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作者：Bushee, Brian J.; Keusch, Thomas; Kim-Gina, Jessica
作者单位：University of Pennsylvania; INSEAD Business School; University of California System; University of California Los Angeles
摘要：Some firms in the technology sector choose to cooperate with competitors (coopetition) in standard setting organizations (SSOs). These SSOs create technology standards that facilitate rapid market penetration of new technologies such as Wi-Fi, Bluetooth, and 4G. Active participation in the standard setting process requires the exchange of proprietary information with competitors. Although the goal of such information sharing is to further a technology or a product market, firms potentially rec...
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作者：Feylessoufi, Antoine; Kavadias, Stylianos; Ralph, Daniel
作者单位：University of Cambridge; University of London; University College London
摘要：Organizations face challenges when trying to effectively introduce new operational practices that substitute for existing ones. We study how the dynamics due to social comparisons between employees give rise to individual strategic considerations and eventually shape the organizational adoption outcome. We develop an evolutionary game theory model that accounts for these microlevel individual adoption decisions and their impact on macrolevel population adoption equilibria. Social comparisons i...
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作者：Park, Jimin; Lim, Michael K.; Murali, Karthik
作者单位：Massachusetts Institute of Technology (MIT); Seoul National University (SNU); Oregon State University
摘要：Informal cross-border trade (ICBT) refers to the illegal activities of crossborder commerce conducted by unregistered small-scale traders. We seek to develop insights to understand the ICBT value chain and offer policy recommendations to successfully integrate it into the formal economy. Using a game-theoretic model, we analyze the operations and key market dynamics of ICBT. We analyze the policy implications of three representative UN directives: enhancing marginalized traders' access to form...
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作者：Luo, Cheng; Jiang, Zhenhui (Jack); Li, Xiuping; Yi, Cheng; Tucker, Catherine
作者单位：Tianjin University; University of Hong Kong; National University of Singapore; Tsinghua University; Massachusetts Institute of Technology (MIT)
摘要：Online video platforms face the challenge of balancing the needs of their users with those of their advertisers. Although users typically prefer to have less intrusive ads, advertisers aim to effectively catch user attention. This paper investigates how the provision of ad choice affects the effectiveness of video advertising. We argue that allowing users to choose an ad to view may trigger a conjecture-formation-and-confirmation process that motivates users to pay more attention to the select...
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作者：Slutzky, Pablo; Zeume, Stefan
作者单位：University System of Maryland; University of Maryland College Park; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We exploit staggered municipality-level antimafia enforcement actions in Italy over the 1995-2015 period to study how the presence of organized crime affects firms. Following enforcement actions, we find increases in competition (i) among firms and (ii) for public procurement contracts. Firms that do not exit after a weakening of organized crime shrink in size, more so when operating in the nontradable sector. Our findings are consistent with organized crime acting as a barrier to entry and af...
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作者：Benzell, Seth G.; Hersh, Jonathan; Van Alstyne, Marshall
作者单位：Chapman University System; Chapman University; Massachusetts Institute of Technology (MIT); Boston University
摘要：Traditional asset management strategy has emphasized building barriers to entry or closely guarding unique assets to maintain a firm's comparative advantage. A new inverted firm paradigm, however, has emerged. Under this strategy, firms share data seeking to become platforms by opening digital services to third parties and capturing part of their external surplus. This contrasts with a pipeline strategy where the firm itself creates value. This paper quantitatively estimates the effect of adop...
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作者：Anderson, Chris; Liu, Weiling
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Northeastern University
摘要：We propose a novel measure of intermediary risk exposure based on the fraction of all trade that is conducted between dealers, called the interdealer trade (IDT) measure. Intuitively, when dealers' aggregate risk exposure rises, they trade more with each other to redistribute inventory shocks. Consistent with risk exposures relating to expected returns, market-specific IDT measures add incremental return predictability across five different markets. For example, one-standard-deviation increase...
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作者：Mohrschladt, Hannes; Baars, Maren; Langer, Thomas
作者单位：University of Munster
摘要：Heuristics and biases in probabilistic belief updating have typically been examined in simple two-state experimental settings. We argue that the two-state setting has probabilistic properties that do not extend to settings with more states. With three states, we find that individuals apply similar heuristics, such as representativeness and anchoring, when providing posterior probability distributions. However, because of the different normative benchmark, the use of these heuristics results in...
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作者：Yao, Yunfei (Jesse)
作者单位：Chinese University of Hong Kong
摘要：Consumers frequently search for information before making decisions. Because their search and purchase decisions depend on the information environment, firms have a strong incentive to influence it. This paper endogenizes the consumer's information environment from the firm's perspective and endogenizes the search decision from the consumer's perspective. We consider a dynamic model where a firm sequentially persuades a consumer to purchase the product. The consumer only wishes to buy the prod...
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作者：Lo, Andrew W.; Zhang, Ruixun
作者单位：Massachusetts Institute of Technology (MIT); The Santa Fe Institute; Peking University
摘要：We propose a quantitative framework for assessing the financial impact of any form of impact investing, including socially responsible investing; environmental, social, and governance (ESG) objectives; and other nonfinancial investment criteria. We derive conditions under which impact investing detracts from, improves on, or is neutral to the performance of traditional mean-variance optimal portfolios, which depends on whether the correlations between the impact factor and unobserved excess re...
