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作者：Simchi-Levi, David
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
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作者：Glasserman, Paul; Wu, Qi
作者单位：Columbia University; Chinese University of Hong Kong
摘要：Margin requirements for derivative contracts serve as a buffer against the transmission of losses through the financial system by protecting one party to a contract against default by the other party. However, if margin levels are proportional to volatility, then a spike in volatility leads to potentially destabilizing margin calls in times of market stress. Risk-sensitive margin requirements are thus procyclical in the sense that they amplify shocks. We use a GARCH model of volatility and a c...
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作者：Chandra, Ambarish; Weinberg, Matthew
作者单位：University of Toronto; Drexel University
摘要：The relationship between market structure and advertising has been extensively studied, but has generated sharply opposing theoretical predictions, as well as inconclusive empirical findings, likely because of severe endogeneity concerns. We exploit the 2008 merger of Miller and Coors in the U.S. brewing industry to examine how changes in local concentration affect firms' advertising behavior. Well-established regional preferences over beer brands, and the sharp increase in concentration from ...
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作者：Pope, Devin G.; Price, Joseph; Wolfers, Justin
作者单位：University of Chicago; National Bureau of Economic Research; Brigham Young University; University of Michigan System; University of Michigan
摘要：Can raising awareness of racial bias subsequently reduce that bias? We address this question by exploiting the widespread media attention highlighting racial bias among professional basketball referees that occurred in May 2007 following the release of an academic study. Using new data, we confirm that racial bias persisted in the years after the study's original sample but prior to the media coverage. Subsequent to the media coverage, though, the bias disappeared. Several potential mechanisms...
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作者：Vielmaa, Juan Pablo
作者单位：Massachusetts Institute of Technology (MIT)
摘要：It iswell known that selecting a good mixed-integer programming (MIP) formulation is crucial for effectively obtaining a solution with state-of-the art solvers. Although best practices and guidelines for constructing good formulations abound, there is rarely a single systematic construction approach that leads to the best possible formulation. Here, we introduce embedding formulations and complexity as a new MIP formulation paradigm for systematically constructing formulations for disjunctive ...
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作者：Ibanez, Maria R.; Clark, Jonathan R.; Huckman, Robert S.; Staats, Bradley R.
作者单位：Harvard University; University of Texas System; University of Texas at San Antonio; National Bureau of Economic Research; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：Work scheduling research typically prescribes task sequences implemented by managers. Yet employees often have discretion to deviate from their prescribed sequence. Using data from 2.4 million radiological diagnoses, we find that doctors prioritize similar tasks (batching) and those tasks they expect to complete faster (shortest expected processing time). Moreover, they exercise more discretion as they accumulate experience. Exploiting random assignment of tasks to doctors' queues, instrumenta...
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作者：Batsaikhan, Mongoljin; Tumennasan, Norovsambuu
作者单位：Qatar Foundation (QF); Georgetown University in Qatar; Dalhousie University; Aarhus University
摘要：We study the effects of price matching in a setting in which each firm selects both its price and output, simultaneously. We show that the availability of a price-matching option leads to the Cournot outcome in this setting. Our experimental study confirms this result in the laboratory. Our finding is a stark contrast to the one obtained in the standard price competition that the most likely market price in the presence of a price-matching option is the monopolistic price. In addition, we show...
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作者：Yang, S. Alex; Birge, John R.
作者单位：University of London; London Business School; University of Chicago
摘要：As an integrated part of a supply contract, trade credit has intrinsic connections with supply chain coordination and inventory management. Using a model that explicitly captures the interaction of firms' operations decisions, financial constraints, and multiple financing channels (bank loans and trade credit), this paper attempts to better understand the risk-sharing role of trade credit-that is, how trade credit enhances supply chain efficiency by allowing the retailer to partially share the...
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作者：Fisher, Marshall; Gallino, Santiago; Li, Jun
作者单位：University of Pennsylvania; Dartmouth College; University of Michigan System; University of Michigan
摘要：A retailer following a competition-based dynamic-pricing strategy tracks competitors' price changes and then must answer the following questions: (i) Should we respond? (ii) If so, to whom? (iii) How much of a response? (iv) And on which products? The answers require unbiased measures of price elasticity as well as accurate estimates of competitor significance and the extent to which consumers compare prices across retailers. There are two key challenges to quantify these factors empirically: ...
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作者：Kontek, Krzysztof; Lewandowski, Michal
作者单位：Warsaw School of Economics
摘要：First, this paper introduces and axiomatizes range-dependent utility as a new conceptual framework for decision making under risk. It is a simple and well-defined generalization of expected utility theory in which utility depends on the range of lottery outcomes. Second, a special case of this framework is proposed for prediction. It is based on applying a single utility function (decision utility) to every normalized lottery range. The resultant decision utility model predicts well-known expe...
