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作者：Zhong, Zemin (Zachary)
作者单位：University of Toronto
摘要：Online platforms often assign sellers summary symbols based on whether their ratings pass certain thresholds. Consumers may focus on the symbols and pay limited attention to the ratings. This bias leads to discontinuously increased demand at the thresholds. I use a theoretical model to illustrate that sellers will lower the prices before their ratings reach the thresholds and increase their prices afterward due to the positive demand shock. I collect data from Taobao to test the theoretical pr...
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作者：Barron, Daniel; Li, Jin; Zator, Michal
作者单位：Northwestern University; University of Hong Kong; University of Notre Dame
摘要：This paper shows that debt undermines relational incentives and harms worker morale. We build a dynamic model of a manager who uses limited financial resources to simultaneously repay a creditor and motivate a worker. If the manager can divert or misuse revenue, then debt makes the manager less willing to follow through on promised rewards, leading to low worker effort. In profit-maximizing equilibria, the firm prioritizes repaying its debts, leading to gradual increases in effort and wages. T...
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作者：Chu, Liya; He, Xue-Zhong; Li, Kai; Tu, Jun
作者单位：East China University of Science & Technology; Xi'an Jiaotong-Liverpool University; Southwestern University of Finance & Economics - China; Macquarie University; Singapore Management University
摘要：This study investigates the impact of investor sentiment on excess equity return forecasting. A high (low) investor sentiment may weaken the connection between fundamental economic (behavioral-based nonfundamental) predictors and market returns. We find that although fundamental variables can be strong predictors when sentiment is low, they tend to lose their predictive power when investor sentiment is high. Nonfundamental predictors perform well during high-sentiment periods while their predi...
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作者：Allon, Gad; Askalidis, Georgios; Berry, Randall; Immorlica, Nicole; Moon, Ken; Singh, Amandeep
作者单位：University of Pennsylvania; Northwestern University; Microsoft
摘要：Lean and agile models of product development organize the flexible capacity to rapidly update individual products in response to customer feedback. Although agile operations have been adopted across numerous industries, neither the benefits nor the factors explaining when firms choose to become agile are validated and understood. We study these questions using data on the development of mobile apps, which occurs through the dynamic release of new versions into the mobile app marketplace, and t...
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作者：Choudhary, Vivek; Shunko, Masha; Netessine, Serguei; Koo, Seongjoon
作者单位：Nanyang Technological University; University of Washington; University of Washington Seattle; University of Pennsylvania
摘要：Driving is an integral component of many operational systems, and any small improvement in driving quality can have a significant effect on accidents, traffic, pollution, and the economy in general. However, making improvements is challenging given the complexity and multidimensionality of driving as a task. In this paper, we investigate the effectiveness of nudging to improve driving performance. In particular, we leverage a smartphone application launched by our industry partners to send thr...
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作者：Xia, Xiaoyu; Chong, Juin Kuan
作者单位：University of Essex; National University of Singapore
摘要：We study taxi markets in Singapore to understand market entry in the field. Although market-entry games in the laboratory consistently produce equilibrium outcomes, we show that a lack of market knowledge hinders the markets from consistently reaching equilibrium in the field. In Singapore, a small, 720-square-kilometre island city that can be divided into 29 taxi markets, full equilibrium is elusive: 68% of the market-entry decisions made by the 2,728 taxi drivers in our data could be improve...
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作者：Lu, Ruichang; Shen, Qiaowei; Wang, Tenghui; Zhang, Xiaojun
作者单位：Peking University
摘要：In this paper, we investigate the impact of ownership structure on corporate advertising expenditures. Using mutual fund mergers as an exogenous shock to ownership structure, we find that competing firms owned by the same institutional blockholders experience a significant reduction in advertising expenditure. The reduction in advertising expenditure is more likely to occur in the presence of higher coordination benefits or lower coordination costs. Specifically, this effect is more pronounced...
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作者：Zhang, Wei; Lee, Hsiao-Hui
作者单位：University of Hong Kong; National Chengchi University
摘要：To stay competitive, high-technology manufacturers not only frequently source new technologies from their suppliers, but also financially support the development of these new technologies into component products or production tools. We consider a manufacturer that can either source a new but immature technology from a financially constrained supplier, or source a mature technology from an existing supplier if and only if the development of the new technology fails. To support the new technolog...
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作者：Fruchter, Gila E.; Prasad, Ashutosh; Van den Bulte, Christophe
作者单位：Bar Ilan University; University of California System; University of California Riverside; University of Pennsylvania
摘要：We study optimal advertising and entry timing decisions for a new product being sold in two-segment markets in which followers are positively influenced by elites, whereas elites are either unaffected or repulsed by product popularity among followers. Key decisions in such markets are not only how much to advertise in each segment over time but also when to enter the follower segment. We develop a continuous-time optimal control model to examine these issues. Analysis yields two sets of two-po...
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作者：Huang, Peng; Lyu, Gaoyan; Xu, Yi
作者单位：University System of Maryland; University of Maryland College Park; Beijing Institute of Technology
摘要：Managing the quality of complementary applications is vital to the success of a two-sided platform. While prior research has focused solely on restricting platform access based on a quality threshold, we compare three quality regulation strategies: (1) the platform excludes access to low-quality complementors, (2) it provides a fixed amount of subsidy to high-quality complementors, and (3) it develops its own high-quality applications in addition to those from third-party complementors. Our an...
