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作者：Abolfathi, Niloofar; Santamaria, Simone; Williams, Charles
作者单位：National University of Singapore; Bocconi University
摘要：This paper examines the relative advantages of single-product and multiproduct firms following changes in customer switching costs. Whereas a single-product firm can closely tailor offerings to customers' needs, a multiproduct firm can create value for customers in the form of flexibility, allowing them to change between product varieties as preferences evolve without needing to switch providers. We argue that this value-creation mechanism is more effective when customers face high switching c...
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作者：Song, Yicheng; Li, Zhuoxin; Sahoo, Nachiketa
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Boston College; Boston University
摘要：We propose an approach to match returning donors to fundraising campaigns on philanthropic crowdfunding platforms. It is based on a structural econometric model of utility-maximizing donors who can derive both altruistic (from the welfare of others) and egoistic (from personal motivations) utilities from donating-a unique feature of philanthropic giving. We estimate our model using a comprehensive data set from DonorsChoose.org-the largest crowdfunding platform for K-12 education. We find that...
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作者：Bian, Jiang; Greenberg, Jason; Li, Jizhen; Wang, Yanbo
作者单位：University of Hong Kong; University of Pennsylvania; Tsinghua University
摘要：There is often considerable anxiety and conflicting advice concerning the benefits of presenting/being evaluated first. We thus investigate how expert evaluators vary in their evaluations of entrepreneurial proposals based upon the order in which they are evaluated. Our research setting is a premiere innovation fund competition in Beijing, China, where the prize money at stake is economically meaningful, and evaluators are quasirandomly assigned to evaluate written grant proposals without the ...
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作者：Caro, Felipe; Colliard, Jean-Edouard; Katok, Elena; Ockenfels, Axel; Stier-Moses, Nicolas; Tucker, Catherine; Wu, D. J.
作者单位：University of California System; University of California Los Angeles; Hautes Etudes Commerciales (HEC) Paris; University of Texas System; University of Texas Dallas; University of Cologne; Massachusetts Institute of Technology (MIT); University System of Georgia; Georgia Institute of Technology
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作者：Mislavsky, Robert; Gaertig, Celia
作者单位：Johns Hopkins University; University of Chicago
摘要：How do we combine others' probability forecasts? Prior research has shown that when advisors provide numeric probability forecasts, people typically average them (i.e., they move closer to the average advisor's forecast). However, what if the advisors say that an event is likely or probable? In eight studies (n = 7,334), we find that people are more likely to act as if they count verbal probabilities (i.e., they move closer to certainty than any individual advisor's forecast) than they are to ...
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作者：Sonsino, Doron; Lahav, Yaron; Roth, Yefim
作者单位：Ben-Gurion University of the Negev; Ben-Gurion University of the Negev; University of Haifa
摘要：The growing market for retail structured investment products and empirical evidence for excessive pricing of such products raise the hypothesis that private investors show increased risk appetite in structured investment contexts. A two-stage framed field experiment building on cumulative prospect theory is designed to test this hypothesis. Subjects' expectations regarding the future performance of an underlying index are elicited first. A bisection algorithm is then applied to derive the cert...
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作者：Patatoukas, Panos N.; Sloan, Richard G.; Wang, Annika Yu
作者单位：University of California System; University of California Berkeley; University of Southern California; University of Houston System; University of Houston
摘要：We use the initial public offering (IPO) setting to provide evidence that the combination of valuation uncertainty and short-sales constraints generates significant equity market mispricing. The IPOs that we predict to be most susceptible to overpricing in the immediate aftermarket have first-day returns of +47% and lockup expiration returns of -9%. Our detailed analysis of securities lending market data confirms that these IPOs experience severe short-sales constraints that peak around the lo...
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作者：Shi, Peng
作者单位：University of Southern California
摘要：This paper develops a tractable methodology for designing an optimal priority system for assigning agents to heterogeneous items while accounting for agents' choice behavior. The space of mechanisms being optimized includes deferred acceptance and top trading cycles as special cases. In contrast to previous literature, I treat the inputs to these mechanisms, namely the priority distribution of agents and quotas of items, as parameters to be optimized. The methodology is based on analyzing larg...
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作者：Abraham, Katharine G.; Filiz-Ozbay, Emel; Ozbay, Erkut Y.; Turner, Lesley J.
作者单位：University System of Maryland; University of Maryland College Park; University System of Maryland; University of Maryland College Park; Vanderbilt University; National Bureau of Economic Research
摘要：We study how the menu of contracts presented to a decision maker-including contracts she may be precluded from choosing-affects her choice of remunerative but risky actions relative to lower paying, less risky alternatives. We do this through a series of laboratory experiments modeled after the loan repayment options offered to U.S. student borrowers, analyzing borrowers' task (career) choices in settings that vary the menu of available and unavailable loan repayment plans and knowledge of una...
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作者：Benjaafar, Saif; Bernhard, Harald; Courcoubetis, Costas; Kanakakis, Michail; Papafragkos, Spyridon
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Singapore University of Technology & Design
摘要：It is widely believed that ride sharing, the practice of sharing a car such that more than one person travels in the car during a journey, has the potential to significantly reduce traffic by filling up cars more efficiently. We introduce a model in which individuals may share rides for a certain fee, paid by the rider(s) to the driver through a ride-sharing platform. Collective decision making is modeled as an anonymous nonatomic game with a finite set of strategies and payoff functions among...
