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作者：Rodriguez, Arturo Estrada; Ibrahim, Rouba; Zhan, Dongyuan
作者单位：Universidade Catolica Portuguesa; University of London; University College London
摘要：Queues where people misreport their private information to access service faster are everywhere. Motivated by the prevalence of such behavior in practice, we construct a queueing-game-theoretic model where customers make strategic claims to reduce their waiting time and where the manager decides on the static scheduling policy based on those claims to minimize the expected delay cost in the system. We develop a lying-aversion model where customers incur both delay and lying costs. We run contr...
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作者：Haeckl, Simone; Rege, Mari
作者单位：Universitetet i Stavanger
摘要：We conduct a field experiment in a large corporation to investigate the effects of supportive leadership behaviors on employee satisfaction, engagement, and performance. Treated leaders receive a brief training promoting leadership behaviors that encourage, assure, and value employee efforts. Our experimental design allows us to observe leaders and employees in a subsequent meeting. We find that the leadership training affects the leaders' supportive behaviors and thereby increases employees' ...
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作者：Quispe-Torreblanca, Edika; Gathergood, John; Loewenstein, George; Stewart, Neil
作者单位：University of Leeds; University of Oxford; University of Nottingham; Carnegie Mellon University; University of Warwick
摘要：Using data from an online brokerage, we examine the role of investor logins in trading behavior. We find that a new reference point is created when an investor logs in and views the investor's portfolio. We observe this as a disposition effect on returns since last login in addition to the traditional disposition effect on returns since purchase. Further, these reference points produce a strong interaction such that even a small loss since last login nullifies the positive effect of a gain sin...
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作者：Bidwell, Matthew; Keller, J. R.
作者单位：University of Pennsylvania; Cornell University
摘要：Although internal labor market theory emphasizes promotions as the main form of mobility within organizations, many internal job moves take people sideways into jobs that are at the same hierarchical level as the one that was left. Despite the prevalence of these lateral moves, however, we have little evidence on what role they play in workers' careers. We argue that lateral mobility can facilitate subsequent career advancement by allowing for the development and demonstration of new skills an...
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作者：Bellia, Mario; Pelizzon, Loriana; Subrahmanyam, Marti G.; Yuferova, Darya
作者单位：European Commission Joint Research Centre; EC JRC ISPRA Site; Goethe University Frankfurt; Universita Ca Foscari Venezia; Centre for Economic Policy Research - UK; New York University; New York University; NYU Shanghai; Norwegian School of Economics (NHH)
摘要：Do competition and incentives offered to designated market makers (DMMs) improve market liquidity? We employ data from NYSE Euronext Paris to show that exogenous changes in contract design lead to significant decreases in quoted and effective spreads. In particular, market liquidity increases the most for stocks with the largest increase in competition among DMMs. Our analysis shows that competition among DMMs is an important aspect of contract design, along with elements such as rebates and r...
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作者：Johnson, Travis L.; Weitzner, Gregory
作者单位：University of Texas System; University of Texas Austin; McGill University
摘要：Some mutual funds retain a fraction of securities lending income by employing in-house lending agents. In a model with heterogeneous investors and endogenous delegation to mutual funds, we show that a subset of funds optimally engages in lending fee retention and as a result, overweights high lending fee stocks that endogenously underperform. We find empirical evidence consistent with our model's predictions; active mutual funds we identify as fee retainers invest more in high-fee stocks and u...
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作者：Kumar, Vineet; Sudhir, K.
作者单位：Yale University
摘要：A critical element of word of mouth (WOM) or buzz marketing is to identify seeds, often central actors with high degree in the social network. Seed identification typically requires data on the relevant network structure, which is often unavailable. We examine the impact of WOM seeding strategies motivated by the friendship paradox, which can obtain more central nodes without knowing network structure. Higher degree nodes may be less effective as seeds if these nodes communicate less with neig...
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作者：Charoenwong, Ben; Miao, Meng; Ruan, Tianyue
作者单位：National University of Singapore; Renmin University of China
摘要：Using proprietary data on nonperforming loan (NPL) transactions in China, we document that banks conceal NPLs in disposal transactions that are supposed to resolve NPLs. In these transactions, banks provide financing and retain the credit risks and debt collection obligations. Transaction prices contradict underlying credit risks: Despite being delinquent for 4.5 years, the median NPL package is sold at face value with zero haircut. The majority of NPL packages are resold at a premium to banks...
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作者：Simchi-Levi, David; Zheng, Zeyu; Zhu, Feng
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); University of California System; University of California Berkeley
摘要：Motivated by emerging applications, such as live -streaming e -commerce, promotions, and recommendations, we introduce and solve a general class of nonstationary multi -armed bandit problems that have the following two features: (i) the decision maker can pull and collect rewards from up to K(>= 1) out of N different arms in each time period and (ii) the expected reward of an arm immediately drops after it is pulled and then nonparametrically recovers as the arm's idle time increases. With the...
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作者：Luo, Mei; Zhang, Frank; Zhang, Xinyi
作者单位：Tsinghua University; Yale University; Sun Yat Sen University
摘要：We investigate an unexplored mechanism of earnings management: income shifting from not -wholly -owned subsidiaries to help the parent company avoid losses at the expense of subsidiaries. Consolidated net income attributable to the parent company (i.e., net income) increases through this mechanism, as the parent company enjoys the full amount of the shifted earnings rather than sharing them with minority investors. We design an empirical model to directly estimate the amount of income shifted ...
