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作者：Abhishek, Vibhanshu; Dogan, Mustafa; Jacquillat, Alexandre
作者单位：University of California System; University of California Irvine; Massachusetts Institute of Technology (MIT)
摘要：This paper optimizes dynamic pricing and real-time resource allocation policies for a platform facing nontransferable capacity, stochastic demand-capacity imbalances, and strategic customers with heterogenous price and time sensitivities. We characterize the optimal mechanism, which specifies a dynamic menu of prices and allocations. Service timing and pricing are used strategically to: (i) dynamically manage demand-capacity imbalances, and (ii) provide discriminated service levels. The balanc...
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作者：Alsabah, Humoud; Bernard, Benjamin; Capponi, Agostino; Iyengar, Garud; Sethuramana, Jay
作者单位：Columbia University; National Taiwan University
摘要：We develop a model of Coumot competition between capacity-constrained firms that sell a single good to multiple regions. We provide a novel characterization for the unique equilibrium allocation of the good across regions and design an algorithm to compute it. We show that a reduction in transportation costs by a firm may negatively impact the profit of all firms and reduce aggregate consumer surplus if such a firm is capacity constrained. Our results imply that policies promoting free trade m...
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作者：Amengual, Matthew; Apfelbaum, Evan P.
作者单位：University of Oxford; Boston University
摘要：When organizations want their employees to adopt behaviors that advance prosocial and instrumental aims, which motive should they express? A groundswell of recent work suggests that highlighting prosocial actions inspires and motivates employees. Building on this work, we embed a field experiment in the context of an organizational change initiative (Study 1). A large university sought to change the behavior of administrative employees who purchase office supplies, encouraging them to place or...
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作者：Zhang, Jianqiang; Li, Krista J.
作者单位：Jiangsu Normal University; Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：Consumers experience a sense of loss when a product's quality does not match their expectations. To alleviate consumer loss aversion (CLA), firms can disclose information to reduce consumers' uncertainty about product quality and the resulting psychological loss. In this paper, we investigate the implications of CLA on firm profit, consumer surplus, and social welfare when firms endogenously make quality disclosure decisions. We find that CLA leads symmetric firms to disclose quality more ofte...
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作者：Agarwal, Sumit; Ang, Swee Hoon; Deng, Yongheng; Wang, Yonglin
作者单位：National University of Singapore; National University of Singapore; University of Wisconsin System; University of Wisconsin Madison; Lingnan University
摘要：This paper studies the responses among different types of mortgage brokers to occupational licensing regulations. By explicitly accounting for heterogeneities between sole and corporate brokers, we find evidence that sole brokers respond to financial regulatory oversight by applying a more stringent screening process in conducting brokerage activities, hence achieving better loan performances. Specifically, loans originated through sole brokers exhibit higher quality on an array of credit-rele...
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作者：Reisinger, Markus; Schmidt, Jens; Stieglitz, Nils
作者单位：Frankfurt School Finance & Management; Aalto University
摘要：In many industries, multiple independent complementors supply the individual components of a system. In this paper, we develop a formal model to examine the tensions and tradeoffs that result when a firm-either one of the complementors or a de novo entrant-takes competition to the system level by launching an integrated offering that combines the multiple components. A complementor who takes competition to the system level becomes a competitor to itself at the system level. As a consequence, t...
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作者：Blaufus, Kay; Milde, Michael
摘要：Despite subjects being informed about tax rules before making saving decisions, we find-using laboratory experiments-that deferred taxation results in after-tax pensions that are approximately 25% lower compared with an economically equivalent immediate pension-tax system. This indicates substantial tax misperceptions. For subjects with low tax knowledge, tax misperceptions remain stable, even if they have gained experience. Tax misperceptions nearly disappear for all subjects only if we provi...
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作者：Huang, Yi-Chieh; Kan, Kamhon; Tzeng, Larry Y.; Wang, Kili C.
作者单位：National Central University; Academia Sinica - Taiwan; National Taiwan University; National Taiwan University; National Chengchi University; Tamkang University
摘要：Knowing how small a violation of stochastic dominance rules would be accepted by most individuals is a prerequisite to applying almost stochastic dominance criteria. Unlike previous laboratory-experimental studies, this paper estimates an acceptable violation of stochastic dominance rules with 939,690 real world data observations on a choice of deductibles in automobile theft insurance. We find that, for all policyholders in the sample who optimally chose a low deductible, the upper bound esti...
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作者：Chen, Qi; Huang, Zeqiong; Jiang, Xu; Zhang, Gaoqing; Zhang, Yun
作者单位：Duke University; Tsinghua University; Yale University; University of Minnesota System; University of Minnesota Twin Cities; George Washington University
摘要：We examine the effects of asymmetric timeliness in reporting good versus bad news on price informativeness when prices provide useful information to assist firms' investment decisions. We find that a reporting system featuring more timely disclosure of bad news than of good news encourages speculators to trade on their private information. Consequently, it generates a higher expected investment level and firm value. Our analysis generates predictions consistent with empirical findings and prov...
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作者：Peura, Heikki; Bunn, Derek W.
作者单位：Imperial College London; University of London; London Business School
摘要：Increasing variable renewable power generation (e.g., wind) is expected to reduce wholesale electricity prices by virtue of its low marginal production cost. This merit-order effect of renewables displacing incumbent conventional (e.g., gas) generation forms the theoretical underpinning for investment decisions and policy in the power industry. This paper uses a game-theoretic market model to investigate how intermittently available wind generation affects electricity prices in the presence of...
