-
作者：de Corniere, Alexandre; Sarvary, Miklos
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Columbia University
摘要：The growing influence of internet platforms acting as content aggregators is one of the most important challenges facing the media industry. We develop a simple model to understand the impact of third-party content bundling by a social platform that has a monopoly on showing user-generated content to consumers. In our model, consumers can access news either directly through a newspaper's website or indirectly through a platform, which also offers social content. We show that content bundling, ...
-
作者：Gong, Shiyang; Li, Qian; Su, Song; Zhang, Juanjuan
作者单位：Beijing Normal University; Beijing Foreign Studies University; Massachusetts Institute of Technology (MIT)
摘要：This paper presents one of the first marketing applications of molecular genetics. We report evidence that salespeople's genetic variants linked to educational attainment predict sales performance. Both genetics and selling effort contribute to sales performance, whereas genetics contribute more than personality traits. We further show that adaptive learning, as captured in salespeople's customer orientation and opportunity recognition skills, may explain the gene-sales relationship. We discus...
-
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：Immorlica, Nicole; Lucier, Brendan; Manshadi, Vahideh; Wei, Alexander
作者单位：Microsoft; Microsoft; Yale University; University of California System; University of California Berkeley
摘要：We study the design of a decentralized two-sided matching market in which agents' search is guided by the platform. There are finitely many agent types, each with (potentially random) preferences drawn from known type-specific distributions. Equipped with knowledge of these distributions, the platform guides the search process by determining the meeting rate between each pair of types from the two sides. Focusing on symmetric pairwise preferences in a continuum model, we first characterize the...
-
作者：Sousa, Jose De; Hollard, Guillaume
作者单位：Universite Paris Saclay; Institut Polytechnique de Paris; Ecole Polytechnique; Centre National de la Recherche Scientifique (CNRS); Institut Polytechnique de Paris; Ecole Polytechnique
摘要：We document that women compete worse against men in field tournaments in over 150 countries and across all ages. Our field setting is the game of chess and we benefit from a large and rich data set to investigate the robustness and heterogeneity of our uncovered gender differences in competition. We find a macro gender gap in every country: there are fewer female than male players, especially at the top, and women have lower average rankings. Moreover, comparing millions of individual games, w...
-
作者：Nguyen, Tung; Petmezas, Dimitris; Karampatsas, Nikolaos
作者单位：University of Manchester; Alliance Manchester Business School; Durham University; University of Surrey
摘要：Using terrorist attacks as an exogenous shock to uncertainty, we provide evidence that firms located near terrorism-stricken areas are less likely takeover targets for two years after the attack and receive lower acquisition premiums. The latter finding is reflected in lower target firm abnormal returns and synergy gains. Additionally, in terrorism-stricken areas, target firms are associated with a lower share of synergies, withdrawn deals rise, and acquirers are more likely to get involved in...
-
作者：Perakis, Georgia; Sim, Melvyn; Tang, Qinshen; Xiong, Peng
作者单位：Massachusetts Institute of Technology (MIT); National University of Singapore; Nanyang Technological University
摘要：We introduce a new distributionally robust optimization model to address a two-period, multiitem joint pricing and production problem, which can be implemented in a data-driven setting using historical demand and side information pertinent to the prediction of demands. Starting from an additive demand model, we introduce a new partitioned-moment-based ambiguity set to characterize its residuals, which also determines how the second-period demand would evolve from the first-period information i...
-
作者：Kamble, Vijay; Shah, Nihar; Marn, David; Parekh, Abhay; Ramchandran, Kannan
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Carnegie Mellon University; University of California System; University of California Berkeley
摘要：A major challenge in obtaining evaluations of products or services on e-commerce platforms is eliciting informative responses in the absence of verifiability. This paper proposes the square root agreement rule (SRA): a simple reward mechanism that incentivizes truthful responses to objective evaluations on such platforms. In this mechanism, an agent gets a reward for an evaluation only if the answer matches that of a peer agent, where this reward is inversely proportional to a popularity index...
-
作者：Bichler, Martin; Milgrom, Paul; Schwarza, Gregor
作者单位：Technical University of Munich; Stanford University
摘要：Combinatorial auctions have found widespread application for allocating multiple items in the presence of complex bidder preferences. The enumerative exclusive OR (XOR) bid language is the de facto standard bid language for spectrum auctions and other applications, despite the difficulties, in larger auctions, of enumerating all the relevant packages or solving the resulting NP-hard winner determination problem. We introduce the flexible use and efficient licensing (FUEL) bid language, which w...
-
作者：Chinco, Alex
作者单位：City University of New York (CUNY) System; Baruch College (CUNY)
摘要：The limits of arbitrage explain how a speculative bubble is sustained; they do not explain how likely one is to occur. To do that, you need a theory about the thing that sporadically causes arbitrageur constraints to bind. I propose a first such theory, which is based on social interactions between speculators. The theory says that bubbles should be more likely in assets where increases in past returns make excited-speculators relatively more persuasive to their peers. I empirically verify thi...
