-
作者：Floyd, Eric; Tomar, Sorabh; Lee, Daniel J.
作者单位：University of California System; University of California San Diego; Southern Methodist University; University of Delaware
摘要：We study the effects of grade nondisclosure (GND) policies implemented within master of business administration (MBA) programs at highly ranked business schools. GND precludes students from disclosing their grades and grade point averages (GPAs) to employers. In the labor market, we find that GND weakens the positive relation between GPA and employer desirability. During the MBA program, we find that GND reduces students' academic effort for a given course by approximately 4.9% relative to com...
-
作者：Zhang, Luhao; Yang, Jincheng; Gao, Rui
作者单位：University of Texas System; University of Texas Austin; University of Texas System; University of Texas Austin
摘要：We study policy optimization for the feature-based newsvendor, which seeks an end-to-end policy that renders an explicit mapping from features to ordering decisions. Most existing works restrict the policies to some parametric class that may suffer from sub -optimality (such as affine class) or lack of interpretability (such as neural networks). Differ-ently, we aim to optimize over all functions of features. In this case, the classic empirical risk minimization yields a policy that is not wel...
-
作者：Rossi, Stefano; Yun, Hayong
作者单位：Bocconi University; Michigan State University; Michigan State University's Broad College of Business
摘要：Does financial reform improve public good provision? We examine state-level adoption of municipal bankruptcy law. After reform, municipalities' borrowing costs decrease and bonds' issuance increase, particularly for bonds financing hospitals; hospitals' investments increase, particularly when using such bonds; local firms' investment and performance increase, particularly in the construction sector. Ex ante, reform occurs earlier in states with weaker unions, stronger bondholders' interests, a...
-
作者：Savva, Nicos; Debo, Laurens; Shumsky, Robert A.
作者单位：University of London; London Business School; Dartmouth College
摘要：Hospitals throughout the developed world are reimbursed based on diagnosis-related groups (DRGs). Under this scheme, patients are divided into clinically meaningful groups, and hospitals receive a fixed fee per patient episode tied to the patient DRG. The fee is based on the average cost of providing care to patients who belong to the same DRG across all hospitals. This scheme, sometimes referred to as yardstick competition, provides incentives for cost reduction, as no hospital wants to opera...
-
作者：Jeziorski, Przemyslaw
作者单位：University of California System; University of California Berkeley
摘要：The paper introduces a method to conduct a forward-looking antitrust review of horizontal mergers. The method utilizes a dynamic oligopoly model in which mergers, entry/exit, and product repositioning are endogenous. The model provides long-run industry trajectories with and without the merger under review, enabling the regulator to obtain dynamically robust welfare comparisons. The paper demonstrates the framework's application to regulate the U.S. radio broadcasting industry. In particular, ...
-
作者：dehaan, Ed; de Kok, Ties; Matsumoto, Dawn; Rodriguez-Vazquez, Edgar
作者单位：University of Washington; University of Washington Seattle; City University of New York (CUNY) System; Baruch College (CUNY)
摘要：The timely flow of financial information is critical for efficient capital market functioning, yet we have little understanding of firms' and auditors' collective abilities to maintain timely financial reporting when under duress. We use COVID as a stress test case to examine whether reporting systems can withstand systemic increases in complex economic events and coordination challenges. Despite COVID-related challenges persisting through 2020 and beyond, we document surprisingly modest avera...
-
作者：Bahar, Dany; Choudhury, Prithwiraj; Kim, Do Yoon; Koo, Wesley W.
作者单位：Brown University; Harvard University; Boston College; INSEAD Business School
摘要：We study whether, when, and how better connectivity through nonstop flights leads to positive innovation outcomes for firms in the global context. Using unique data of all flights emanating from 5,015 airports around the globe from 2005 to 2015 and exploiting a regression discontinuity framework, we report that a 10% increase in nonstop flights between two locations leads to a 3.4% increase in citations and a 1.4% increase in the production of collaborative patents between those locations. Thi...
-
作者：Palley, Asa B.; Satopaa, Ville A.
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business; INSEAD Business School
摘要：A combination of point estimates from multiple judges often provides a more accurate aggregate estimate than a point estimate from a single judge, a phenomenon called the wisdom of crowds. However, if the judges use shared information when forming their estimates, the simple average will end up overemphasizing this common component at the expense of the judges' private information. A decision maker could in theory obtain a more accurate estimate by appropriately combining all information behin...
-
作者：Buckman, Joseph R.; Adjerid, Idris; Tucker, Catherine
作者单位：University System of Georgia; Georgia State University; Virginia Polytechnic Institute & State University; Massachusetts Institute of Technology (MIT)
摘要：The COVID-19 pandemic has killed millions and gravely disrupted the world's economy. A safe and effective vaccine was developed remarkably swiftly, but as of yet, uptake of the vaccine has been slow. This paper explores one potential explanation of delayed adoption of the vaccine, which is data privacy concerns. We explore two contrasting regulations that vary across U.S. states that have the potential to affect the perceived privacy risk associated with receiving a COVID-19 vaccine. The first...
-
作者：Kamei, Kenju; Markussen, Thomas
作者单位：Keio University; University of Copenhagen
摘要：A novel laboratory experiment is used to show that mismatching between task preferences and task assignment strongly undermines worker performance and leads to free riding in teams. Unlike prior experiments using real effort tasks, task preferences are elicited from all workers. Under team-based remuneration (revenue sharing), free riding is significant, but this effect is largely driven by those working on undesired tasks. Workers' endogenous sorting into tasks improves productivity as it mit...
