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作者：Liu, Xiaoyan; Schmidt, William
作者单位：Santa Clara University; Cornell University
摘要：Practitioners and academics alike have argued that a firm's interest in its short-term capital market valuation (short-termism) is harmful to the firm's long-term profit. Their argument is intuitive-when a firm exhibits short-termism, its decision making will cater to the short termat the expense of the long term. Some practitioners claim that the adverse effects of increased short-termism become particularly acute in competitive markets. However, there is little academic research that examine...
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作者：Lo, Desmond (Ho-Fu); Brahm, Francisco; Dessein, Wouter; Minami, Chieko
作者单位：Santa Clara University; University of London; London Business School; Columbia University; Kobe University
摘要：How does task expertise affect the allocation of attention? Our theory argues that when attention is scarce, expertise and attention are complements: A manager optimally focuses her attention on tasks in which she has relatively more expertise; she manages with style. In contrast, when attention is abundant, attention and expertise become substitutes: A manager shifts her attention toward tasks in which she has less expertise; she manages against her style. Using microlevel data on managers fr...
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作者：Gao, Fei; Souza, Gilvan C.
作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：In this paper, we model a firm that can reduce its carbon footprint in the presence of a segment of eco-conscious consumers, who consider the product's carbon footprint when making purchasing decisions. The firm can reduce its controllable emissions at increased fixed and variable costs. The firm can also buy carbon offsets, at the price set by a nongovernmental organization (NGO), for both its controllable and uncontrollable emissions in the supply chain. We find that the firm should not use ...
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作者：Li, Hui; Kim, Yijin; Srinivasan, Kannan
作者单位：Carnegie Mellon University; Carnegie Mellon University
摘要：This paper examines the impact of Airbnb on the local rental housing market. Airbnb provides landlords an alternative opportunity to rent to short-term tourists, potentially leading some landlords to switch from long-term rentals and thereby, affecting rental housing supply and affordability. Despite recent government regulations to address this concern, it remains unclear how many and what types of properties are switching. Combining Airbnb and American Housing Survey data, we estimate a stru...
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作者：Manshadi, Vahideh; Rodilitz, Scott
作者单位：Yale University; University of California System; University of California Los Angeles
摘要：Nonprofit crowdsourcing platforms such as food recovery organizations rely on volunteers to perform time-sensitive tasks. Thus, their success crucially depends on efficient volunteer utilization and engagement. To encourage volunteers to complete a task, platforms use nudging mechanisms to notify a subset of volunteers with the hope that at least one of them responds positively. However, because excessive notifications may reduce volunteer engagement, the platform faces a tradeoff between noti...
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作者：Carranza, Aldo; Goic, Marcel; Lara, Eduardo; Olivares, Marcelo; Weintraub, Gabriel Y.; Covarrubia, Julio; Escobedo, Cristian; Jara, Natalia; Basso, Leonardo J.
作者单位：Stanford University; Universidad de Chile; Universidad de Chile; Stanford University; Universidad de Chile; Universidad de Chile
摘要：Voluntary shelter-in-place directives and lockdowns are the main nonpharmaceutical interventions that governments around the globe have used to contain the Covid-19 pandemic. In this paper, we study the impact of such interventions in the capital of a developing country, Santiago, Chile, that exhibits large socioeconomic inequality. A distinctive feature of our study is that we use granular geolocated mobile phone data to construct mobility measures that capture (1) shelter-in-place behavior a...
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作者：Zhao, Yi; Yang, Sha; Shum, Matthew; Dutta, Shantanu
作者单位：University System of Georgia; Georgia State University; University of Southern California; California Institute of Technology
摘要：A key feature of online gaming, which serves as an important measure of consumer engagement with a game, is level progression, wherein players make play-or-quit decisions at each level of the game. Understanding users' level-progression behavior is, therefore, fundamental to game designers. In this paper, we propose a dynamic model of consumer level-progression decisions to shed light on the underlying motivational drivers. We cast the individual play-or-quit decisions in a dynamic framework w...
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作者：Han, Chulwoo
作者单位：Durham University
摘要：This paper documents the bimodality of momentum stocks: both high- and low-momentum stocks have nontrivial probabilities for both high and low returns. The bimodality makes the momentum strategy fundamentally risky and can cause a large loss. To alleviate the bimodality and improve return predictability, this paper develops a novel cross-sectional prediction model via machine learning. By reclassifying stocks based on their predicted financial performance, the model significantly outperforms o...
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作者：Gibbard, Peter
作者单位：University of Otago
摘要：This paper presents a model of choice with two stages of information acquisition. In this model, the choice problem can be interpreted as a variant of a more general multiarmed bandit problem. We assume that information acquisition takes a simple additive form-the value of an alternative is the sumof two components, which the decision maker can learn by undertaking two stages of information acquisition. This assumption yields a model that is tractable for the purposes of structural estimation....
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作者：Frydman, Cary; Krajbich, Ian
作者单位：University of Southern California; University System of Ohio; Ohio State University; University System of Ohio; Ohio State University
摘要：The standard assumption in social learning environments is that agents learn from others through choice outcomes. We argue that in many settings, agents can also infer information from others' response times (RT), which can increase efficiency. To investigate this, we conduct a standard information cascade experiment and find that RTs do contain information that is not revealed by choice outcomes alone. When RTs are observable, subjects extract this private information and are more likely to b...
