-
作者：Alos-Ferrer, Carlos; Buckenmaier, Johannes T.; Garagnani, Michele; Rustichini, Aldo
作者单位：Lancaster University; Universitat Jaume I; University of Melbourne; University of Minnesota System; University of Minnesota Twin Cities
摘要：Choice inconsistency is ubiquitous in economic decision making. Standard random utility models as well as sequential sampling models account for it and predict a relation between inconsistency rates and utility differences (strength-of-preference effects). The latter phenomenon is well-established empirically. However, recent literature argues that inconsistency might be the outcome of a deliberate attempt to implement an explicit preference for randomization. We collected new data in three pr...
-
作者：Ghita, Razvan; Zureich, Jacob
作者单位：University of Southern Denmark; Lehigh University
摘要：Socially driven organizations aiming to become more data driven often face practical barriers such as difficulties in measuring complex social objectives. We argue that, even when those practical barriers are addressed, social missions make it harder to foster a data-driven culture by exacerbating employee aversion to algorithms and hard data. Our theory is that emphasizing a social rather than profit-oriented mission increases employees' concern for empathy, and this, in turn, makes them more...
-
作者：Han, Pengfei; Wang, Zhu
作者单位：Peking University; Federal Reserve System - USA; Federal Reserve Bank - Richmond
摘要：Mobile payments are reshaping the global payment landscape with some developing economies leapfrogging advanced economies in adoption. We build and estimate a dynamic model of sequential payment innovations-progressing from cash to card to mobile-to explain this pattern. The model matches cross-country payment technology adoption patterns and shows how advanced economies' early success in adopting card payments dampens subsequent mobile payment adoption. Extending the framework to a two-sided ...
-
作者：Arora, Rohit; Gao, Rui; Tompaidis, Stathis
作者单位：University of Texas System; University of Texas Austin
摘要：We provide a systematic, data-driven methodology for choosing test scenarios among a set of potential scenarios. The test scenarios can be used to accurately estimate measures of tail risk of financial institutions, such as conditional value at risk (CVaR), and can also simultaneously be used for stress testing, that is, to identify conditions for large losses. We validate the methodology on historical data used in stress tests by the Commodity Futures Trading Commission and the Federal Reserv...
-
作者：Li, Hao; Xu, Tianzhuang; Qi, Jin; Chen, Ying-Ju
作者单位：Chinese Academy of Sciences; University of Science & Technology of China, CAS; Hong Kong University of Science & Technology; Hong Kong University of Science & Technology
摘要：This research presents an innovative approach to network development which goes beyond conventional models that use connection rules for individual agents. We show that agents can produce diverse network structures through uniform edge searches which involve random connection attempts without preference. This model offers a new viewpoint on network formation by emphasizing edges in contrast to nodes. Within this framework, edges are considerably more crucial than those in other network formati...
-
作者：Mirzaeian, Neda; Cho, Soo-Haeng; Qian, Sean
作者单位：University of Texas System; University of Texas Dallas; Carnegie Mellon University; Carnegie Mellon University; Carnegie Mellon University
摘要：This paper investigates how autonomous vehicles (AVs) may reshape morning commute travel patterns and impact parking in a central business district (CBD). We develop a continuous-time game-theoretic traffic model that takes into account key economic deterrents to driving, such as parking fees and traffic congestion, and characterize the departure time and parking location (inside or outside the CBD parking area) patterns of commuters in equilibrium. Our analysis shows that all AV commuters may...
-
作者：Aobdia, Daniel; Dong, Ting; Nilsson, Henrik; Zhu, Liwei
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Stockholm School of Economics; University of Oulu; CUNEF Universidad
摘要：This study investigates the role of personality similarity in the formation of auditor-in-charge (AIC)-client management dyads and the development of a collaborative relationship in auditing engagements. We apply the principle of homophily from sociology, that is, the attraction of individuals with similar traits to one another, to the formation of supplier-customer dyads in auditing engagements. Our analyses suggest that AIC-management personality similarity increases the likelihood of dyad f...
-
作者：Backus, Matthew; Blake, Thomas; Pettus, Jett; Tadelis, Steven
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Amazon.com; Massachusetts Institute of Technology (MIT); Leibniz Association; Ifo Institut
摘要：Bargaining breakdown is common in bargaining in environments with incomplete information. We study whether, in these environments, permitting communication impacts bargaining outcomes. On May 23, 2016, eBay Germany's Best Offer platform introduced unstructured communication allowing desktop users, but not mobile users, to accompany offers with a message. Using this natural experiment, our difference-in-differences approach documents a 14% decrease in the rate of breakdown among compliers. Thou...
-
作者：Cachon, Gerard P.; Dizdarer, Tolga; Tsoukalas, Gerry
作者单位：University of Pennsylvania; Boston College; Boston University
摘要：An open debate in platform design is who should control pricing: the platform (centralized pricing) or its service providers (decentralized pricing). We show that a key trade-off is between regulating competition and enabling price tailoring. Centralized pricing allows the platform to manage competition, but it faces information asymmetry as it cannot observe agent costs. Decentralized pricing lets agents adjust prices to their costs, but without oversight, competition can become too strong (p...
-
作者：Debo, Laurens G.; Snitkovsky, Ran I.
作者单位：Dartmouth College; Tel Aviv University
摘要：Tipping is a complex phenomenon cutting across various stakeholders-firms, customers, and workers. Analyzing the long-run impact of policies related to tipping is therefore challenging. To facilitate such analysis, we develop a modeling framework in which a tipping norm forms endogenously in a market consisting of a firm that offers service to potential customers. Customers choose whether to consume the service or not and, if yes, how much to tip the server afterward. With tipping, customers s...
