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作者：Exley, Christine L.; Naecker, Jeffrey K.
作者单位：Harvard University; Wesleyan University
摘要：Previous research often interprets the choice to restrict one's future opportunity set as evidence for sophisticated time inconsistency. We propose an additional mechanism that may contribute to the demand for commitment technology: the desire to signal to others. We present a field experiment where participants can choose to give up money if they do not follow through with an action. When commitment choices are made public rather than kept private, we find significantly higher uptake rates.
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作者：Drake, Michael S.; Jennings, Jared; Roulstone, Darren T.; Thornock, Jacob R.
作者单位：Brigham Young University; Washington University (WUSTL); University System of Ohio; Ohio State University
摘要：Prior literature has documented that investor attention and constraints on that attention are associated with the pricing of stocks. We introduce the concept of attention comovement, which is the extent to which investor attention to a firm is explained by attention paid to the firm's industry and the market in general. We find that attention comovement is nontrivial for the average firm and is related to firm characteristics, such as size and visibility. We also find that the comovement of in...
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作者：Li, Cuihong; Wan, Zhixi
作者单位：University of Connecticut; University of Oregon
摘要：Buyers have two levers to enhance their supply base performance: fostering supplier competition and inducing suppliers to improve. The competition-improvement relation between the two levers has important implications for supply base design. We study a buyer facing two potential suppliers that can exert cost-reduction efforts, examining the interplay of supplier competition and supplier cost improvement under various information structures (i.e., the supplier effort is observable or unobservab...
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作者：Cao, Charles; Farnsworth, Grant; Liang, Bing; Lo, Andrew W.
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Texas Christian University; University of Massachusetts System; University of Massachusetts Amherst; Massachusetts Institute of Technology (MIT)
摘要：We use a new hedge fund data set from a separate account platform to examine (1) how much of hedge fund return smoothing is due to main fund-specific factors, such as managerial reporting discretion and (2) the costs of removing hedge fund share restrictions. These accounts trade pari passu with matching hedge funds but feature third-party reporting and permissive share restrictions. We use these properties to estimate that 33% of reported smoothing is due to managerial reporting methods. The ...
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作者：Adida, Elodie; Mamani, Hamed; Nassiri, Shima
作者单位：University of California System; University of California Riverside; University of Washington; University of Washington Seattle
摘要：Healthcare reimbursements in the United States have been traditionally based on a fee-for-service (FFS) scheme, providing incentives for high volume of care, rather than efficient care. The new healthcare legislation tests new payment models that remove such incentives, such as the bundled payment (BP) system. We consider a population of patients (beneficiaries). The provider may reject patients based on the patient's cost profile and selects the treatment intensity based on a risk-averse util...
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作者：Christoffersen, Peter; Du, Du; Elkamhi, Redouane
作者单位：University of Toronto; Copenhagen Business School; CREATES; City University of Hong Kong
摘要：We embed systematic default, procyclical recovery rates, and external habit persistence into a model with a slight possibility of a macroeconomic disaster of reasonable magnitude. We derive analytical solutions for defaultable bond prices and show that a single set of structural parameters calibrated to the real economy can simultaneously explain several key empirical regularities in equity, credit, and options markets. Our model captures the empirical level and volatility of credit spreads, g...
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作者：Staats, Bradley R.; Dai, Hengchen; Hofmann, David; Milkman, Katherine L.
作者单位：University of North Carolina; University of North Carolina Chapel Hill; Washington University (WUSTL); University of Pennsylvania
摘要：The design and use of standard processes are foundational recommendations in many operations practices. Yet, given the demonstrated performance benefits of standardized processes, it is surprising that they are often not followed consistently. One way to ensure greater compliance is by electronically monitoring the activities of individuals, although such aggressive monitoring poses the risk of inducing backlash. In the setting of hand hygiene in healthcare, a context where compliance with sta...
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作者：Papanastasiou, Yiangos; Savva, Nicos
作者单位：University of California System; University of California Berkeley; University of London; London Business School
摘要：When a product of uncertain quality is first introduced, consumers may choose to strategically delay their purchasing decisions in anticipation of the product reviews of their peers. This paper investigates how the presence of social learning affects the strategic interaction between a dynamic-pricing monopolist and a forward-looking consumer population, within a simple two-period model. Our analysis yields three main insights. First, we find that the presence of social learning has significan...
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作者：Yonker, Scott E.
作者单位：Cornell University
摘要：I examine the role of geography in the market for CEOs and find that firms hire locally five times more often than expected if geography were irrelevant to the matching process. This local matching bias is widespread and exists even among the largest U.S. firms. Tests reveal that both labor supply and demand influence local matching. Compensation and unforced turnover are lower for local than for nonlocal CEOs, and the compensation of local CEOs depends on local labor market factors, unlike th...
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作者：Mochon, Daniel; Schwartz, Janet; Maroba, Josiase; Patel, Deepak; Ariely, Dan
作者单位：Tulane University; Duke University
摘要：We examine the extended effects of an incentive-based behavioral health intervention designed to improve nutrition behavior. Although the intervention successfully improved the target behavior, less is known about any spillovers, positive or negative, that impacted the program's net benefit. This novel examination presents an opportunity to advance our knowledge of this important question, particularly because many theories predict that balancing behaviors in other domains (e.g., reduced exerc...
