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作者：Crapis, Davide; Ifrach, Bar; Maglaras, Costis; Scarsini, Marco
作者单位：Airbnb; Columbia University; Luiss Guido Carli University
摘要：Amonopolist offers a product to a market of consumers with heterogeneous quality preferences. Although initially uninformed about the product quality, they learn by observing past purchase decisions and reviews of other consumers. Our goal is to analyze the social learning mechanism and its effect on the seller's pricing decision. Consumers follow an intuitive, non-Bayesian decision rule. Under conditions that we identify, we show that consumers eventually learn the product's quality. We show ...
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作者：DeFond, Mark; Erkens, David H.; Zhang, Jieying
作者单位：University of Southern California; University of Southern California; University of Texas System; University of Texas Dallas
摘要：This discussion presents the comments by the authors of Lawrence et al. [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] to the critique of their study in DeFond et al. [DeFond M, Erkens DH, Zhang J (2017) Do client characteristics really drive the Big N audit quality effect? New evidence from propensity score matching. Management Sci. 63(11):3628-3649] and respon...
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作者：Greenwood, Brad N.; Agarwal, Ritu; Agarwal, Rajshree; Gopal, Anandasivam
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; University System of Maryland; University of Maryland College Park
摘要：Although the adoption of new technology has received significant attention in management research, investigations of abandonment have lagged. In this study, we examine differences in the rates of abandonment of medical technologies based on whether abandonment occurs in response to the emergence of a superior technology or in light of new information questioning its efficacy. We link differences in responses to underlying differences in the missions and incentives of organizations. Examining c...
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作者：McKenzie, David; Woodruff, Christopher
作者单位：The World Bank; University of Warwick
摘要：Management has a large effect on the productivity of medium and large firms. But does management matter in micro and small firms, where the majority of the labor force in developing countriesworks? We develop 26 questions that measure business practices in marketing, stock-keeping, record-keeping, and financial planning. These questions have been administered in surveys in Bangladesh, Chile, Ghana, Kenya, Mexico, Nigeria, and Sri Lanka. We show that variation in business practices explains as ...
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作者：Li, C. Wei; Tiwari, Ashish; Tong, Lin
作者单位：University of Iowa; Fordham University
摘要：We provide novel evidence on the role of ambiguity aversion in determining the response of mutual fund investors to fund performance. Our analysis is motivated by theoretical models of decision making by ambiguity-averse investors. A key implication of the models is that when investors face information signals of uncertain quality, they place a greater weight on the worst signal. We find strong empirical support for this prediction in the form of heightened sensitivity of investor fund flows t...
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作者：Zantedeschi, Daniel; Feit, Eleanor McDonnell; Bradlow, Eric T.
作者单位：University System of Ohio; Ohio State University; Drexel University; University of Pennsylvania
摘要：Advances in data collection have made it increasingly easy to collect information on advertising exposures. However, translating this seemingly rich data into measures of advertising response has proven difficult, largely because of concerns that advertisers target customers with a higher propensity to buy or increase advertising during periods of peak demand. We show how this problem can be addressed by studying a setting where a firm randomly held out customers from each campaign, creating a...
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作者：Brown, Martin; Trautmann, Stefan T.; Vlahu, Razvan
作者单位：University of St Gallen; Ruprecht Karls University Heidelberg; Tilburg University
摘要：We study experimental coordination games to examine through which transmission channels and under which information conditions a panic-based depositor run at one bank may trigger a panic-based depositor run at another bank. We find that withdrawals at one bank trigger withdrawals at another bank by increasing players' beliefs that other depositors in their own bank will withdraw, making them more likely to withdraw as well. Observed withdrawals only affect depositors' beliefs, and are thus con...
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作者：Kou, Steven; Yu, Cindy; Zhong, Haowen
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作者：Funk, Russell J.; Owen-Smith, Jason
作者单位：University of Minnesota System; University of Minnesota Twin Cities; University of Michigan System; University of Michigan
摘要：This article outlines a network approach to the study of technological change. We propose that new inventions reshape networks of interlinked technologies by shifting inventors' attention to or away from the knowledge on which those inventions build. Using this approach, we develop novel indexes of the extent to which a new invention consolidates or destabilizes existing technology streams. We apply these indexes in analyses of university research commercialization and find that, although fede...
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作者：Chung, Doug J.
作者单位：Harvard University
摘要：Intercollegiate athletics in the United States have become a multibillion-dollar industry over the past several decades. In this study, we investigate the short-and longterm direct monetary effects of operating a winning athletics program for an academic institution of higher education. We construct a unique panel data set from multiple sources and utilize the latest dynamic panel data estimation methods to account for heterogeneity while also addressing endogeneity concerns. We find that succ...
