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作者：Billett, Matthew; Freeman, Kayla; Gao, Janet
作者单位：Indiana University System; Indiana University Bloomington; University System of Georgia; University of Georgia; Georgetown University
摘要：We examine how access to debt markets affects firms' incentives to provide trade credit. Using hand-collected trade credit data between customer-supplier pairs and two exogenous shocks to firms' debt capacity, we show that better access to debt reduces firms' provision of trade credit per dollar of sales. The decline in trade credit is concentrated on ex ante powerful customers, but absent for weak ones, suggesting that better access to debt improves firms' bargaining position relative to powe...
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作者：Fradkin, Andrey; Bhole, Monica; Horton, John J.
作者单位：Boston University; Massachusetts Institute of Technology (MIT)
摘要：Information about the number of applicants to a job vacancy might simultaneously signal the degree of competition and vacancy quality. We study how this information affects job search. To do so, we conduct three experiments on a large online job platform in which the treatment varies what information is shown to job seekers. Information about the number of prior applicants to a vacancy increases the number of applications and redirects them to vacancies with few prior applications. Information...
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作者：Lee, Sunkee; Sosa, Manuel E.
作者单位：Carnegie Mellon University; INSEAD Business School
摘要：Companies are adopting unconventional workspaces-often characterized by bright or oddly colored walls, unique light fixtures, unusual office furniture, vibrant artwork, the display of atypical non-work-related objects, and casual and playful atmospheres-to foster creativity. Yet empirical evidence on the causal effect of such unconventional workspaces on creativity has been lacking. Across four experiments involving a total sample of 1,133 participants, we tested the effect of unconventional w...
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作者：Biggs, Max
作者单位：University of Virginia
摘要：We study an off-policy contextual pricing problem in which the seller has access to samples of prices that customers were previously offered, whether they purchased at that price, and auxiliary features describing the customer and/or item being sold. This is in contrast to the well-studied setting in which samples of the customer's valuation (willingness to pay) are observed. In our setting, the observed data are influenced by the previous pricing policy, and we do not know how customers would...
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作者：Kazinnik, Sophia
作者单位：Stanford University
摘要：I study depositor behavior in panic-driven bank runs using an LLM-based survey simulation. I build a representative population of synthetic agents by assigning demographic attributes, expose them to a viral panic post, and randomize bank communication interventions. I validate model responses against human benchmarks and then generate systematic message variants that vary tone, strength, and content within the validated design space. I then include the estimated withdrawal propensities into a ...
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作者：Chen, Zhiqi; Zhang, Mengyu
作者单位：Carleton University; Ocean University of China
摘要：We study firms' incentives to adopt a tracking technology to collect personal data that enable personalized pricing in an online market where some consumers have innate desires for privacy. In a model where two differentiated goods are sold under two different market structures (monopoly and duopoly), we find that the presence of these privacy-sensitive consumers alters the firms' incentive to adopt personalized pricing. In particular, no firm uses personalized pricing in equilibrium if the pr...
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作者：Zhang, Jinghui; Yang, Mochen; Qiao, Dandan; Wei, Qiang
作者单位：Tsinghua University; University of Minnesota System; University of Minnesota Twin Cities; National University of Singapore
摘要：What happens if we train a new large language model (LLM) using data at least partially generated by other LLMs? The explosive success of LLMs means that content online will increasingly be generated by LLMs rather than humans, which inevitably enters the training data sets of next-generation LLMs. In this paper, we study the implications of such regurgitative training on LLM performance. Starting with the machine translation task (a representative language task with well-established evaluatio...
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作者：Hu, Ming; Wang, Jianfu; Wen, Hengda; Zhang, Zhoupeng (Jack)
作者单位：University of Toronto; City University of Hong Kong; University at Albany, SUNY; State University of New York (SUNY) System; University at Buffalo, SUNY
摘要：As ride-sharing becomes an integral part of ride-hailing platforms, understanding its operational and economic implications is crucial. Although shared rides can improve system efficiency and reduce congestion, they also introduce trade-offs, such as longer wait times and rider discomfort. In this paper, we develop a game-theoretic queueing model to examine how a platform operating with one of three objectives, i.e., volume, revenue, or social welfare maximization, sets prices for solo and sha...
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作者：Blann, James Justin
作者单位：Georgia Institute of Technology; University System of Georgia; Georgia Institute of Technology
摘要：The U.S. Security and Exchange Commission's (SEC's) Division of Enforcement is frequently criticized for its ineffective oversight, and certain vocal critics attribute this to a lack of financial experience within the SEC. Using novel hand-collected data on SEC regional directors, I find that most of these senior SEC officials lack practical financial experience. I then use a staggered difference-in-differences research design and find that directors with financial experience open 62% more inv...
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作者：Chen, Christopher J.; Delana, Kraig
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：U.S. health system reform simultaneously promotes alternative payment models (APMs) and integrated provider organizations, where integration is assumed to better enable providers to coordinate and manage the risks introduced by APMs. While the interaction of these two changes has implications for both APM design and regulation of provider integration, it is not well studied. In this paper, we offer empirical evidence on the role of horizontal and vertical integration of orthopedic surgeons in ...
