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作者：Negoescu, Diana M.; Bimpikis, Kostas; Brandeau, Margaret L.; Iancu, Dan A.
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Stanford University; Stanford University
摘要：Currently available medication for treating many chronic diseases is often effective only for a subgroup of patients, and biomarkers accurately assessing whether an individual belongs to this subgroup typically do not exist. In such settings, physicians learn about the effectiveness of a drug primarily through experimentation-i.e., by initiating treatment and monitoring the patient's response. Precise guidelines for discontinuing treatment are often lacking or left entirely to the physician's ...
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作者：Wang, Ruxian; Sahin, Ozge
作者单位：Johns Hopkins University
摘要：Consumers search for product information to resolve valuation uncertainties before purchase. We incorporate search cost into consumer choice models and study the two-stage consider then choose policy. In the first stage, a consumer forms her consideration set by balancing utility uncertainty and search cost. In the second stage, she evaluates all products in her consideration set and chooses the one with the highest net utility. We show that the revenue-ordered assortment (i.e., the offer set ...
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作者：Kagan, Evgeny; Leider, Stephen; Lovejoy, William S.
作者单位：University of Michigan System; University of Michigan
摘要：Bringing a new product to market involves both a creative ideation stage and an execution stage. When time-to-market constraints are binding, important questions are how to divide limited time between the two stages and who should make this decision. We introduce a laboratory experiment that closely resembles this setting: it features a product development task with an open design space, a downstream cost increase, and two development stages. We show that performance is significantly worse whe...
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作者：Gil, Ricard; Ruzzier, Christian A.
作者单位：Johns Hopkins University; University of Navarra; IESE Business School; Universidad de San Andres Argentina
摘要：This paper empirically investigates whether changes in product market competition affect firm boundaries. Exploiting regulation-induced shocks to entry barriers and differences in regulation enforcement across cities to obtain exogenous variation in competition, we establish a negative causal effect of competition (through reduced entry barriers and a larger number of rival firms) on vertical integration in the setting of the Spanish local television industry between 1995 and 2002.
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作者：Morewedge, Carey K.; Tang, Simone; Larrick, Richard P.
作者单位：Boston University; Duke University
摘要：We examined whether people reduce the impact of negative outcomes through emotional hedging-betting against the occurrence of desired outcomes. We found substantial reluctance to bet against the success of preferred U.S. presidential candidates and Major League Baseball, National Football League, National Collegiate Athletic Association (NCAA) basketball, and NCAA hockey teams. This reluctance was not attributable to optimism or a general aversion to hedging. Reluctance to hedge desired outcom...
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作者：Coviello, Decio; Guglielmo, Andrea; Spagnolo, Giancarlo
作者单位：Universite de Montreal; HEC Montreal; Analysis Group Inc.; Stockholm School of Economics; University of Rome Tor Vergata
摘要：We run a regression discontinuity design analysis to document the causal effect of increasing buyers' discretion on procurement outcomes in a large database for public works in Italy. Works with a value above a given threshold have to be awarded through an open auction. Works below this threshold can be more easily awarded through a restricted auction, where the buyer has some discretion in terms of who (not) to invite to bid. Our main result is that discretion increases the probability that t...
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作者：Selcuk, Cemil; Gokpinar, Bilal
作者单位：Cardiff University; University of London; University College London
摘要：We study the selection and dynamics of two popular pricing policies-fixed price and flexible price-in competitive markets. Our paper extends previous work in marketing, for example, Desai and Purohit (2004) by focusing on decentralized markets with a dynamic and fully competitive framework while also considering possible noneconomic aspects of bargaining. We construct and analyze a competitive search model, which allows us to endogenize the expected demand depending on pricing rules and posted...
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作者：Voors, Maarten; Turley, Ty; Bulte, Erwin; Kontoleon, Andreas; List, John A.
作者单位：Wageningen University & Research; Brigham Young University; University of Cambridge; University of Chicago
摘要：We use a field experiment in Sierra Leone to examine how the identity of the manager influences rent seeking and performance in participatory development projects. Specifically, we vary the composition of a committee responsible for implementing a development project-local elites or randomly selected villagers. The design is unique in that it permits us to explore the effectiveness of two alternative local governance modalities and the extent of elite capture in community projects. We find lit...
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作者：Butler, Jeffrey V.; Miller, Joshua B.
作者单位：Louisiana State University System; Louisiana State University; Bocconi University; Bocconi University
摘要：Previous research has documented a behavioral distinction between social risk, or risk caused by human factors, and natural risk. In particular, people tend to demand a premium on the probability of a favorable outcome in order to expose themselves to a social source of risk rather than a natural source of risk. Several explanations for what drives this social risk premium have been offered-most prominently, (i) an aversion to a counterparty's potentially malign intentions and (ii) a more gene...
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作者：Huang, Allen H.; Lehavy, Reuven; Zang, Amy Y.; Zheng, Rong
作者单位：Hong Kong University of Science & Technology; University of Michigan System; University of Michigan; Hong Kong University of Science & Technology
摘要：This study examines analyst information intermediary roles using a textual analysis of analyst reports and corporate disclosures. We employ a topic modeling methodology from computational linguistic research to compare the thematic content of a large sample of analyst reports issued promptly after earnings conference calls with the content of the calls themselves. We show that analysts discuss exclusive topics beyond those from conference calls and interpret topics from conference calls. In ad...
