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作者：Cui, Yao; Davis, Andrew M.
作者单位：Cornell University
摘要：The growth of sharing economy marketplaces like Airbnb has generated discussions on their socioeconomic impact and lack of regulation. As a result, most major cities in the United States have started to collect an occupancy tax for Airbnb bookings. In this study, we investigate the heterogeneous treatment effects of the occupancy tax policy on Airbnb listings, using a combination of a generalized causal forest methodology and a difference-in-differences framework. While we find that the introd...
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作者：Hwang, Chuan Yang; Titman, Sheridan; Wang, Ying
作者单位：National Taiwan University; Nanyang Technological University; University of Texas System; University of Texas Austin; Central University of Finance & Economics
摘要：We classify institutions into socially responsible investors (SRI) and not socially responsible investors using the value weighted corporate social responsibility (CSR) scores of their portfolio holdings. We find that firms that exhibit increases in SRI ownership tend to increase future CSR scores. Our analysis of stock price responses to the revelation of SRI ownership changes indicates that the revelation of higher SRI ownership is associated with negative stock returns. These effects are pa...
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作者：den Boer, Arnoud, V; Keskin, N. Bora
作者单位：University of Amsterdam; University of Amsterdam; Duke University
摘要：We consider a seller's dynamic pricing problem with demand learning and reference effects. We first study the case in which customers are loss-averse: they have a reference price that can vary over time, and the demand reduction when the selling price exceeds the reference price dominates the demand increase when the selling price falls behind the reference price by the same amount. Thus, the expected demand as a function of price has a time-varying kink and is not differentiable everywhere. T...
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作者：Jung, Sun-Moon; Shin, Jae Yong
作者单位：Dongguk University; Seoul National University (SNU)
摘要：We examine the effect of introducing an incentive plan based on social performance in a sample of 186 social mission-oriented firms in Korea. We find that the social performance of social enterprises (SEs) significantly improves over time after adoption of an incentive plan based on social performance, and that the incentive effect increases with managers' perceived measurability of social performance. Moreover, we document that social bonuses do not harm SEs' financial performance and that th...
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作者：Schiffer, Maximilian; Boysen, Nils; Klein, Patrick S.; Laporte, Gilbert; Pavone, Marco
作者单位：Technical University of Munich; Technical University of Munich; Friedrich Schiller University of Jena; Universite de Montreal; HEC Montreal; University of Bath; Stanford University
摘要：In e-commerce warehouses, online retailers increase their efficiency by using a mixed-shelves (or scattered storage) concept, where unit loads are purposefully broken down into single items, which are individually stored in multiple locations. Irrespective of the stock keeping units a customer jointly orders, this storage strategy increases the likelihood that somewhere in the warehouse the items of the requested stock keeping units will be in close vicinity, which may significantly reduce an ...
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作者：Foerderer, Jens; Schuetz, Sebastian W.
作者单位：Technical University of Munich; State University System of Florida; Florida International University
摘要：Although firms' announcement of data breaches can lead to reputational or operational damages, extant research suggests that stock markets are relatively unresponsive to such announcements. We investigate whether markets' unresponsiveness can be explained by firms strategically timing the announcement to coincide with busy days in the media, thereby reducing attention and, ultimately, attenuating market reactions. We leverage novel data on data breach announcements in the United States between...
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作者：Malik, Nikhil; Aseri, Manmohan; Singh, Param Vir; Srinivasan, Kannan
作者单位：University of Southern California; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Carnegie Mellon University
摘要：Bitcoin falls dramatically short of the scale provided by banks for payments. Currently, its ledger grows by the addition of blocks of similar to 2,000 transactions every 10 minutes. Intuitively, one would expect that increasing the block capacity would solve this scaling problem. However, we show that increasing the block capacity would be futile. We analyze strategic interactions of miners, who are heterogeneous in their power over block addition, and users, who are heterogeneous in the valu...
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作者：Czibor, Eszter; Hsu, Danny; Jimenez-Gomez, David; Neckermann, Susanne; Subasi, Burcu
作者单位：University of Iceland; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Universitat d'Alacant; University of Chicago
摘要：This paper explores how loss-framed incentives affect behavior in a multitasking environment in which participants have more than one way of recovering (expected) losses. In a real-effort laboratory experiment, we offer participants task incentives that are framed as either a reward (gain) or penalty (loss). We study their responses along three dimensions: performance in the incentivized task, theft, and voluntary provision of help. We find that framing incentives as a penalty rather than as a...
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作者：Gal-Or, Esther; Shi, Qiaoni
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Bocconi University
摘要：We consider a subscription platform that offers services to variety-seeking consumers who incorporate transportation costs in their decision of how many and which vendor services to consume. ClassPass in fitness and MoviePass in entertainment are examples of such platforms. We find that for the platform to be successful, it should enter markets where consumers' added benefit from patronizing more than one vendor is relatively high, thus strengthening the position of the platform in negotiation...
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作者：Arora, Ashish; Belenzon, Sharon; Suh, Jungkyu
作者单位：Duke University; National Bureau of Economic Research
摘要：Well-functioning markets for technology (MFT) allow inventors to sell their inventions to others that may derive more value from them. We argue that the growing use of science in inventions enhances MFT. Science-based inventions have higher gains from trade and lower transaction costs. This relationship is amplified in equilibrium because science-based inventions are also likely to feature smaller inventors with a greater propensity to trade. Using large-scale data, we show that patents citing...
