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作者：Saghafian, Soroush; Song, Lina; Newhouse, Joseph; Landrum, Mary Beth; Hsu, John
作者单位：Harvard University; University of London; University College London; Harvard University; Harvard Medical School; Harvard University; Harvard T.H. Chan School of Public Health; National Bureau of Economic Research; Harvard University; Harvard University Medical Affiliates; Massachusetts General Hospital
摘要：The U.S. healthcare system is undergoing a period of substantial change with hospitals purchasing many physician practices (vertical integration). In theory, this vertical integration could improve quality by promoting care coordination but could also worsen it by impacting the care delivery patterns. The evidence quantifying these effects is limited because of the lack of understanding of how physicians' behaviors alter in response to the changes in financial ownership and incentive structure...
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作者：Desai, Hemang; Lam, Pauline; Li, Bin; Rajgopal, Shiva
作者单位：Southern Methodist University; New York University; University of Houston System; University of Houston; Columbia University
摘要：We study carbon-reduction pledges of publicly traded U.S. oil exploration and production (E&P) companies. Of the 69 firms in the sample, 18 have committed to net-zero carbon targets, 14 have announced significant emissions cuts, whereas the remaining 37 firms have not announced any formal commitment to reduce emissions. We find that a firm's energy production and ownership by BlackRock is positively associated with its decision to announce a net-zero pledge or significant emission cuts. E&P fi...
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作者：Choi, Syngjoo; Goyal, Sanjeev; Moisan, Frederic; To, Yu Yang Tony
作者单位：Seoul National University (SNU); University of Cambridge; New York University; New York University Abu Dhabi; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS); Ecole Normale Superieure de Lyon (ENS de LYON); Universite Claude Bernard Lyon 1; Universite Jean Monnet; Universite Lyon 2; emlyon business school
摘要：Subjects observe a private signal and make an initial guess; they then observe their neighbors' guesses, update their own guess, and so forth. We study learning dynamics in three large-scale networks capturing features of real-world social networks: Erdo center dot s-Re ' nyi, Stochastic Block (reflecting network homophily), and Royal Family (that accommodates both highly connected celebrities and local interactions). We find that the Royal Family network is more likely to sustain incorrect co...
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作者：Chava, Sudheer; Oettl, Alexander; Singh, Manpreet
作者单位：University System of Georgia; Georgia Institute of Technology; National Bureau of Economic Research
摘要：Using intertemporal variation in the bounding of a state's minimum wage by the federal rate and business credit-score data for 15.2 million establishments, we find that the increase in labor costs caused by a higher federal minimum wage leads to lower business credit scores and worsens the financial health of small businesses in the affected states. In particular, small, young, labor-intensive, and minimum-wage-sensitive establishments located in affected states and those located in competitiv...
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作者：Fang, Lily; Lerner, Josh; Wu, Chaopeng; Zhang, Qi
作者单位：INSEAD Business School; Harvard University; Harvard University; Xiamen University; Shandong University
摘要：We leverage an exogenous shock-the crackdown on corrupt Chinese officials beginning in 2012-and examine how the allocation of research subsidies and innovative outcomes were affected. We argue that the staggered removal of provincial heads on corruption charges during China's anticorruption campaign and the unanticipated departures of local government officials responsible for innovation programs led to plausibly exogenous reductions in corruption. After both events, the allocation of subsidie...
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作者：Shin, Jiwoong; Shin, Woochoel
作者单位：Yale University; State University System of Florida; University of Florida
摘要：Ad targeting technology has enabled a highly personalized delivery of online ads. Behind this development is the belief that better targeting will lead to more relevant ads. This paper challenges this lay belief by showing that irrelevant advertising can arise not necessarily from technological imperfection but also from the incentive problem embedded in the ad agency-advertisers relationship. We first demonstrate that the ad agency serving multiple advertisers may strategically allocate an ad...
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作者：Niazadeh, Rad; Golrezaei, Negin; Wang, Joshua; Susan, Fransisca; Badanidiyuru, Ashwinkumar
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Motivated by online decision making in time-varying combinatorial environments, we study the problemof transforming offline algorithms to their online counterparts. We focus on offline combinatorial problems that are amenable to a constant factor approximation using a greedy algorithm that is robust to local errors. For such problems, we provide a general framework that efficiently transforms offline robust greedy algorithms to online ones using Blackwell approachability. We show that the resu...
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作者：Heinle, Mirko; Samuels, Delphine; Taylor, Daniel
作者单位：University of Pennsylvania; University of Chicago
摘要：This study develops and tests a simple model of voluntary disclosure in which managers can choose to withhold (i.e., redact) certain elements from mandatory disclosure. We consider a setting in which mandatory disclosure is a disaggregated disclosure (e.g., a financial statement), voluntary disclosure is an aggregate disclosure (e.g., an earnings forecast), and the costs of each type of disclosure are distinct. In this setting, we showthatmanagers endogenously substitute between the two types ...
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作者：Li, Xi; Li, Xinlong
作者单位：University of Hong Kong; Nanyang Technological University
摘要：Modern consumers are concerned about not only their material payoff, but also the fairness of the transaction when making purchasing decisions. In this paper, we investigate how consumers' inequity aversion affects a manufacturer who sources inputs from upstreamsuppliers. We find that, when the manufacturer sources from a single supplier or when consumers observe the manufacturer's cost, inequity aversion hurts both the supplier's and manufacturer's profits. However, when the manufacturer sour...
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作者：Liu, Yue; Luo, Rong
作者单位：Central University of Finance & Economics; Renmin University of China
摘要：Although the literature on network effects has focused on single-network firms, many industries feature multinetwork firms that play more complex dynamic pricing games. In this paper, we estimate the network effect at the smartphone operating system (OS) level and study multi-OS telecommunication carriers' dynamic pricing strategies in an oligopolistic setting, using data on the U.S. smartphone industry. We find a positive OS network effect. Counterfactual analysis indicates that if the carrie...
