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作者：Doshi, Hitesh; Kumar, Praveen; Yerramilli, Vijay
作者单位：University of Houston System; University of Houston
摘要：We use forward-looking and exogenous measures of output price uncertainty to examine the effect of price uncertainty on firm-level capital investment, risk management, and debt issuance. The effects of uncertainty vary significantly by firm size. When faced with high price uncertainty, large firms increase their hedging intensity but do not lower capital investment or debt issuance. In contrast, small firms do not adjust their hedging intensity but significantly lower capital expenditure and d...
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作者：Balseiro, Santiago R.; Mirrokni, Vahab S.; Leme, Renato Paes
作者单位：Columbia University; Alphabet Inc.; Google Incorporated
摘要：We study the dynamic mechanism design problem of a seller who repeatedly sells independent items to a buyer with private values. In this setting, the seller could potentially extract the entire buyer surplus by running efficient auctions and charging an upfront participation fee at the beginning of the horizon. In some markets, such as Internet advertising, participation fees are not practical since buyers expect to inspect items before purchasing them. This motivates us to study the design of...
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作者：Chew, Soo Hong; Yi, Junjian; Zhang, Junsen; Zhong, Songfa
作者单位：National University of Singapore; Chinese University of Hong Kong
摘要：We study the role of risk aversion underlying son preference in patriarchal societies, where sons serve as better insurance for old-age support than daughters. The implications of an insurance motive on son preference are twofold. First, prior to the birth of their children, more-risk-averse parents have a stronger preference for sons than for daughters. Second, after the birth of their children, parents with sons are more risk seeking, compared to parents with daughters. We adopt a within-twi...
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作者：Garofalo, Orsola; Rott, Christina
作者单位：Copenhagen Business School; Maastricht University
摘要：Decision makers frequently have a spokesperson communicate their decisions. In this paper, we address two questions. First, does it matter who communicates an unfair decision? Second, does it matter how the unfair decision is communicated? We conduct a modified dictator game experiment in which either the decision maker or a spokesperson communicates the decided allocation to recipients, who then determine whether to punish either of them. We find that receivers punish both the decision maker ...
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作者：Liberti, Jose Maria
作者单位：Northwestern University; DePaul University
摘要：This paper examines how organizational form affects incentives inside a financial institution. Using unique organization-level data, I exploit a change to the hierarchical organization to test whether delegation of authority and reduction of oversight improve the provision of effort by loan officers. I find that empowering loan officers increases their effort in producing and using soft information in their lending decisions. Consistent with the incentive view of delegation, loan officers who ...
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作者：Yang, Nan; Lim, Yong Long
作者单位：National University of Singapore
摘要：We show that temporary incentives can lead to lasting changes in people's daily routines through a field experiment. In randomized controlled trials on Singapore's subways, commuters in the treatment group received a full rebate of their fares for 10 weeks if they exited fare gates before the start of morning peak-travel time. The objective of the fare promotion was to alleviate peak-time congestion by encouraging commuters to travel prepeak. This promotion resembles an actual public program i...
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作者：Dzyabura, Daria; Jagabathula, Srikanth
作者单位：New York University
摘要：Firms are increasingly selling through both offline and online channels, allowing customers to experience the touch and feel of product attributes before purchasing those products. Consequently, the selection of products offered offline affects the demand in both channels. We address how firms should select an optimal offline assortment to maximize profits across both channels; we call this the showcase decision problem. We incorporate the impact of physical evaluation on preferences into the ...
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作者：Ho, Teck-Hua; Png, I. P. L.; Reza, Sadat
作者单位：National University of Singapore; Nanyang Technological University
摘要：We develop a behavioral model of durable good usage with mental accounting for sunk costs. It predicts higher-than-rational usage that attenuates at a rate that increases with sunk costs. Singapore government policy varied the sunk cost of buying a new car. Using Singapore data, we estimate the elasticity of driving with respect to sunk costs to be 0.048, which implies that government policy between 2009 and 2013 was associated with 86 kilometers per month, or 5.6%, more driving. The results a...
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作者：Saccardo, Silvia; Pietrasz, Aniela; Gneezy, Uri
作者单位：Carnegie Mellon University; University of California System; University of California San Diego; University of California System; University of California San Diego; University of Amsterdam
摘要：We design a new procedure for measuring competitiveness and use it to estimate the magnitude of the gender gap in competitiveness. Before working on a task, participants choose what percentage of their payoffs will be based on a piece-rate compensation scheme; the rest of their payoff is allocated to a competitive compensation scheme. This novel procedure allows us to distinguish between 101 levels of competitiveness, as opposed to the binary measure used in the literature. Whereas the binary ...
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作者：Tiefenbeck, Verena; Goette, Lorenz; Degen, Kathrin; Tasic, Vojkan; Fleisch, Elgar; Lalive, Rafael; Staake, Thorsten
作者单位：Swiss Federal Institutes of Technology Domain; ETH Zurich; University of Bonn; University of Lausanne; University of St Gallen; Otto Friedrich University Bamberg
摘要：Inattention and imperfect information bias behavior toward the salient and immediately visible. This distortion creates costs for individuals, the organizations in which they work, and society at large. We show that an effective way to overcome this bias is by making the implications of one's behavior salient in real time, while individuals can directly adapt. In a large-scale field experiment, we gave participants real-time feedback on the resource consumption of a daily, energy-intensive act...
