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作者：Zhou, Ying
作者单位：University of Connecticut
摘要：The mandated increase in segment disaggregation under SFAS 131 could have harmed shareholders by revealing proprietary information or benefited them by reducing agency problems. Using a sample of firms that lobbied against SFAS 131 on the grounds of competitive harm, I examine whether concerns about proprietary costs, a much-cited reason for nondisclosure, motivate firms to lobby against reporting mandates to protect firms??? competitive position or are used as an excuse to disguise managers??...
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作者：Singal, Raghav; Besbes, Omar; Desir, Antoine; Goyal, Vineet; Iyengar, Garud
作者单位：Dartmouth College; Columbia University; INSEAD Business School; Columbia University
摘要：One of the central challenges in online advertising is attribution, namely, assessing the contribution of individual advertiser actions such as emails, display ads, and search ads to eventual conversion. Several heuristics are used for attribution in practice; however, most do not have any formal justification. The main contribution in this work is to propose an axiomatic framework for attribution in online advertising. We show that the most common heuristics can be cast under the framework an...
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作者：Callander, Steven; Matouschek, Niko
作者单位：Stanford University; Northwestern University
摘要：We develop a model to capture the novelty of innovation and explore what it means for the nature of market competition and quality of innovations. An innovator decides not only whether to innovate but how boldly to innovate, where the more novel is the innovation-the more different it is from what has come before-the more uncertain is the outcome. We show in this environment that a variant of the Arrow replacement effect holds in that new entrants pursue more innovative technologies than do in...
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作者：Berbeglia, Gerardo; Garassino, Agustin; Vulcano, Gustavo
作者单位：University of Melbourne; University of Buenos Aires; Universidad Torcuato Di Tella; Consejo Nacional de Investigaciones Cientificas y Tecnicas (CONICET)
摘要：Choice-based demand estimation is a fundamental task in retail operations and revenue management, providing necessary input data for inventory control, assortment, and price-optimization models. The task is particularly difficult in operational contexts where product availability varies over time and customers may substitute into the available options. In addition to the classical multinomial logit (MNL) model and extensions (e.g., nested logit, mixed logit, and latent-class MNL), new demand m...
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作者：Gao, George P.; Ma, Qingzhong; Ng, David T.; Wu, Ying
作者单位：California State University System; California State University Chico; Cornell University; Stevens Institute of Technology
摘要：This paper examines the information content of insider silence, periods of no insider trading. We hypothesize that, to avoid litigation risk, rational insiders do not sell own-company shares when they anticipate bad news; neither would they buy, given unfavorable prospects. Thus, they keep silent. By contrast, insiders sell shares when they do not anticipate significant bad news. Future stock returns are significantly lower following insider silence than following insider net selling, especial...
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作者：Liu, Hening; Zhang, Yuzhao
作者单位：University of Manchester; Alliance Manchester Business School; Rutgers University System; Rutgers University Newark; Rutgers University New Brunswick
摘要：We examine a production-based asset pricing model with regime-switching productivity growth, learning, and ambiguity. Both the mean and volatility of the growth rate of productivity are assumed to follow a Markov chain with an unobservable state. The agent's preferences are characterized by the generalized recursive smooth ambiguity utility function. Our calibrated benchmark model with modest risk aversion can match moments of the variance risk premium in the data and reconcile empirical relat...
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作者：Esenduran, Gokce; Letiza, Paolo; Ovchinnikov, Anton
作者单位：Purdue University System; Purdue University; University of Tennessee System; University of Tennessee Knoxville; Queens University - Canada; INSEAD Business School
摘要：Recent advances in information technology, advanced manufacturing (robotics, 3D printing, etc.), and logistics have allowed firms to customize their products to the specifications of individual consumers, who, in turn, prefer these products to standard ones. In the unlikely event that customized products do not match expectations, however, consumers often feel entitled to a return. Should firms offer returns on customized products? We examine this question via a Stackelberg game model, in whic...
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作者：Conitzer, Vincent; Kroer, Christian; Panigrahi, Debmalya; Schrijvers, Okke; Stier-Moses, Nicolas E.; Sodomka, Eric; Wilkens, Christopher A.
作者单位：Duke University; Columbia University
摘要：Mature internet advertising platforms offer high-level campaign management tools to help advertisers run their campaigns, often abstracting away the intricacies of how each ad is placed and focusing on aggregate metrics of interest to advertisers. On such platforms, advertisers often participate in auctions through a proxy bidder, so the standard incentive analyses that are common in the literature do not apply directly. In this paper, we take the perspective of a budget management system that...
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作者：Ando, Tomohiro; Greenwood-Nimmo, Matthew; Shin, Yongcheol
作者单位：University of Melbourne; University of Melbourne; Australian National University; University of York - UK
摘要：We develop a new technique to estimate vector autoregressions with a common factor error structure by quantile regression. We apply our technique to study credit risk spillovers among a group of 17 sovereigns and their respective financial sectors between January 2006 and December 2017. We show that idiosyncratic credit risk shocks propagate much more strongly in both tails than at the conditional mean or median. Furthermore, we develop a measure of the relative spillover intensity in the righ...
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作者：Ganju, Kartik K.; Atasoy, Hilal; Pavlou, Paul A.
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Rutgers University System; Rutgers University Newark; Rutgers University New Brunswick; University of Houston System; University of Houston
摘要：Electronic health record (EHR) systems allow physicians to automate the process of entering patient data relative to manual entry in traditional paper-based records. However, such automated data entry can lead to increased reimbursement requests by hospitals from Medicare by overstating the complexity of patients. The EHR module that has been alleged to increase reimbursements is the Computerized Physician Order Entry (CPOE) system, which populates patient charts with default templates and all...
