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作者：Degryse, Hans; Van Achter, Mark; Wuyts, Gunther
作者单位：KU Leuven; Centre for Economic Policy Research - UK
摘要：We analyze how market design choices about counterparty information and costs related to the plumbing (i.e., clearing, settlement, and custody) of securities markets affect market quality and welfare. Our model compares two post-trade fee structures for allocating these costs. One charges a uniform fee for all trades and the other, marginal cost-based structure a reduced fee for internalized trades (which, both traders being from the same broker, is less costly to process). Both market design ...
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作者：Dierks, Ludwig; Seuken, Sven
作者单位：University of Zurich
摘要：Cloud computing providers must constantly hold many idle compute instances available (e.g., for maintenance or for users with long-term contracts). A natural idea, which should intuitively increase the provider's profit, is to sell these idle instances on a secondary market, for example, via a preemptible spot market. However, this ignores possible market cannibalization effects that may occur in equilibrium as well as the additional costs the provider experiences due to preemptions. To study ...
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作者：Kucukgul, Can; Ozer, Ozalp; Wang, Shouqiang
作者单位：University of Texas System; University of Texas Dallas
摘要：Many online platforms offer time-locked sales campaigns, whereby products are sold at fixed prices for prespecified lengths of time. Platforms often display some information about previous customers' purchase decisions during campaigns. Using a dynamic Bayesian persuasion framework, we study how a revenue-maximizing platform should optimize its information policy for such a setting. We reformulate the platform's problem equivalently by reducing the dimensionality of its message space and propr...
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作者：Gao, Pin; Fan, Xiaoshuai; Huang, Yangguang; Chen, Ying-Ju
作者单位：The Chinese University of Hong Kong, Shenzhen; Southern University of Science & Technology; Hong Kong University of Science & Technology; Hong Kong University of Science & Technology
摘要：Many innovative products are designed to satisfy the demand of specific target consumers; thus, the innovators will inevitably compete with each other in the product market. We investigate how a profit-maximizing principal should properly allocate her limited resources to support the innovations of multiple potentially competing innovators. We find that, as the available resources increase, the optimal diversification of investment may first increase and then decrease. This interesting nonmono...
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作者：Huang, Peng; Lyu, Gaoyan; Xu, Yi
作者单位：University System of Maryland; University of Maryland College Park; Beijing Institute of Technology
摘要：Managing the quality of complementary applications is vital to the success of a two-sided platform. While prior research has focused solely on restricting platform access based on a quality threshold, we compare three quality regulation strategies: (1) the platform excludes access to low-quality complementors, (2) it provides a fixed amount of subsidy to high-quality complementors, and (3) it develops its own high-quality applications in addition to those from third-party complementors. Our an...
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作者：Li, Linyi; Gopinath, Shyam; Carson, Stephen J.
作者单位：Singapore Management University; Indiana University System; IU Kelley School of Business; Indiana University Bloomington; Utah System of Higher Education; University of Utah
摘要：We examine how online customer reviews for one generation of a product affect sales of another generation in the same product series. The main intriguing result is that previous generation valence has a positive impact on current generation sales; however, current generation valence has a negative impact on previous generation sales. The positive impact of previous generation valence becomes even stronger (1) as the uncertainty (standard deviation) in reviews for the current generation increas...
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作者：Qi, Meng; Cao, Ying; Shen, Zuo-Jun (Max)
作者单位：University of California System; University of California Berkeley; University of California System; University of California Berkeley; University of Hong Kong; University of Hong Kong
摘要：Conditional quantile prediction involves estimating/predicting the quantile of a response random variable conditioned on observed covariates. The existing literature assumes the availability of independent and identically distributed (i.i.d.) samples of both the covariates and the response variable. However, such an assumption often becomes restrictive in many real-world applications. By contrast, we consider a fixed-design setting of the covariates, under which neither the response variable n...
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作者：Arya, Anil; Mittendorf, Brian; Ramanan, Ram N., V
作者单位：University System of Ohio; Ohio State University; State University of New York (SUNY) System; Binghamton University, SUNY
摘要：Although corporate insiders face substantial restrictions on stock sales, securing tax deductions through charitable donations of stock is viewed as an attractive alternative. Recent press coverage and growing empirical evidence confirm that insider donations occur frequently and often precede stock price drops. Securities regulators have also taken note, with a recent push for new rules to require rapid disclosure as with insider trades. This paper develops a model of informed stock trading w...
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作者：Martin, Daniel; Marx, Philip
作者单位：Northwestern University; Louisiana State University System; Louisiana State University
摘要：A large experimental literature is devoted to studying discrimination. An important question for policymakers and firms is what drives the discrimination uncovered by those experiments. However, motivations are hard to determine when decision makers pay selective attention to information because their learning is private. We overcome this challenge by deriving conditions on average outcomes that reveal decision makers are prejudiced no matter what they learn about individuals in each demograph...
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作者：He, Lisheng; Analytis, Pantelis P.; Bhatia, Sudeep
作者单位：Shanghai University; Shanghai International Studies University; University of Southern Denmark; University of Pennsylvania
摘要：A wide body of empirical research has revealed the descriptive shortcomings of expected value and expected utility models of risky decision making. In response, numerous models have been advanced to predict and explain people???s choices between gambles. Although some of these models have had a great impact in the behavioral, social, and management sciences, there is little consensus about which model offers the best account of choice behavior. In this paper, we conduct a large-scale compariso...
