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作者：Gui, Luyi; Atasu, Atalay; Ergun, Ozlem; Toktay, L. Beril
作者单位：University of California System; University of California Irvine; University System of Georgia; Georgia Institute of Technology; Northeastern University
摘要：A key goal of Extended Producer Responsibility (EPR) legislation is to provide incentives for producers to design their products for recyclability. EPR is typically implemented in a collective system, where a network of recycling resources are coordinated to fulfill the EPR obligations of a set of producers, and the resulting system cost is allocated among these producers. Collective EPR is prevalent because of its cost efficiency advantages. However, it is considered to provide inferior desig...
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作者：Lee, Dokyun; Hosanagar, Kartik; Nair, Harikesh S.
作者单位：Carnegie Mellon University; University of Pennsylvania; Stanford University
摘要：We describe the effect of social media advertising content on customer engagement using data from Facebook. We content-code 106,316 Facebook messages across 782 companies, using a combination of Amazon Mechanical Turk and natural language processing algorithms. We use this data set to study the association of various kinds of social media marketing content with user engagement-defined as Likes, comments, shares, and click-throughs-with the messages. We find that inclusion of widely used conten...
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作者：Qian, Jun QJ; Zhu, Julie Lei
作者单位：Fudan University; Shanghai Jiao Tong University
摘要：We evaluate the efficiency of capital deployment for acquiring firms before mergers and acquisitions (M&As), defined as the return on invested capital net of the cost of capital, and link this measure to firms' postacquisition performance. Acquirers with higher preacquisition net returns on investment have superior long-run operating and stock performance than do acquirers with lower returns. Acquirers with low net returns on investment also underperform matching nonacquirers. The relationship...
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作者：Manconi, Alberto; Massa, Massimo; Zhang, Lei
作者单位：Bocconi University; INSEAD Business School; Nanyang Technological University
摘要：We study the informational role of corporate hedging, comparing two hypotheses. Under the opacity hypothesis, corporate hedging makes earnings less informative, renders the firm opaque, and increases informed traders' profitability. Under the transparency hypothesis, hedging reduces uncertainty and erodes the informed traders' information advantage and profitability. Our tests support the transparency hypothesis. Hedging is associated with lower uncertainty (lower implied volatility and analys...
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作者：Chan, Jason; Wang, Jing
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Hong Kong University of Science & Technology
摘要：Online labor marketplaces facilitate the efficient matching of employers and workers across geographical boundaries. The exponential growth of this nascent online phenomenon holds important social and economic implications, as the hiring decisions made on these online platforms implicate the incomes of millions of workers worldwide. Despite this importance, limited effort has been devoted to understanding whether potential hiring biases exist in online labor platforms and how they may affect h...
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作者：Ebert, Sebastian; Nocetti, Diego C.; Schlesinger, Harris
作者单位：Frankfurt School Finance & Management; Tilburg University; Clarkson University; University of Alabama System; University of Alabama Tuscaloosa
摘要：A large strand of research has identified when (i) a single risk is undesirable and (ii) two independent risks aggravate each other. We extend this line of inquiry by establishing when (iii) mutual aggravation is greater for greater risks. This natural property of greater mutual aggravation explains recent experimental findings on higher-order risk preferences, and can guide managerial behavior when risks in the decision environment become more severe.
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作者：Ramdas, Kamalini; Saleh, Khaled; Stern, Steven; Liu, Haiyan
作者单位：University of London; London Business School; Detroit Medical Center; State University of New York (SUNY) System; Stony Brook University; State University System of Florida; University of South Florida
摘要：We use a unique, hand-collected data set to examine learning and forgetting in hip replacement surgery as a function of a surgeon's experience with specific surgical device versions and the time between their repeat uses. We also develop a generalizable method to correct for the left censoring of device-version-specific experience variables that is a common problem in highly granular experience data, using maximum simulated likelihood estimation with simulation over unobservables conditional o...
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作者：Athey, Susan; Calvano, Emilio; Gans, Joshua S.
作者单位：Stanford University; University of Bologna; University of Toronto; National Bureau of Economic Research
摘要：We develop a model of advertising markets in an environment where consumers may switch (or multi-home) across publishers. Consumer switching generates inefficiency in the process of matching advertisers to consumers, because advertisers may not reach some consumers and may impress others too many times. We find that when advertisers are heterogeneous in their valuations for reaching consumers, the switching-induced inefficiency leads lower-value advertisers to advertise on a limited set of pub...
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作者：Ban, Gah-Yi; El Karoui, Noureddine; Lim, Andrew E. B.
作者单位：University of London; London Business School; University of California System; University of California Berkeley; National University of Singapore; National University of Singapore
摘要：The portfolio optimization model has limited impact in practice because of estimation issues when applied to real data. To address this, we adapt two machine learning methods, regularization and cross-validation, for portfolio optimization. First, we introduce performance-based regularization (PBR), where the idea is to constrain the sample variances of the estimated portfolio risk and return, which steers the solution toward one associated with less estimation error in the performance. We con...
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作者：Cui, Tony Haitao; Zhang, Yinghao
作者单位：University of Minnesota System; University of Minnesota Twin Cities; University System of Ohio; University of Cincinnati
摘要：We examine a supply chain with a single supplier and multiple retailers to predict retailers' actual ordering behaviors. If retailer orders exceed supplier capacity, a proportional rationing rule applies to capacity allocation among retailers. We propose a behavior model based on cognitive hierarchy theory, in which retailers with different levels of strategic-reasoning capabilities form heterogeneous beliefs about other players' capabilities when choosing their orders. This behavioral model y...
