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作者：Klages-Mundt, Ariah; Minca, Andreea
作者单位：Cornell University; Cornell University
摘要：We develop a model for contagion in reinsurance networks by which primary insurers' losses are spread through the network. Our model handles general reinsurance contracts, such as typical excess of loss contracts. We show that simpler models existing in the literature-namely proportional reinsurance-greatly underestimate contagion risk. We characterize the fixed points of our model and develop efficient algorithms to compute contagion with guarantees on convergence and speed under conditions o...
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作者：Kumar, Vineet; Sun, Yacheng
作者单位：Yale University; Tsinghua University
摘要：We examine how operational or technological transformation impacts consumer value, as well as the effectiveness of a firm's pricing strategies. We develop a model of multidimensional screening featuring forward-looking consumers who make short-run consumption and long-run purchase decisions. Using a detailed panel of consumer data from a rental-by-mail firm, we estimate consumer utility for current consumption, obtaining heterogeneous preferences for bunching and smoothing consumption. Using c...
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作者：Wong, Yu Ting Forester
作者单位：University of Southern California
摘要：Most investor coordination remains undisclosed. I provide empirical evidence on the extent and consequences of investor coordination in the context of hedge fund activism, in which potential benefits and costs from coordination are especially pronounced. In particular, I examine whether hedge fund activists orchestrate wolf packs-that is, groups of investors willing to acquire shares in the target firm before the activist's campaign is publicly disclosed via a 13D filing-as a way to support th...
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作者：Carroni, Elias; Pin, Paolo; Righi, Simone
作者单位：University of Bologna; Bocconi University; Bocconi University; Bocconi University; University of London; University College London; HUN-REN; HUN-REN Centre for Social Sciences; Hungarian Academy of Sciences
摘要：We study the optimal referral strategy of a seller and its relationship with the type of communication channels among consumers. The seller faces a partially uninformed population of consumers, interconnected through a directed social network. In the network, the seller offers rewards to informed consumers (influencers) conditional on inducing purchases by uninformed consumers (influenced). Rewards are needed to bear a communication cost and to induce word of mouth (WOM) either privately (cost...
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作者：Wei, Yanhao Max
作者单位：University of Southern California
摘要：Ideas are connected. New ideas are often seen as creative combinations of previous ideas. I study these connections in the context of motion pictures. A network of 4,445 movies is constructed to indicate which movies are similar. I first examine the properties of the network using descriptive and regression analysis; then I develop a model of network formation for counterfactual analysis. It is found that most movies imitate and evolve around a core of the more successful movies. In addition, ...
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作者：Scott, Erin L.; Shu, Pian; Lubynsky, Roman M.
作者单位：Massachusetts Institute of Technology (MIT); University System of Georgia; Georgia Institute of Technology; Massachusetts Institute of Technology (MIT)
摘要：This paper empirically examines the evaluations of 537 ventures in high-growth industries performed by 251 experienced entrepreneurs, investors, and executives. These experts evaluated ventures by reading succinct summaries of the ventures without meeting the founding teams, and their evaluations were not disclosed to the entrepreneurs. We find that experts can differentiate among early-stage ventures on grounds of quality beyond the explicit venture and entrepreneur characteristics contained ...
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作者：Ip, Edwin; Leibbrandt, Andreas; Vecci, Joseph
作者单位：Monash University; University of Gothenburg
摘要：Gender quotas are frequently proposed to address persistent gender imbalances in managerial roles. However, it is unclear how quotas for female managers affect organizations and whether quotas improve or damage relationships between managers and their subordinates. We conduct a representative survey to study opinions on quotas for female managers and, based upon the survey, design a novel set of experiments to investigate how quotas influence wage setting and effort provision. Our findings rev...
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作者：Kong, Qingxia; Granic, Georg D.; Lambert, Nicolas S.; Teo, Chung Piaw
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Stanford University; National University of Singapore; National University of Singapore
摘要：We demonstrate that lottery markets can exhibit the hot-hand phenomenon, in which past winning numbers tend to have a greater share of the betting proportion in future draws even though past and future events are independent. This is surprising as previous works have instead documented the presence of an opposite effect, the gambler's fallacy in the U.S. lottery market. The current literature also suggests that the gambler's fallacy prevails when random numbers are generated by mechanical devi...
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作者：Kocyigit, Cagil; Iyengar, Garud; Kuhn, Daniel; Wiesemann, Wolfram
作者单位：Swiss Federal Institutes of Technology Domain; Ecole Polytechnique Federale de Lausanne; Columbia University; Imperial College London
摘要：We study a mechanism design problem in which an indivisible good is auctioned to multiple bidders for each of whom it has a private value that is unknown to the seller and the other bidders. The agents perceive the ensemble of all bidder values as a random vector governed by an ambiguous probability distribution, which belongs to a commonly known ambiguity set. The seller aims to design a revenue-maximizing mechanism that is not only immunized against the ambiguity of the bidder values, but al...
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作者：Kamada, Yuichiro; Oery, Aniko
作者单位：University of California System; University of California Berkeley; Yale University
摘要：We propose a model for word-of-mouth (WoM) management where a firm has two tools at hand: offering referral rewards and offering a free contract. Current customers' incentives to engage in WoM can affect the contracting problem of a firm in the presence of positive externalities of users. Formally, we consider a classic Maskin-Riley contracting problem for the receiver of WoM where the firm can pay the senders referral rewards and a sender experiences positive externalities if the receiver ado...
