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作者：Varma, Sushil Mahavir; Castro, Francisco; Maguluri, Siva Theja
作者单位：University System of Georgia; Georgia Institute of Technology; University of California System; University of California Los Angeles
摘要：We study electric vehicle (EV) fleet and charging infrastructure planning in a spatial setting. For a centrally managed fleet that serves customer requests arriving continuously at a rate lambda throughout the day, we determine the minimum number of vehicles and chargers for a target service level along with matching and charging policies. Whereas non-EV systems require extra Theta(lambda 2/3) vehicles because of pickup times, EV systems differ. Charging increases nominal capacity, enabling pi...
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作者：Haan, Peter; Sun, Chen; Sunde, Uwe; Weizsacker, Georg
作者单位：Free University of Berlin; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Fudan University; Shanghai Institute for Mathematics & Interdisciplinary Sciences; Humboldt University of Berlin; University of Munich; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut; IZA Institute Labor Economics
摘要：We examine the additivity of expectations over different time intervals. For example, when asked about 10-year stock price growth, survey respondents report an expected change that is not equal to, but closer to zero than, the sum of their expectations over two shorter time intervals that cover the same 10 years. Such subadditivity, which we also find in expectations for other economic variables, is irrational, as it cannot stem from aggregating short-term expectations. Model estimates show th...
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作者：Hu, Tiayin; Liu, Songrui; Yao, Yang; Zong, Zhu
作者单位：Peking University; Peking University; Peking University; Renmin University of China
摘要：We document a novel trade-credit channel through which government deleveraging affects the private economy. Our empirical analysis exploits China's 2017 deleveraging campaign that reduced local governments' net financing capacity and a purpose-built data set of listed firms matched with government procurement contracts. Compared with noncontractors, private contractors experience larger increases in accounts receivable and deterioration in financial conditions, leading to fewer investments, wo...
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作者：Ross, Chase P.
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：Banks are vital suppliers of money-like safe assets, which they produce by issuing short-term liabilities and pledging collateral. But their ability to create safe assets varies over time as leverage constraints fluctuate. I write a simple model to describe private safeasset production when intermediaries face leverage constraints. I directly measure leverage constraints using confidential supervisory data on high-frequency changes in the largest banks' repurchase agreements (repos). The colla...
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作者：Noussair, Charles N.; Qiao, Liang
作者单位：University of Arizona; Nankai University; Nankai University
摘要：Users are now typically able to access historical data in traffic, restaurant, and retailing contexts. This availability of information can be viewed as a means to reduce congestion. However, scientific support for this notion is weak. We investigate, using a laboratory experiment, whether an intermediate level of information provision might reduce congestion. We also study how the effect of making more information available changes over time. We show that providing all users with information ...
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作者：Vilkkumaa, Eeva; Rikkinen, Petri; Liesio, Juuso
作者单位：Aalto University; Aalto University
摘要：Companies pursue their goals by selecting and implementing a combination or portfolio of actions that consume resources. The extent to which these actions help attain the companies' objectives is often contingent on whether a given future scenario is realized. In this paper, we present a model-based framework for supporting the selection of a portfolio of actions that is robust across different scenarios while accounting for the impacts that the actions may have on the probabilities of these s...
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作者：Wu, Anqi; Wu, Qi; Seshadri, Sridhar
作者单位：State University System of Florida; Florida International University; University System of Ohio; Case Western Reserve University; University of Illinois System; University of Illinois Urbana-Champaign
摘要：Bank credit access allows firms to borrow funds from banks and other financial institutions. Although theories have been developed on how bank financing affects firms' operational decisions, empirical investigations in operations management (OM) literature remain limited. This study examines firms' inventory management strategies in response to the enhanced credit lines from the adoption of interstate bank branching laws, which introduced staggered access to bank credit for operational firms. ...
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作者：Hagmann, David; Sajons, Gwendolin B.; Tinsley, Catherine H.
作者单位：Hong Kong University of Science & Technology; heSam Universite; ESCP Business School; Georgetown University
摘要：Statistical discrimination relies on people inferring unobservable characteristics of group members based on their beliefs about the group. Across four preregistered experiments (N = 9,002), we show that accurate information about the composition of top performers can induce incorrect beliefs about performance differences across groups when the groups are of unequal size. Because people fail to account for base rates, they underestimate the performance of individuals from smaller groups. As a ...
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作者：Henderson, Brian; Jostova, Gergana; Philipov, Alexander
作者单位：George Washington University; George Mason University
摘要：We document that stock lenders are informed about market conditions and pursue revenue maximization by setting premiums or offering discounts on stock loan fees. Using a model of supply and demand in the equity lending market, we illustrate the effect of stock borrowers' private information on the elasticity of shorting demand. Strategic lenders respond to demand elasticity and increase their revenues through premiums or discounts on lending fees. Empirically, decomposing stock loan fees into ...
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作者：Dutta, Sunil; Langer, Lukasz; Patatoukas, Panos N.
作者单位：University of California Berkeley; University of California System; University of California Berkeley
摘要：Many studies use linear regressions of investment on Tobin's q to estimate normal investment levels, often concluding that financial reporting quality enhances investment efficiency. Our findings suggest these inferences are confounded by two key factors. First, consistent with asymmetric capital adjustment costs, investment is significantly less responsive to q values below one than to those above one. Second, firms with q values below one systematically exhibit lower financial reporting qual...
