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作者：Chen, Yuxin; Yao, Song
作者单位：New York University; NYU Shanghai; Northwestern University
摘要：We propose a structural model of consumer sequential search under uncertainty about attribute levels of products. Our identification of the search model relies on exclusion restriction variables that separate consumer utility and search cost. Because such exclusion restrictions are often available in online click-stream data, the identification and corresponding estimation strategy is generalizable for many online shopping websites where such data can be easily collected. Furthermore, one impo...
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作者：Craig, Ashley C.; Garbarino, Ellen; Heger, Stephanie A.; Slonim, Robert
作者单位：Harvard University; University of Sydney; University of Sydney
摘要：We estimate and compare the effect of increased time costs on consumer satisfaction and behavior. We are able to move beyond the existing literature, which focuses on satisfaction and intention, and estimate the effect of waiting time on return behavior. Further, we do so in a prosocial context and our measure of cost is the length of time a blood donor spends waiting. We find that relying on satisfaction data masks important time cost sensitivities; namely, it is not how the donor feels about...
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作者：DeFond, Mark; Erkens, David H.; Zhang, Jieying
作者单位：University of Southern California; University of Texas System; University of Texas Dallas
摘要：A large auditing literature concludes that Big N auditors provide higher audit quality than non-Big N auditors. Recently, however, a high-profile study suggests that propensity score matching (PSM) on client characteristics eliminates the Big N effect [Lawrence A, Minutti-Meza M, Zhang P (2011) Can Big 4 versus non-Big 4 differences in audit-quality proxies be attributed to client characteristics? Accounting Rev. 86(1):259-286]. We conjecture that this finding may be affected by PSM's sensitiv...
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作者：Despotakis, Stylianos; Hafalir, Isa; Ravi, R.; Sayedi, Amin
作者单位：Carnegie Mellon University; University of Washington; University of Washington Seattle
摘要：We examine the effect of the presence of expert buyers on other buyers, the platform, and the sellers in online markets. We model buyer expertise as the ability to accurately predict the quality, or condition, of an item, modeled as its common value. We show that nonexperts may bid more aggressively, even above their expected valuation, to compensate for their lack of information. As a consequence, we obtain two interesting implications. First, auctions with a hard close may generate higher re...
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作者：Lee, Yun Shin; Siemsen, Enno
作者单位：Korea Advanced Institute of Science & Technology (KAIST); University of Wisconsin System; University of Wisconsin Madison
摘要：We conduct three behavioral laboratory experiments to compare newsvendor order decisions placed directly to order decisions submitted in a decomposed way by soliciting point forecasts, uncertainty estimates, and service-level decisions. Decomposing order decisions in such a way often follows from organizational structure and can lead to performance improvements compared with ordering directly. However, we also demonstrate that if the critical ratio is below 50%, or if the underlying demand unc...
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作者：Chen, Li; Lee, Hau L.
作者单位：Cornell University; Stanford University
摘要：Companies that source from emerging economies often face supplier responsibility risks, namely, financial and reputational burdens that the companies have to bear when their suppliers' engagement in noncomplying labor and environmental practices becomes public. To mitigate such risks, companies can invest in screening mechanisms and design incentive schemes in sourcing contracts. Common mitigation instruments include supplier certification, process audits, and contingency payments. The interac...
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作者：Allen, Eric J.; Dechow, Patricia M.; Pope, Devin G.; Wu, George
作者单位：University of Southern California; University of California System; University of California Berkeley; University of Chicago
摘要：Theories of reference-dependent preferences propose that individuals evaluate outcomes as gains or losses relative to a neutral reference point. We test for reference dependence in a large data set of marathon finishing times (n = 9; 789; 093). Models of reference-dependent preferences such as prospect theory predict bunching of finishing times at reference points. We provide visual and statistical evidence that round numbers (e.g., a four-hour marathon) serve as reference points in this envir...
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作者：Gambardella, Alfonso; Raasch, Christina; von Hippel, Eric
作者单位：Bocconi University; Bocconi University; Technical University of Munich; Massachusetts Institute of Technology (MIT)
摘要：Innovation has traditionally been seen as the province of producers. However, theoretical and empirical research now shows that individual users-consumers-are also a major and increasingly important source of new product and service designs. In this paper, we build a microeconomic model of a market that incorporates demand-side innovation and competition. We explain the conditions under which firms find it beneficial to invest in supporting and harvesting users' innovations, and we show that s...
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作者：Chen, Shi; Lee, Hau
作者单位：University of Washington; University of Washington Seattle; Stanford University
摘要：We consider a project supply chain where a manufacturer carries out a sequence of tasks, and each task requires certain key materials from a supplier. Since a fixed-price contract cannot attain channel coordination, we focus on time-based incentive contracts. Our proposed contract requires optimization of the material delivery schedule as well as the fraction and the timing of a delayed payment to each supplier. Under the contract, the manufacturer's profit is affected by the variance but not ...
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作者：Franco, Francesca; Ittner, Christopher D.; Urcan, Oktay
作者单位：University of London; London Business School; University of Pennsylvania; University of Illinois System; University of Illinois Urbana-Champaign
摘要：This study investigates the determinants and trading performance of outside directors' equity deferrals, which represent the choice to convert part or all of their annual cash compensation into deferred company stock. Using a large sample of S&P 1500 firms that allowed directors to defer their cash fees into equity between 1999 and 2009, we find significant associations between equity deferral choices and specific features of the director compensation plans, proxies for directors' outside weal...
