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作者：Dargnies, Marie-Pierre; Hakimov, Rustamdjan; Kuebler, Dorothea
作者单位：Universite PSL; Universite Paris-Dauphine; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS); University of Lausanne; Technical University of Berlin
摘要：We document experimentally how biased self-assessments affect the outcome of labor markets. In the experiments, we exogenously manipulate the self-confidence of participants in the role of workers regarding their relative performance by employing hard and easy real-effort tasks. Participants in the role of firms can make offers before information about the workers' performance has been revealed. Such early offers by firms are more often accepted by workers when the real-effort task is hard tha...
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作者：Wang, Ruxian; Dada, Maqbool; Sahin, Ozge
作者单位：Johns Hopkins University
摘要：We investigate heterogeneous customer choice behavior in the presence of main products-ancillary services with options of pay-per-use and subscription-and outside option. The willingness to pay for a service subscription is derived as a dosed-form expression, which enables us to characterize the optimal pricing strategy and the impact of service subscriptions on customer surplus. Analytical results and numerical experiments show that offering service subscriptions may result in win-win, win-wi...
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作者：Edmans, Alex; Mann, William
作者单位：University of London; London Business School; Centre for Economic Policy Research - UK; European Corporate Governance Institute; University of California System; University of California Los Angeles
摘要：Most research on firm financing studies debt versus equity issuance. We model an alternative source, non-core asset sales, and identify three new factors that contrast it with equity. First, unlike asset purchasers, equity investors own a claim to the firm's balance sheet (the balance sheet effect). This includes the cash raised, mitigating information asymmetry. Contrary to the intuition of Myers and Majluf [Myers SC, Majluf NS (1984) Corporate financing and investment decisions when firms ha...
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作者：Farias, Vivek F.; Li, Andrew A.
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：Product and content personalization is now ubiquitous in e-commerce. There are typically not enough available transactional data for this task. As such, companies today seek to use a variety of information on the interactions between a product and a customer to drive personalization decisions. We formalize this problem as one of recovering a large-scale matrix with side information in the form of additional matrices of conforming dimension. Viewing the matrix we seek to recover and the side in...
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作者：Chehrazi, Naveed; Glynn, Peter W.; Weber, Thomas A.
作者单位：University of Texas System; University of Texas Austin; Stanford University; Swiss Federal Institutes of Technology Domain; Ecole Polytechnique Federale de Lausanne
摘要：Based on a dynamic model of the stochastic repayment behavior exhibited by delinquent credit-card accounts in the form of a self-exciting point process, a bank can control the arrival intensity of repayments using costly account-treatment actions. A semi-analytic solution to the corresponding stochastic optimal control problem is obtained using a recursive approach. For a linear cost of treatment effort, the optimal policy in the two-dimensional (intensity, balance) space is described by the f...
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作者：Ghose, Anindya; Ipeirotis, Panagiotis G.; Li, Beibei
作者单位：New York University; Carnegie Mellon University
摘要：It is now well understood that social media plays an increasingly important role in consumers' decision making. However, an overload of social media content in product search engines can hinder consumers from efficiently seeking information. We propose a structural econometric model to understand consumers' preferences and costs on search engines to improve user experience under unstructured social media. Our model combines an optimal stopping framework with an individual-level random utility ...
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作者：Chan, Carri W.; Green, Linda, V; Lekwijit, Suparerk; Lu, Lijian; Escobar, Gabriel
作者单位：Columbia University; University of Pennsylvania; Kaiser Permanente
摘要：Many service systems have servers with different capabilities and customers with varying needs. One common way this occurs is when servers are hierarchical in their skills or in the level of service they can provide. Much of the literature studying such systems relies on an understanding of the relative costs and benefits associated with serving different customer types by the different levels of service. In this work, we focus on estimating these costs and benefits in a complex healthcare set...
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作者：Alizamir, Saed; Iravani, Foad; Mamani, Flamed
作者单位：Yale University; University of Washington; University of Washington Seattle
摘要：The agriculture industry plays a critical role in the U.S. economy, and various industry sectors depend on the output of farms. To protect and raise farmers' income, the U.S. government offers two subsidy programs to farmers: the Price Loss Coverage (PLC) program, which pays farmers a subsidy when the market price falls below a reference price, and the Agriculture Risk Coverage (ARC) program, which is triggered when farmers' revenue is below a threshold. Given the unique features of PLC and AR...
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作者：Bimpikis, Kostas; Candogan, Ozan; Ehsani, Shayan
作者单位：Stanford University; University of Chicago; Stanford University
摘要：This paper studies multitier supply chain networks in the presence of disruption risk. Firms decide how much to source from their upstream suppliers so as to maximize their expected profits, and prices of intermediate goods are set so that markets clear. We provide an explicit characterization of (expected) equilibrium profits, which allows us to derive insights into how the network structure-that is, the number of firms in each tier, production costs, and disruption risk-affect firms' profits...
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作者：Vuillemey, Guillaume
作者单位：Hautes Etudes Commerciales (HEC) Paris; Centre for Economic Policy Research - UK
摘要：Empirically, bank equity value is decreasing in the interest rate. Yet (i) many banks do not hedge interest rate risk, and (ii) more than 50% of hedging banks use derivatives to increase exposure. I model a bank's capital structure and show that these facts are consistent with optimal hedging under financial frictions. Novel predictions on the characteristics of banks taking long or short interest rate derivative positions are tested and supported by the data. Therefore, banks' derivatives exp...
