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作者：Balseiro, Santiago; Kroer, Christian; Kumar, Rachitesh
作者单位：Columbia University
摘要：The internet advertising market is a multibillion dollar industry in which advertisers buy thousands of ad placements every day by repeatedly participating in auctions. An important and ubiquitous feature of these auctions is the presence of campaign budgets, which specify the maximum amount the advertisers are willing to pay over a specified time period. In this paper, we present a new model to study the equilibrium bidding strategies in standard auctions, a large class of auctions that inclu...
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作者：Camara, Odilon; Jia, Nan; Raffiee, Joseph
作者单位：University of Southern California; University of Southern California
摘要：We examine strategic communication in labor market recommendations. Our formal model features two-sided asymmetric information: An adviser has private information about his own preference bias for a focal candidate and a signal of the quality of this candidate, whereas the hiring firm has private information about the quality of an alternative candidate. The adviser can choose whether to recommend his focal candidate to the firm. If he recommends and the firm hires the candidate, then the advi...
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作者：Castilla, Emilio J.; Rho, Hye Jin
作者单位：Massachusetts Institute of Technology (MIT); Michigan State University
摘要：Gender segregation remains a significant problem in many occupations and organizations. To solve this problem, many U.S. employers now seek to craft gender-neutral job postings. In this article, we investigate whether such employer recruitment efforts are successful in encouraging women and men to apply equally for jobs. Specifically, we move beyond the well-studied effects of the gender typing of occupations, organizations, and industries to study the extent to which the recruiting language u...
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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...
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作者：Benhaim, Alon; Falk, Brett H.; Tsoukalas, Gerry
作者单位：University of Pennsylvania; University of Pennsylvania; Boston University; International Institute for Management Development (IMD)
摘要：In the high-stakes race for scalability, some blockchains have turned to committee-based consensus (CBC), whereby the chain's recordkeeping rights are entrusted to a committee of block producers elected via approval voting. Smaller committees boost speed and scalability but can compromise security when voters have limited information. In this environment, voting strategies are naturally nonlinear, and equilibria can become intractable. Despite this, we show that elections converge to optimalit...
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作者：Kolasinski, Adam; Li, Xu; Soliman, Mark; Xin, Qian
作者单位：Texas A&M University System; Texas A&M University College Station; Mays Business School; University of Hong Kong; University of Southern California; Harbin Institute of Technology
摘要：The prior literature on analyst forecasts has focused almost exclusively on firms that just meet or beat the mean or median consensus analyst forecast, without much regard to alternative benchmarks within the forecast distribution. Anecdotal evidence suggests that there is institutional significance to the lowest (minimum) and highest (maximum) analyst earnings forecast. We rigorously explore whether these two new benchmarks actually have incremental significance and, if so, whether there are ...
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作者：Biais, Bruno; Capponi, Agostino; Cong, Lin William; Gaur, Vishal; Giesecke, Kay
作者单位：Hautes Etudes Commerciales (HEC) Paris; Columbia University; Cornell University; National Bureau of Economic Research; Stanford University
摘要：Over the past decade, blockchains and cryptocurrencies have taken a central stage in financial technology (FinTech) innovation. In 2020-2021, as the academic finance and management community began actively investigating this domain, we issued a call for papers for a special issue to encourage interdisciplinary research in this emerging area. This section of Management Science presents the first systematic collection of knowledge, both theoretical and empirical, focusing on blockchain economics...
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作者：Manshadi, Vahideh; Niazadeh, Rad; Rodilitz, Scott
作者单位：Yale University; University of Chicago; University of California System; University of California Los Angeles
摘要：We study the allocative challenges that governmental and nonprofit organizations face when tasked with equitable and efficient rationing of a social good among agents whose needs (demands) realize sequentially and are possibly correlated. As one example, early in the COVID-19 pandemic, the Federal Emergency Management Agency faced overwhelming, temporally scattered, a priori uncertain, and correlated demands for medical supplies from different states. In such contexts, social planners aim to m...
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作者：Gan, Jingxing (Rowena); Tsoukalas, Gerry; Netessine, Serguei
作者单位：Southern Methodist University; Boston University; International Institute for Management Development (IMD); University of Pennsylvania
摘要：Traditional two-sided platforms (e.g., Amazon, Uber) rely primarily on commission contracts to generate revenues and fuel growth, whereas their decentralized counterparts (e.g., Uniswap, Filecoin) often forego these in favor of token retention. What economics underpin this choice? We show that with properly designed initial coin offerings (ICOs), both mechanisms can independently alleviate market failures at the initial fundraising stage and incentivize long-term platform building. However, th...
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作者：Morozov, Ilya
作者单位：Northwestern University
摘要：I study how much consumers benefit from new products in markets with information frictions. I analyze new products in the U.S. hard drive market, which is characterized by ample product innovation. Using unique click-stream data, I measure the magnitude of two frictions, category consideration and costly search, and show that both play a crucial role in shaping consumer demand. To estimate consumer surplus from new products, I develop a search model that captures both frictions and propose a n...
