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作者：Soll, Jack B.; Palley, Asa B.; Rader, Christina A.
作者单位：Duke University; Indiana University System; Indiana University Bloomington; IU Kelley School of Business; Colorado College
摘要：Much research on advice taking examines how people revise point estimates given input from others. This work has established that people often egocentrically discount advice. If they were to place more weight on advice, their point estimates would be more accurate. Yet the focus on point estimates and accuracy has resulted in a narrow conception of what it means to heed advice. We distinguish between revisions of point estimates and revisions of attendant probability distributions. Point estim...
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作者：El Hajj, Hussein; Bish, Douglas R.; Bish, Ebru K.; Kay, Denise M.
作者单位：University of Waterloo; University of Alabama System; University of Alabama Tuscaloosa; Wadsworth Center
摘要：Newborn screening (NBS) is a state-level initiative that detects life-threatening genetic disorders for which early treatment can substantially improve health outcomes. Cystic fibrosis (CF) is among the most prevalent disorders in NBS. CF can be caused by a large number of mutation variants to the CFTR gene. Most states use a multitest CF screening process that includes a genetic test (DNA). However, due to cost concerns, DNA is used only on a small subset of newborns (based on a low-cost biom...
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作者：Chod, Jiri; Trichakis, Nikolaos; Yang, S. Alex
作者单位：Boston College; Massachusetts Institute of Technology (MIT); University of London; London Business School
摘要：This paper highlights two channels through which blockchain-enabled tokenization can alleviate moral hazard frictions between founders, investors, and users of a platform: token financing and decentralized governance. We consider an entrepreneur who uses outside financing and exerts private effort to build a platform and users who decide whether to join in response to the platform's dynamic transaction fee policy. We first show that raising capital by issuing tokens rather than equity mitigate...
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作者：Bastani, Hamsa; Simchi-Levi, David; Zhu, Ruihao
作者单位：University of Pennsylvania; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Purdue University System; Purdue University
摘要：We study the problem of learning shared structure across a sequence of dynamic pricing experiments for related products. We consider a practical formulation in which the unknown demand parameters for each product come from an unknown distribution (prior) that is shared across products. We then propose a meta dynamic pricing algorithm that learns this prior online while solving a sequence of Thompson sampling pricing experiments (each with horizon T) for N different products. Our algorithm addr...
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作者：Benjaafar, Saif; Jiang, Daniel; Li, Xiang; Li, Xiaobo
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Amazon.com; National University of Singapore
摘要：We consider a rental service with a fixed number of rental units distributed across multiple locations. The units are accessed by customers without prior reservation and on an on-demand basis. Customers can decide on how long to keep a unit and where to return it. Because of the randomness in demand and in returns, there is a need to periodically reposition inventory away from some locations and into others. In deciding on how much inventory to reposition and where, the system manager balances...
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作者：Li, Xiaobo; Sun, Hailong; Teo, Chung Piaw
作者单位：National University of Singapore; National University of Singapore; National University of Singapore
摘要：We study the bundle size pricing (BSP) problem in which a monopolist sells bundles of products to customers and the price of each bundle depends only on the size (number of items) of the bundle. Although this pricing mechanism is attractive in practice, finding optimal bundle prices is difficult because it involves characterizing distributions of the maximum partial sums of order statistics. In this paper, we propose to solve the BSP problem under a discrete choice model using only the first a...
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作者：Petracou, Electra V.; Xepapadeas, Anastasios; Yannacopoulos, Athanasios N.
作者单位：University of Aegean; Athens University of Economics & Business; University of Bologna; Athens University of Economics & Business; Athens University of Economics & Business
摘要：This paper contributes to the literature on decision making under multiple probability models by studying a class of variational preferences. These preferences are defined in terms of Frechet mean utility functionals, which are based on the Wasserstein metric in the space of probabilitymodels. In order to produce ameasure that is the closest to all probability models in the given set, we find the barycenter of the set. We derive explicit expressions for the Frechet-Wasserstein mean utility fun...
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作者：Reme, Bjorn-Atle; Rohr, Helene Lie; Saethre, Morten
作者单位：Norwegian Institute of Public Health (NIPH); Kristiania University College; Norwegian School of Economics (NHH)
摘要：We study customer inattention by utilizing a notification about a future price change in the mobile subscription market. With detailed customer-level data from a large telecom operator, together with data on prices and contracts offered by competitors, we document that the notification causes an increase in customer attention, which triggers search, plan switching, and churn. In particular, we show that the monthly propensity to churn increases by 60% (from 1% to 1.6%) among customers whose co...
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作者：Mondria, Jordi; Vives, Xavier; Yang, Liyan
作者单位：University of Toronto; University of Navarra; IESE Business School; University of Toronto; Peking University
摘要：We propose a model in which investors cannot costlessly process information from asset prices. At the trading stage, investors are boundedly rational, and their interpretation of prices injects noise into the price, generating a source of endogenous noise trading. Our setup predicts price momentum and yields excessive return volatility and excessive trading volume. In an overall equilibrium, investors optimally choose sophistication levels by balancing the benefit of beating the market against...
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作者：Griffin, John M.; Liu, Clark; Shu, Tao
作者单位：University of Texas System; University of Texas Austin; Tsinghua University; The Chinese University of Hong Kong, Shenzhen
摘要：This paper examines whether the massive Chinese anticorruption campaign ensnares corrupt firms, contains a political component, and reduces corporate corruption. Consistent with the campaign's stated objectives, investigated executives are more likely to come from Chinese firms with characteristics commonly associated with measures of poor governance, self-dealing, and inefficiencies. However, affiliations with prominent investigated political leaders increase investigation likelihood, while u...
