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作者：Demirel, Suleyman; Kapuscinski, Roman; Yu, Man
作者单位：University of Michigan System; University of Michigan; Hong Kong University of Science & Technology
摘要：To mitigate supply disruption risks, some manufacturers consider a flexible sourcing strategy, where they have an option of sourcing from multiple suppliers, including regular unreliable suppliers and backup reliable ones. Our objective is to evaluate the costs and benefits associated with flexible sourcing when suppliers are strategic price setters. We show that when each supplier announces a single (wholesale) price, such a game leads to a conflict of incentives and is not realistic in most ...
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作者：Crane, Alan D.; Koch, Andrew
作者单位：Rice University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
摘要：We use a natural experiment to identify a causal effect of the threat of shareholder litigation on ownership structure, governance, and firm performance. We find that when it becomes harder for small shareholders to litigate, ownership becomes more concentrated and shifts from individuals to institutions. Director and officer governance protections drop among these firms, and operating performance drops among firms whose ownership structure does not change. These results suggest that the abili...
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作者：Morath, Florian; Muenster, Johannes
作者单位：Goethe University Frankfurt; Max Planck Society; University of Cologne
摘要：We study platform design in online markets in which buying involves a (nonmonetary) cost for consumers caused by privacy and security concerns. Firms decide whether to require registration at their website before consumers learn relevant product information. We derive conditions under which a monopoly seller benefits from ex ante registration requirements and demonstrate that the profitability of registration requirements is increased when taking into account the prospect of future purchases o...
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作者：Miller, Amalia R.; Tucker, Catherine
作者单位：University of Virginia; IZA Institute Labor Economics; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT)
摘要：This paper explores how state genetic privacy laws affect the diffusion of personalized medicine, using data on genetic testing for cancer risks. State genetic privacy regimes employ and combine up to three alternative approaches to protecting patient privacy: Rules requiring that an individual is notified about potential privacy risks; rules restricting discriminatory usage of genetic data by employers or insurance companies; and rules limiting redisclosure without the consent of the individu...
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作者：Englmaier, Florian; Schmoeller, Arno; Stowasser, Till
作者单位：University of Munich
摘要：We study the price-setting behavior in a competitive market for used cars and provide empirical evidence for coarse information processing. Based on detailed field data from one of Europe's largest online marketplaces for automotive vehicles, we document systematic and sizable price discontinuities at salient car-age and mileage thresholds. The price difference between two otherwise identical cars across registration years (where one was first registered in January and the other in December of...
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作者：Gantchev, Nickolay; Jotikasthira, Chotibhak
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; Southern Methodist University
摘要：This paper investigates the role of institutional trading in the emergence of hedge fund activism-an important corporate governance mechanism. We demonstrate that institutional sales raise a firm's probability of becoming an activist target. Furthermore, by exploiting the funding circumstances of individual institutions, we establish that such effects occur through a liquidity channel, i.e., the activist camouflages his purchases among other institutions' liquidity sales. Additional evidence s...
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作者：Lu, Susan F.; Rui, Huaxia
作者单位：Purdue University System; Purdue University; University of Rochester
摘要：Despite heated debate about the pros and cons of online physician ratings, little systematic work has examined the correlation between physicians' online ratings and their actual medical quality. Using the ratings of cardiac surgeons at RateMDs and the patient outcomes of coronary artery bypass graft surgeries in the 2013 Florida Hospital Inpatient Discharge Data, we investigate whether online ratings are informative about physicians' medical quality. To account for potentially nonrandom match...
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作者：Feunou, Bruno; Fontaine, Jean-Sebastien
作者单位：Bank of Canada
摘要：Existing results show that (i) lagged forward rates help predict bond returns and (ii) modern Markovian dynamic term structure models (DTSMs) cannot match the evidence [Cochrane JH, Piazzesi M (2005) Bond risk premia. Amer. Econom. Rev. 95(1): 138-160]. We develop the family of conditional mean DTSMs where the dynamics depend on current yields and their history through a moving-average component. Our preferred conditional mean model combines one moving average with the usual three Gaussian ris...
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作者：Aral, Sinan; Bakos, Yannis; Brynjolfsson, Erik
作者单位：Massachusetts Institute of Technology (MIT); New York University
摘要：Many theories address how information technology (IT) affects the number of suppliers and supply chain governance. However, their predictions are at times contradictory and there is relatively little empirical evidence with which to evaluate them. We therefore develop an integrated, multiperiod model of the optimal number of suppliers that combines search and coordination theory, transaction cost economics, and incomplete contracts theory, and we assess our theoretical predictions using a larg...
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作者：Kouchaki, Maryam; Jami, Ata
作者单位：Northwestern University; State University System of Florida; University of Central Florida
摘要：Do prosocial corporate marketing messages promote consumers' altruistic behaviors, or do they advance self-interested and self-indulgent actions? To answer this question, the current research investigates the impact of different framings of prosocial marketing messages on consumers' behaviors and choices more generally. Results from six laboratory studies and a field experiment demonstrate that exposure to messages that praise customers for good deeds can increase subsequent self-interested an...
