustained rate of innovation is driven principally by the co...
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作者：Zhao, Jinglong; Zhou, Zijie
作者单位：Boston University; Massachusetts Institute of Technology (MIT)
摘要：Practitioners and academics have long appreciated the benefits of covariate balancing when they conduct randomized experiments. For web-facing firms running online A/B tests, however, it still remains challenging in balancing covariate information when experimental subjects arrive sequentially. In this paper, we study an online experimental design problem, which we refer to as the online blocking problem. In this problem, experimental subjects with heterogeneous covariate information arrive se...
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作者：Min, Seungki; Maglaras, Costis; Moallemi, Ciamac C.
作者单位：Korea Advanced Institute of Science & Technology (KAIST); Columbia University
摘要：We consider a finite -horizon multiarmed bandit (MAB) problem in a Bayesian setting, for which we propose an information relaxation sampling framework. With this framework, we define an intuitive family of control policies that include Thompson sampling (TS) and the Bayesian optimal policy as endpoints. Analogous to TS, which at each decision epoch pulls an arm that is best with respect to the randomly sampled parameters, our algorithms sample entire future reward realizations and take the cor...
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作者：Song, Jing-Sheng; Zhang, Yue
作者单位：Duke University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Industry 4.0 integrates digital and physical technologies to transform work management, where two core enablers are the internet of things (IoT) and threedimensional printing (3DP). IoT monitors complex systems in real time, whereas 3DP enables agile manufacturing that can respond to real-time information. However, the details of how these two can be integrated are not yet clear. To gain insights, we consider a scenario where a three-dimensional (3D) printer supplies a critical part to multipl...
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作者：Karolyi, Stephen; Ruchti, Thomas; Truong, Phong
作者单位：United States Department of the Treasury; Office of the Comptroller of the Currency; United States Department of the Treasury; Office of Financial Research; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park
摘要：Neuroscience shows that human brains are neurologically constrained to process small numbers linearly and large numbers logarithmically, leading to underreactions to larger numbers as their perceived difference becomes smaller. We test this hypothesis in the context of earnings announcements and find that investors respond less in the short term to earnings news for stocks with high earnings per share magnitudes, exacerbating postearnings announcement drift for these stocks. These findings are...
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作者：Yu, Peiwen; Zhang, Jiahua
作者单位：Chongqing University; Dongbei University of Finance & Economics
摘要：Data analytics enable firms to offer personalized prices to targeted consumers but at a cost. We study a competitive personalized pricing game where the entrant is uncertain about the incumbent's targeting cost. We demonstrate that implementing personalized pricing through a list price-discount scheme allows the incumbent to signal its targeting cost via the list price. This signaling mechanism is effective because the list price serves as a price ceiling, which limits the incumbent's ability ...
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作者：Lambrecht, Marco; Sofianos, Andis; Xu, Yilong
作者单位：Hanken School of Economics; Durham University; Utrecht University
摘要：We investigate how key features associated with the Proof-of-Work consensus mechanism of Bitcoin (commonly referred to as mining) affect pricing. In a controlled laboratory experiment, we observe that price bubble formation can be attributed to mining. Moreover, overpricing is more pronounced if the mining capacity is centralized to a small group of individuals. The order book data reveal that miners seem to play a crucial role in bubble formation. Further probing the mechanism in a second stu...
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作者：Lu, Joy; Hutchinson, J. Wesley
作者单位：Carnegie Mellon University; University of Pennsylvania
摘要：Online retail settings often present shoppers with large, complex choice sets where they need to quickly and dynamically weigh the benefits and costs of search within each web page. We build a model of information search within a web page using eye- tracking data collected during two incentive-compatible online shopping experiments, in which participants browsed the websites of two different clothing retailers (Experiments 1 and 2), as well as previously reported data from a laboratory experim...
