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作者：Amaldoss, Wilfred; Harutyunyan, Mushegh
作者单位：Duke University; Imperial College London
摘要：Research in psychology shows that consumption goals can help consumers avoid excessive consumption of vice goods and the associated long-term harm. In this paper, we propose a model of self-control with consumption goals and examine how goals moderate the behavior of consumers and the firm's strategy. We find that consumers' personal goals lead to a lower price for a less unhealthy product but a higher price for a more unhealthy product. Furthermore, even though personal goals reduce the sales...
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作者：Iyengar, Garud; Saleh, Fahad; Sethuraman, Jay; Wang, Wenjun
作者单位：Columbia University; Wake Forest University
摘要：We construct an economic framework for understanding the incentives of the participants of a permissioned blockchain for supply chains and other related industries. Our study aims to determine whether adoption of blockchain is socially beneficial and whether such adoption arises in equilibrium. We find that blockchain reduces information asymmetry for consumers, thereby enhancing consumer welfare. Consumer welfare gains can be suffi-ciently large that blockchain adoption is socially beneficial...
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作者：Ye, Zikun; Zhang, Dennis J.; Zhang, Heng; Zhang, Renyu; Chen, Xin; Xu, Zhiwei
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Washington University (WUSTL); Arizona State University; Arizona State University-Tempe; Chinese University of Hong Kong; University System of Georgia; Georgia Institute of Technology
摘要：Cold start describes a commonly recognized challenge for online advertising platforms: with limited data, the machine learning system cannot accurately estimate the click-through rates (CTR) of new ads and, in turn, cannot efficiently price these new ads or match them with platform users. Traditional cold start algorithms often focus on improving the learning rates of CTR for new ads to improve short-term revenue, but unsuccessful cold start can prompt advertisers to leave the platform, decrea...
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作者：Chen, Ye; Ryzhov, Ilya O.
作者单位：Virginia Commonwealth University; University System of Maryland; University of Maryland College Park
摘要：In the ranking and selection problem, a sampling budget is allocated among a finite number of designs with the goal of efficiently identifying the best. Allocations of this budget may be static (with no dependence on the random values of the samples) or adaptive (decisions are made based on the results of previous decisions). A popular methodological strategy in the simulation literature is to first characterize optimal static allocations by using large deviations theory to derive a set of opt...
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作者：Huang, Jiekun
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：Institutional investors' proxy voting decisions are influenced by their neighbors. I identify peer effects in proxy voting using close-call votes on shareholder-sponsored governance proposals at publicly traded financial institutions (focal institutions). I first show that the passage of a governance proposal at a focal institution makes the institution more likely to vote against management at its portfolio firms. Using a triple-difference approach, I find that the neighboring institutions of...
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作者：Werner, Ingrid M.; Rindi, Barbara; Buti, Sabrina; Wen, Yuanji
作者单位：University System of Ohio; Ohio State University; Bocconi University; Bocconi University; Universite PSL; Universite Paris-Dauphine; Centre National de la Recherche Scientifique (CNRS); University of Western Australia
摘要：We investigate the effects of a tick-size reduction on market quality in a multi-period limit order book market. For illiquid stocks, reducing the tick size facilitates under-cutting and discourages liquidity provision, resulting in deteriorating market quality but higher volume. For liquid stocks, reducing the tick size curtails queues, resulting in lower depth and volume but narrower spread. With a competing crossing network, a tick-size reduction results in worse market quality for all stoc...
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作者：Hu, Sang; Obloj, Jan; Zhou, Xun Yu
作者单位：The Chinese University of Hong Kong, Shenzhen; University of Oxford; University of Oxford; Columbia University
摘要：We develop an approach to solve the Barberis casino gambling model [Barberis N (2012) A model of casino gambling. Management Sci. 58(1):35-51] in which a gambler whose preferences are specified by the cumulative prospect theory (CPT) must decide when to stop gambling by a prescribed deadline. We assume that the gambler can assist their decision using independent randomization. The problem is inherently time inconsistent because of the probability weighting in CPT, and we study both precommitte...
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作者：Dai, Min; Kou, Steven; Soner, H. Mete; Yang, Chen
作者单位：Hong Kong Polytechnic University; Boston University; Princeton University; Chinese University of Hong Kong
摘要：Although leveraged exchange-traded funds (ETFs) are popular products for retail investors, how to hedge them poses a great challenge to financial institutions. We develop an optimal rebalancing (hedging) model for leveraged ETFs in a comprehensive setting, including overnight market closure and market frictions. The model allows for an analytical optimal rebalancing strategy. The result extends the principle of aiming in front of target introduced by Garleanu and Pedersen (2013) from a constan...
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作者：Rathee, Shelly; Narula, Kritika; Mishra, Arul; Mishra, Himanshu
作者单位：Villanova University; Analysis Group Inc.; Utah System of Higher Education; University of Utah
摘要：Long wait times for patients are an important health policy issue in many countries, especially developing countries in which there is generally poorer health infrastructure, appointments are not very common, and the opportunity cost of competing life priorities is high. In this research, we examine via field experiments in health clinics in India whether providing numeric versus alphanumeric wait tokens can affect pain perceptions of patients and whether the type of tokens can also affect the...
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作者：Kamalahmadi, Masoud; Bretthauer, Kurt M.; Helm, Jonathan E.; Mills, Alex F.; Coe, Edwin C.; Judy-Malcolm, Alisa; Kara, Areeba; Pan, Julian
作者单位：University of Miami; Indiana University System; IU Kelley School of Business; Indiana University Bloomington; City University of New York (CUNY) System; Baruch College (CUNY); Indiana University System; Indiana University Bloomington
摘要：Hospitalists are medical doctors that specialize in the care of hospitalized patients, a role that until recently belonged to primary care physicians. We develop an operational model of hospitalist-patient interactions with rounding and responding service modes, optimizing hospitalist caseload and case-mix to achieve the maximal reduction in patient length of stay (LOS). We show that hospitalists are effective at reducing LOS for patients with complex conditions, corroborating intuitive reason...
