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作者：Babar, Yash; Adeli, Ali Mahdavi; Burtch, Gordon
作者单位：University of Wisconsin System; University of Wisconsin Madison; University of Memphis; Boston University
摘要：Recent shifts in societal discourse have led digital platforms to support equity, inclusivity, and diversity by introducing identity-signaling features, for example, indicators of owner race or gender. In this work, we explore whether, when, and how using those features may impact retailer demand. We tackle this question via a multimethod study. We begin by conducting a controlled experiment on Prolific.co, presenting subjects with actual Google Places business profiles for a set of Black-owne...
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作者：Augustin, Patrick; Rubtsov, Alexey; Shin, Donghwa
作者单位：McGill University; Toronto Metropolitan University; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：Cryptocurrencies provide a unique opportunity to identify how derivatives impact spot markets. They are fully fungible and trade across multiple spot exchanges at different prices, and futures contracts were selectively introduced on Bitcoin (BTC) exchange rates against the U.S. dollar (USD) in December 2017. Following the futures introduction, we find a significantly greater increase in cross-exchange price synchronicity for BTC-USD relative to other exchange rate pairs as demonstrated by an ...
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作者：Jin, Shuang; Wang, Wei; Zhang, Zilong
作者单位：Hong Kong University of Science & Technology; Queens University - Canada; Zhejiang University
摘要：We study the effects of implicit government guarantee (IGG) on Chinese stateowned enterprises (SOEs). We find that SOEs reduce their investments by 2.4% of book assets, on average, relative to matched non-SOEs after the first SOE default in China's onshore bond markets in 2015. The investment reduction concentrates among SOEs that are financially constrained, yet SOEs financed by large state banks are hardly affected. Bondholders require more stringent default protection in newly issued SOE bo...
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作者：Zhao, Yifan; Basu, Arnab; Lontzek, Thomas S.; Schmedders, Karl
作者单位：Ihsan Dogramaci Bilkent University; International Institute for Management Development (IMD)
摘要：We compute the social cost of carbon (SCC) when decision makers want robust estimates in the face of deep (or Knightian) uncertainty. We introduce the notion of full path accumulated robust preferences from stochastic control theory to an integrated assessment model. Robust preferences are appropriate for analyzing climate-related problems because, given the large uncertainty in climate science, they enable decision makers to attain solutions that are robust to a wide range of climate change s...
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作者：Si, Nian; Zhang, Fan; Zhou, Zhengyuan; Blanchet, Jose
作者单位：Stanford University; New York University
摘要：Policy learning using historical observational data are an important problem that has widespread applications. Examples include selecting offers, prices, or advertisements for consumers; choosing bids in contextual first-price auctions; and selecting medication based on patients' characteristics. However, existing literature rests on the crucial assumption that the future environment where the learned policy will be deployed is the same as the past environment that has generated the data: an a...
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作者：Johnson, Garrett A.; Shriver, Scott K.; Goldberg, Samuel G.
作者单位：Boston University; University of Colorado System; University of Colorado Boulder; Stanford University
摘要：We show that websites' vendor use falls after the European Union's (EU's) General Data Protection Regulation (GDPR), but that market concentration also increases among technology vendors that provide support services to websites. We collect panel data on the web technology vendors selected by more than 27,000 top websites internationally. The week after the GDPR's enforcement, website use of web technology vendors falls by 15% for EU residents. Websites are relatively more likely to retain top...
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作者：Pathak, Parag A.; Rees-Jones, Alex; Sonmez, Tayfun
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of Pennsylvania; Boston College
摘要：Affirmative action policies are often implemented through reserve systems. In this study, we demonstrate that reserve systems face widespread misunderstanding by the public. This misunderstanding can lead individuals to support policies that ineffectively pursue their interests. To establish these claims, we present 1,013 participants in the Understanding America Study with choices between pairs of reserve systems. Participants are members of the group receiving affirmative action and are fina...
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作者：Babenko, Ilona; Fedaseyeu, Viktar; Zhang, Song
作者单位：Arizona State University; Arizona State University-Tempe; China Europe International Business School; University of Delaware
摘要：We study the involvement of corporate executives in U.S. politics over the last 40 years. First, we document that the share of business politicians in federal elected office increased from 13.3% in 1980% to 22.6% in 2018, with most of the increase occurring over the last two decades. Second, we find that business politicians enjoy an early fundraising advantage over their opponents, both because they are more likely to self-fund their campaigns and because they receive more campaign contributi...
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作者：Balseiro, Santiago R.; Desir, Antoine
作者单位：Columbia University; INSEAD Business School
摘要：Online marketplaces, such as Amazon, Alibaba, Google Shopping, and JD.com, allow sellers to promote their products by charging them for the right to be displayed on top of organic search results. In this paper, we study the problem of designing auctions for sponsored products and highlight some new challenges emerging from the interplay of two unique features: substitution effects and information asymmetry. The presence of substitution effects, which we capture by assuming that consumers choos...
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作者：Aygun, Orhan; Turhan, Bertan
作者单位：Bogazici University; Iowa State University
摘要：We study the joint implementation of reservation and de-reservation policies in India that has been enforcing comprehensive affirmative action since 1950. The landmark judgment of the Supreme Court of India in 2008 mandated that whenever the OBC category (with 27% reservation) has unfilled positions, they must be reverted to general category applicants in admissions to public schools without specifying how to implement it. We disclose the drawbacks of the recently reformed allocation procedure...
