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作者：Shriver, Scott K.; Bollinger, Bryan
作者单位：University of Colorado System; University of Colorado Boulder; New York University
摘要：In this paper, we investigate the demand response of a firm's existing customers to retail store entry and which aspects of the response are demand-expanding and which cannibalize online sales. The empirical goal of the paper is to separately identify the effects of customer-to-store distance on purchase frequency, channel choice, and expenditure per purchase, using transaction-level data from a multichannel apparel brand. Our identification strategy exploits within-customer variation in dista...
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作者：Krieger, Joshua L.; Li, Xuelin; Thakor, Richard T.
作者单位：Harvard University; University of South Carolina System; University of South Carolina Columbia; University of Minnesota System; University of Minnesota Twin Cities; Massachusetts Institute of Technology (MIT)
摘要：How do innovative firms react when existing products experience negative shocks? We explore this question with detailed project-level data from drug development firms. Using the Food and Drug Administration public health advisories as idiosyncratic negative shocks to approved drugs, we examine how drug makers react through investment decisions. Following these shocks, affected firms increase research and development (R&D) expenditures, driven by a higher likelihood of acquiring external innova...
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作者：Tian, Xu
作者单位：University System of Georgia; University of Georgia
摘要：Shadow banks play an important role in the modern financial system and are arguably the source of key vulnerabilities that led to the 2007-2009 financial crisis. I develop a quantitative framework with uncertainty fluctuations and endogenous bank default to study the dynamics of shadow banking. I argue that the increase in asset return uncertainty during the crisis results in a spread spike, making it more costly for shadow banks to roll over their debt in the short-term debt market. As a resu...
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作者：Xu, Zibin; Dukes, Anthony
作者单位：City University of Hong Kong; University of Southern California
摘要：When consumers' inferences of their reservation values are subject to environmental noise, firms can use customer data aggregation to obtain superior knowledge. This facilitates personalized pricing but may also induce consumer suspicions of overpaying. To alleviate the suspicions and convince consumers of their value, the firm may design its personalization scheme to include a list price in addition to the personalized prices. We find that only a separating equilibrium with list pricing survi...
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作者：Qin, Hanzhang; Simchi-Levi, David; Wang, Li
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：We study the classic multiperiod joint pricing and inventory control problem in a data-driven setting. In this problem, a retailermakes periodic decisions on the prices and inventory levels of a product that she wishes to sell. The retailer's objective is to maximize the expected profit over a finite horizon bymatching the inventory level with a randomdemand, which depends on the price in each period. In reality, the demand functions or random noise distributions are usually difficult to know ...
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作者：Favaron, Saverio Dave; Di Stefano, Giada; Durand, Rodolphe
作者单位：SKEMA Business School; Universite Cote d'Azur; Bocconi University; Hautes Etudes Commerciales (HEC) Paris
摘要：What happens in the aftermath of the introduction of a new status ranking? In this study, we exploit the unique empirical opportunity generated by the release of the first edition of the Michelin Guide for Washington, DC, in the fall of 2016. We build on prior work on rankings as insecurity-inducing devices by suggesting that newly awarded high-status actors modify their self-presentation attributes to fit with what they believe audiences expect from the elite. Our results show that, depending...
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作者：Jiang, Zhenling
作者单位：University of Pennsylvania
摘要：This paper studies price bargaining when both parties have left-digit bias when processing numbers. The empirical analysis focuses on the auto finance market in the United States, using a large data set of 35 million auto loans. Incorporating left-digit bias in bargaining is motivated by several intriguing observations. The scheduled monthly payments of auto loans bunch at both $9- and $0-ending digits, especially over $100 marks. In addition, $9-ending loans carry a higher interest rate, and ...
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作者：Kiessling, Lukas; Radbruch, Jonas; Schaube, Sebastian
作者单位：Max Planck Society; IZA Institute Labor Economics
摘要：This paper studies how the presence of peers and different peer assignment rules-self-selection versus random assignment-affect individual performance. Using a framed field experiment, we find that the presence of a randomly assigned peer improves performance by 28% of a standard deviation (SD), whereas self-selecting peers induces an additional 15%-18% SD improvement in performance. Our results document peer effects in multiple characteristics and show that self-selection changes these charac...
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作者：Jiang, Zhaohui (Zoey); Huang, Yan; Beil, Damian R.
作者单位：Carnegie Mellon University; University of Michigan System; University of Michigan
摘要：In this paper, we empirically examine the impact of performance feedback on the outcome of crowdsourcing contests. We develop a dynamic structural model to capture the economic processes that drive contest participants' behavior and estimate the model using a detailed data set about real online logo design contests. Our rich model captures key features of the crowdsourcing context, including a large participant pool; entries by new participants throughout the contest; exploitation (revision of...
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作者：Chakraborti, Rajdeep; Dahiya, Sandeep; Ge, Lei; Gete, Pedro
作者单位：IE University; Georgetown University; Renmin University of China
摘要：We show that executive ownership is a significant driver of the demand for credit following credit expansion policies. Our focus on credit demand is in contrast to most studies that have focused on credit supply factors such as bank capital. Our identification exploits the large and unexpected Chinese credit expansion in 2008. This setting offers a unique advantage as in 2008 the Chinese government had almost complete control over the banking sector and it directed the banks to increase credit...
