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作者：Baucells, Manel; Hwang, Woonam
作者单位：University of Virginia; Hautes Etudes Commerciales (HEC) Paris
摘要：Consumers possess a mental account that stores the worth of items purchased and yet to be consumed. Reference prices act as the book values of these items. Movements in the account-the comparison between the reference price and the price paid at entry, and the comparison between the benefit of consumption and the reference price at exit-yield hedonic benefits. The reference price is determined by a psychological process of adaptation to the price evoked by the trade. The model is integrative i...
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作者：Ganguly, Ananda; Tasoff, Joshua
作者单位：Claremont Colleges; Claremont McKenna College; Claremont Graduate University; Claremont Colleges; Claremont Graduate University
摘要：We present evidence that intrinsic demand for information about the future is increasing in expected future consumption utility. In the first experiment, subjects may resolve a lottery now or later. The information is useless for decision making, but the larger the reward, the more likely subjects are to pay to resolve the lottery early. In the second experiment, subjects may pay to avoid being tested for herpes simplex virus type 1 (HSV-1) and the more highly feared type 2 (HSV-2). Subjects a...
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作者：Banerjee, Suman; Noe, Thomas H.
作者单位：University of Wyoming; University of Oxford; University of Oxford
摘要：This paper develops a new theory of the capital structure of parent-subsidiary organizations based on legal-system arbitrage: the capital structure of parent-subsidiary organizations is chosen to minimize the agency costs generated by selective renegotiation of claims written on the component legal entities. We show that optimal mixes of parent-subsidiary-level financing minimize the default premia associated with the organization's overall financing package by equating the marginal enforceabi...
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作者：Trivedi, Minakshi; Gauri, Dinesh K.; Ma, Yu
作者单位：State University of New York (SUNY) System; University at Buffalo, SUNY; Texas Christian University; University of Arkansas System; University of Arkansas Fayetteville; McGill University
摘要：In this study, we focus on measuring the efficiency of category-level sales response to promotions across various categories and stores. Our heterogeneous stochastic frontier model allows us to attribute portions of this efficiency to specific characteristics of the stores and categories. Using our full PEM (promotional efficiency frontier) model, we analyze the efficiency of 20 frequently bought categories of a supermarket retailer and apply it to store-category-level data. We find that the a...
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作者：Calzolari, Giacomo; Nardotto, Mattia
作者单位：University of Bologna; Centre for Economic Policy Research - UK; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung
摘要：We study the effects of reminders on people's behavior in investment activities characterized by up-front costs and delayed benefits, such as getting an education and maintaining a healthy lifestyle. We conduct a field experiment and show that simple weekly reminders induce users of a gym to substantially increase their gym attendance over an extensive period. Users' response to reminders is immediate (within hours) and recurrent for any subsequent reminder, which can be explained by limited a...
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作者：Chun, So Yeon; Kleywegt, Anton J.; Shapiro, Alexander
作者单位：Georgetown University; University System of Georgia; Georgia Institute of Technology
摘要：Many carriers, such as airlines and ocean carriers, collaborate through the formation of alliances. The rules of alliances are important for both the stability of the alliance and the profitability of the alliance members. In this paper, we address the design of resource exchange alliances, a type of alliance agreement widely used in practice, especially in the ocean cargo industry. Resource exchange alliances often increase competition among alliance members since the members can sell substit...
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作者：Winter, Eyal; Mendez-Naya, Luciano; Garcia-Jurado, Ignacio
作者单位：Hebrew University of Jerusalem; University of Leicester; Universidade de Santiago de Compostela; Universidade da Coruna
摘要：We model mental states as part of an equilibrium notion. In a mental equilibrium each player selects an emotional state that determines the player's preferences over the outcomes of the game. These preferences typically differ from the players' material preferences. The emotional states interact to play a Nash equilibrium and, in addition, each player's mental state must be a best response to the mental states of the others (in the sense of maximizing material payoffs). We discuss the concept ...
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作者：Cerreia-Vioglio, Simone; Maccheroni, Fabio; Marinacci, Massimo
作者单位：Bocconi University; Bocconi University
摘要：We characterize the consistency of a large class of nonexpected utility preferences (including mean-variance preferences and prospect theory preferences) with stochastic orders (for example, stochastic dominances of different degrees). Our characterization rests on a novel decision theoretic result that provides a behavioral interpretation of the set of all derivatives of the functional representing the decision maker's preferences. As an illustration, we consider in some detail prospect theor...
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作者：Wan, Zhixi; Wu, Brian
作者单位：University of Oregon; University of Michigan System; University of Michigan
摘要：Although offshore outsourcing has become an important strategy to lower production costs among Western firms, it gives rise to the phenomenon of value chain climbing-suppliers in emerging markets can develop capabilities by supplying, with aspirations to compete with the buyers in the product market. We build an analytical model to study the impact of value chain climbing on value distribution in vertical relationships. The analysis identifies a set of dominant relationships, characterizes how...
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作者：Chod, Jiri
作者单位：Boston College
摘要：This paper has two objectives. First, we show how debt financing distorts a retailer's inventory decision when the retailer orders multiple items that differ in cost, revenue, or demand parameters. Taking advantage of limited liability, a debt-financed retailer favors items with a low salvage value, those with a high profit margin, and those that represent a large proportion of the total inventory investment. Second, we argue that this distortion is mitigated when the financing is provided by ...
