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作者：Lim, Jong Myeong; Moon, Ken; Savin, Sergei
作者单位：University of Miami; University of Pennsylvania
摘要：The Hospital Value-Based Purchasing (VBP) Program is Medicare's implementation of yardstick incentives applied to hospitals in the United States. Under the VBP Program, 2% of all Medicare payments to hospitals, estimated to be U.S. $1.9 billion in fiscal year 2021, are withheld and redistributed based on their relative performance in the quality of delivered care. We develop a dynamic mean-field equilibrium model in which hospitals are engaged in repeated competition under yardstick incentives...
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作者：Chen, Mingliu; Hu, Ming
作者单位：University of Texas System; University of Texas Dallas; University of Toronto
摘要：We study a courier dispatching problem in an on -demand delivery system in which customers are sensitive to delay. Specifically, we evaluate the effect of temporal pooling by comparing systems using the dedicated strategy, with which only one order is delivered per trip, versus the pooling strategy, with which a batch of consecutive orders is delivered on each trip. We capture the courier delivery system's spatial dimension by assuming that, following a Poisson process, demand arises at a unif...
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作者：Crosetto, Paolo; Gaudeul, Alexia
作者单位：Communaute Universite Grenoble Alpes; Institut National Polytechnique de Grenoble; Universite Grenoble Alpes (UGA); Centre National de la Recherche Scientifique (CNRS); INRAE; European Commission Joint Research Centre
摘要：We explore the nature and robustness of the attraction effect. The attraction effect can be seen as a persistent bias or as the result of heuristics that may not persist upon reflection. We provide robust experimental evidence that the attraction effect first rises and then falls over time when participants are incentivized to make a quick choice they can later revise. Participants in two experiments under continuous time pressure make choices among options with the aim to maximize an objectiv...
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作者：Kim, Dong Soo; Lee, Sanghak; Hur, Taegyu; Kim, Jaehwan; Allenby, Greg M.
作者单位：University System of Ohio; Ohio State University; Arizona State University; Arizona State University-Tempe; Iowa State University; Korea University
摘要：Consumers encounter costs and inconvenience in the purchase and consumption of goods. Time, effort, training, and expertise, also referred to as access costs, are examples of factors that constrain the ability of consumers to derive utility from offerings beyond the price of a good. Economies of scope exist when household production of these factors share commonalities among choice alternatives, making it more likely that some products would be purchased and consumed in conjunction with others...
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作者：Busse, Jeffrey A.; Ding, Jing; Jiang, Lei; Wu, Ke
作者单位：Emory University; Tongji University; Tsinghua University; University System of Ohio; Kent State University; Kent State University Salem; Kent State University Kent; Renmin University of China
摘要：We use the dynamic conditional correlation (DCC) model to estimate daily frequency mutual fund betas. Compared with traditional estimates, daily betas better capture changes in fund risk stemming from daily fund trading activity. Based on these beta estimates and a two -stage estimation procedure, we find significant evidence of market timing ability among actively managed U.S. equity funds that is not apparent via standard approaches. Unlike traditional measures, our timing estimates correlat...
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作者：Bertazzi, Luca; Mogre, Riccardo; Trichakis, Nikolaos
作者单位：University of Brescia; Durham University; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：We deal with the problem of managing a project or a complex operational process by controlling the execution pace of the activities it comprises. We consider a setting in which these activities are clearly defined, are subject to precedence constraints, and progress randomly. We formulate a discrete -time, infinite -horizon Markov decision process in which the manager reviews progress in each period and decides which activities to expedite to balance expediting costs with delay costs. We deriv...
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作者：Gans, Joshua S.; Halaburda, Hanna
作者单位：University of Toronto; National Bureau of Economic Research; New York University
摘要：The core premise of permissionless blockchains is their reliable and secure operation without the need to trust any individual agent. At the heart of blockchain consensus mechanisms is an explicit cost (e.g., mining cost) for participation in the network and the opportunity to add blocks to the blockchain. A key rationale for that cost is to make attacks on the network, which could be theoretically carried out if a majority of nodes were controlled by a single entity, too expensive to be worth...
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作者：Van Parys, Bart; Golrezaei, Negin
作者单位：Massachusetts Institute of Technology (MIT)
摘要：We study structured multiarmed bandits, which is the problem of online decision -making under uncertainty in the presence of structural information. In this problem, the decision -maker needs to discover the best course of action despite observing only uncertain rewards over time. The decision -maker is aware of certain convex structural information regarding the reward distributions; that is, the decision -maker knows that the reward distributions of the arms belong to a convex compact set. I...
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作者：Guasoni, Paolo; Huberman, Gur; Shikhelman, Clara
作者单位：Dublin City University; University of Bologna; Columbia University
摘要：Compared with existing payment systems, Bitcoin's throughput is low. Designed to address Bitcoin's scalability challenge, the Lightning Network (LN) is a protocol allowing two parties to secure bitcoin payments and escrow holdings between them. In a lightning channel, each party commits collateral toward future payments to the counterparty and payments are cryptographically secured updates of collaterals. The network of channels increases transaction speed and reduces blockchain congestion. Th...
