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作者：Espinosa, Miguel
作者单位：Pompeu Fabra University
摘要：What are the determinants of in-house employment versus outsourcing in the service sector? I use detailed data on U.S. lobbying services to answer this question. I argue with a series of correlational exercises that firms tend to outsource lobbying tasks that demand a large amount of general skills, whereas they are more likely to assign firm specific tasks to in-house lobbyists. I provide causal evidence that the need to do tasks that vary in their general skill component leads to a change in...
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作者：Ferreira, Kris Johnson; Goh, Joel
作者单位：Harvard University; National University of Singapore
摘要：Assortment rotation-the retailing practice of changing the assortment of products offered to customers-has recently been used as a competitive advantage for both brick-and-mortar and online retailers. We focus on product categories where consumers may purchase multiple products during a season and investigate a new reason why frequent assortment rotations can be valuable to a retailer. Namely, by distributing its seasonal catalog of products over multiple assortments rotated throughout the sea...
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作者：Bertomeu, Jeremy; Evans, John Harry, III; Feng, Mei; Tseng, Ayung
作者单位：University of California System; University of California San Diego; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：We develop a model of voluntary disclosure and production decisions and use it to establish that firms will tacitly collude by disclosing when current market demand is low and when the decision horizon is long. Low demand helps sustain tacit collusion, because deviation from tacit collusion yields only a limited increase in profit when demand is low. Similarly, longer decision horizons give firms incentive to receive the benefits of collusion over a longer period. Using monthly production fore...
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作者：Wang, Ruodu; Zitikis, Ricardas
作者单位：University of Waterloo; Western University (University of Western Ontario)
摘要：In the recent Basel Accords, the expected shortfall (ES) replaces the value-at-risk (VaR) as the standard risk measure for market risk in the banking sector, making it the most popular risk measure in financial regulation. Although ES is-in addition to many other nice properties-a coherent risk measure, it does not yet have an axiomatic foundation. In this paper, we put forward four intuitive economic axioms for portfolio risk assessment-monotonicity, law invariance, prudence, and no reward fo...
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作者：Kawaguchi, Kohei
作者单位：Hong Kong University of Science & Technology
摘要：This paper develops a new algorithm for increasing the revenue in a dynamic product assortment problem. Then, it identifies the challenges faced by managers in practice and discusses the conditions under which workers follow the algorithm. To do so, I conducted a field experiment with a beverage vending machine business. The experiment shows that, on average, workers are reluctant to follow the algorithmic advice; however, the workers are more willing to conform once their forecasts are integr...
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作者：Arora, Ashish; Fosfuri, Andrea; Ronde, Thomas
作者单位：Duke University; National Bureau of Economic Research; Bocconi University; Bocconi University; Copenhagen Business School; Centre for Economic Policy Research - UK
摘要：Most technology startups are set up for exit through acquisition by large corporations. In choosing when to sell, startups face a trade-off. Early acquisition reduces execution errors, but later acquisition both improves the likelihood of finding a better match and benefits from increased buyer competition. Startups' exit strategies vary considerably: Some startups aim to sell early; others remain in stealth mode by developing the invention for a late sale. We develop an analytical model to st...
