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作者：Agarwal, Sumit; Qian, Wenlan; Zou, Xin
作者单位：National University of Singapore; Hong Kong Baptist University
摘要：Using transaction-level credit-card spending from a large U.S. financial institution, we show that disaggregated sales provide accurate and persistent signals of customer demand relevant to a firm's stock pricing. After controlling for earnings and sales surprises, one interquintile increase in the adjusted customer spending during a firm's fiscal quarter leads to a 1.5 percentage point increase in the 60-day post-earnings announcement cumulative abnormal return. The predictability concentrate...
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作者：Tserenjigmid, Gerelt
作者单位：Virginia Polytechnic Institute & State University
摘要：I develop a simple axiomatic model that incorporates the order effect: the ordering of alternatives (e.g., ranking of universities, the location of products in a grocery store, the order of candidates on a ballot) affects choice frequencies. In my model, the probability of choosing an alternative is proportional to the utility of the alternative, similar to the Luce model. However, the utility of the alternative depends on the relative ordering of the alternative in the menu. I characterize th...
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作者：Zolitz, Ulf; Feld, Jan
作者单位：University of Zurich; University of Zurich; IZA Institute Labor Economics; Leibniz Association; Ifo Institut; Centre for Economic Policy Research - UK; Victoria University Wellington
摘要：This article may be used only for the purposes of research, teaching, and/or private study. Commercial use or systematic downloading (by robots or other automatic processes) is prohibited without explicit Publisher approval, unless otherwise noted. For more information, contact permissions@informs.org. The Publisher does not warrant or guarantee the article's accuracy, completeness, merchantability, fitness for a particular purpose, or non-infringement. Descriptions of, or references to, produ...
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作者：Chod, Jiri; Lyandres, Evgeny
作者单位：Boston College; Tel Aviv University
摘要：This paper develops a theory of financing of entrepreneurial ventures via crypto tokens, which is not limited to platform-based ventures. We compare token financing with traditional equity financing, focusing on agency problems and information asymmetry frictions associated with the two financing methods, as well as on risk sharing between entrepreneurs and investors. Token financing introduces an agency problem not present under equity financing (underproduction), while mitigating an agency p...
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作者：Argote, Linda; Lee, Sunkee; Park, Jisoo
作者单位：Carnegie Mellon University
摘要：We trace the evolution of research on organizational learning. As organizations acquire experience, their performance typically improves at a decreasing rate. Although this learning-curve pattern is found in many industries, organizations vary in the rate at which they learn. In order to understand this variation, we separate organizational learning into four processes: search, knowledge creation, knowledge retention, and knowledge transfer. Within each process, we present research on how dime...
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作者：Hotkar, Parshuram; Gilbert, Stephen M.
作者单位：Indian School of Business (ISB); University of Texas System; University of Texas Austin
摘要：We consider a setting in which a nonexclusive reseller procures partially substitutable products from two suppliers, one of whom introduces a direct channel. We find that the presence of the second supplier alters many of the existing results about the interactions between a reseller and an encroaching supplier. For instance, the reseller's and the supply chain's benefit from the direct channel disappears when the product substitutability is sufficiently large. In addition, when the reseller i...
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作者：Jacobs, Abigail Z.; Watts, Duncan J.
作者单位：University of Michigan System; University of Michigan; University of Pennsylvania
摘要：Theories of organizations are sympathetic to long-standing ideas from network science that organizational networks should be regarded as multiscale and capable of displaying emergent properties. However, the historical difficulty of collecting individuallevel network data for many (N >> 1) organizations, each of which comprises many (n >> 1) individuals, has hobbled efforts to develop specific, theoretically motivated hypotheses connecting micro- (i.e., individual-level) network structure with...
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作者：Ke, T. Tony; Zhu, Yuting
作者单位：Chinese University of Hong Kong; Massachusetts Institute of Technology (MIT)
摘要：We consider a large decentralized freelance platform where buyers with private information about their quality preferences are matched with freelancers that differ in quality. When posting their job requests, buyers can report their quality preferences via cheap talk, which influences freelancers' application and pricing strategies. By exaggerating one's quality preference, a buyer attracts not only more applications from freelancers, but also those with higher quality, at the cost of a higher...
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作者：Simchi-Levi, David
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
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作者：Iancu, Dan Andrei; Trichakis, Nikolaos; Yoon, Do Young
作者单位：Stanford University; INSEAD Business School; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：We consider a system with an evolving state that can be stopped at any time by a decision maker (DM), yielding a state-dependent reward. The DM does not observe the state except for a limited number of monitoring times, which he must choose, in conjunction with a suitable stopping policy, to maximize his reward. Dealing with these types of stopping problems, which arise in a variety of applications from healthcare to finance, often requires excessive amounts of data for calibration purposes an...
