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作者：Li, Jun; Netessine, Serguei; Koulayev, Sergei
作者单位：University of Michigan System; University of Michigan; University of Pennsylvania
摘要：We study price competition in markets with a large number (in the magnitude of hundreds or thousands) of potential competitors. We address two methodological challenges: simultaneity bias and high dimensionality. Simultaneity bias arises from joint determination of prices in competitive markets. We propose a new instrumental variable approach to address simultaneity bias in high dimensions. The novelty of the idea is to exploit online search and clickstream data to uncover customer preferences...
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作者：Wang, Jingqi; Zhou, Yong-Pin
作者单位：University of Hong Kong; University of Washington; University of Washington Seattle
摘要：We study how queue configuration affects human servers' service time by comparing dedicated queues with shared queues using field data from a natural experiment in a supermarket. We hypothesize that queue configuration may affect servers' service rate through several mechanisms: pooling may affect service rate directly as a result of social loafing effect and competition effect and indirectly via its impact on queue length. To investigate these impacts, we take advantage of the supermarket's c...
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作者：Koerpeoglu, Ersin; Cho, Soo-Haeng
作者单位：University of London; University College London; Carnegie Mellon University
摘要：In a contest in which solvers with heterogeneous expertise exert effort to develop solutions, a recent paper [Terwiesch C, Xu Y (2008) Innovation contests, open innovation, and multiagent problem solving. Management Sci. 54(9):1529-1543] argues that as more solvers enter the contest, every solver will reduce effort due to a lower probability of winning the contest. This paper corrects mistakes in this theory, and shows that there exist high-expertise solvers who may raise their effort in respo...
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作者：Cabral, Luis
作者单位：New York University; Centre for Economic Policy Research - UK
摘要：I examine the dynamics of oligopolies when firms derive subjective value from market leadership. In equilibrium, prices alternate in tandem between high levels and occasional price wars, which take place when market leadership is at stake. The stationary distribution of market shares is typically multimodal; that is, much of the time, there is a stable market leader. Even though shareholders do not value market leadership per se, a corporate culture that values market leadership may increase s...
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作者：Yang, Zhibin (Ben); Hu, Xinxin; Gurnani, Haresh; Guan, Huiqi
作者单位：University of Oregon; University of Houston System; University of Houston; University of Houston Downtown; Wake Forest University; University of Miami
摘要：We study the optimal distribution strategy of a supplier with limited capacity. The supplier may adopt the supplier-only role, be the solo seller in the market, or use the dual-channel strategy and compete with its downstream buyer. In comparison to the case of unlimited capacity, we show that the supplier, the buyer, and consumers may all benefit from the supplier's limited capacity at the same time, leading to a win-winwin outcome. We also find that, under limited capacity, the downstream bu...
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作者：Joe, Denis Yongmin; Oh, Frederick Dongchuhl
作者单位：Korea Advanced Institute of Science & Technology (KAIST)
摘要：We examine the spillover effects that occur within Korean business groups (i.e., chaebols) by focusing on the market reactions of event firms to announcements of credit rating changes. We find that there are positive spillovers (caused by positive market reactions) and negative spillovers (caused by negative market reactions) that are driven by the market reactions of event firms. Our analyses indicate that negative spillovers are more dominant than positive spillovers. Moreover, a spillover t...
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作者：Chen, Ningyuan; Kou, Steven; Wang, Chun
作者单位：Hong Kong University of Science & Technology; National University of Singapore; Columbia University
摘要：We propose a partitioning algorithm to solve a class of linear-quadratic Markov decision processes with inequality constraints and nonconvex stagewise cost; within each region of the partitioned state space, the value function and the optimal policy have analytical quadratic and linear forms, respectively. Compared to grid-based numerical schemes, the partitioning algorithm gives the closed-formsolution without discretization error, and in many cases does not suffer from the curse of dimension...
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作者：Gong, Jie; Sun, Ang; Wei, Zhichao
作者单位：National University of Singapore; Central University of Finance & Economics
摘要：This paper investigates the value of on-the-job experience for workers' long-run career outcomes. We exploit the effects of team relegation in professional soccer by contrasting players on teams just below and just above the cutoff point of relegation. We find that players on teams relegated to a lower division have more match appearances in the short run, and they play in better leagues and earn higher wages in the long run. This gain is concentrated among individuals who are young or less ex...
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作者：Iyer, Ganesh; Singh, Shubhranshu
作者单位：University of California System; University of California Berkeley; Johns Hopkins University
摘要：This paper describes the incentives for firms to seek voluntary product safety certifications. We consider a firm that makes the decision of whether or not to seek certification prior to selling the product. We show that even when the firm and the consumers have the same beliefs about the product's safety, there are incentives for the firm to seek safety certification. The main analysis investigates the role of consumer moral hazard and shows that it can lead to greater incentives for voluntar...
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作者：Nain, Amrita; Wang, Yan
作者单位：University of Iowa; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：We show that partial equity ownership of a rival firm reduces product market competition. Acquisitions of a minority equity stake in rival firms are followed by higher output prices and higher industry profits, particularly when barriers to entry are high. Stock-price reactions of nonparticipating competitors of the acquirer and target are positive while announcement returns of customer firms are negative. Moreover, announcement returns of rivals are significantly higher and those of customers...
