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作者：Attanasi, Giuseppe; Battigalli, Pierpaolo; Manzoni, Elena
作者单位：Centre National de la Recherche Scientifique (CNRS); Universites de Strasbourg Etablissements Associes; Universite de Strasbourg; Universites de Strasbourg Etablissements Associes; Universite de Strasbourg; Bocconi University; Bocconi University; University of Milano-Bicocca
摘要：In the theory of psychological games it is assumed that players' preferences on material consequences depend on endogenous beliefs. Most of the applications of this theoretical framework assume that the psychological utility functions representing such preferences are common knowledge. However, this is often unrealistic. In particular, it cannot be true in experimental games where players are subjects drawn at random from a population. Therefore, an incomplete-information methodology is needed...
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作者：Seenivasan, Satheesh; Sudhir, K.; Talukdar, Debabrata
作者单位：Monash University; Yale University; State University of New York (SUNY) System; University at Buffalo, SUNY
摘要：Do store brands aid store loyalty by enhancing store differentiation or merely draw price-sensitive customers with little or no store loyalty? This paper seeks to answer this question by empirically investigating the relationship between store brand loyalty and store loyalty. First, we find a robust, monotonic, positive relationship between store brand loyalty and store loyalty by using multiple loyalty metrics and data from multiple retailers and by controlling for alternative factors that ca...
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作者：Chang, Woo-Jin; Hayes, Rachel M.; Hillegeist, Stephen A.
作者单位：Hautes Etudes Commerciales (HEC) Paris; INSEAD Business School; Utah System of Higher Education; University of Utah; Arizona State University; Arizona State University-Tempe
摘要：We examine how ex ante financial distress risk affects CEO compensation. To disentangle the joint effects of performance on compensation and distress risk, we focus our analyses on new CEOs. Our results indicate that financial distress risk affects compensation through two channels. First, new CEOs receive significantly more compensation when financial distress risk is higher. This finding is consistent with CEOs receiving a compensation premium for bearing this risk since CEOs experience larg...
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作者：Goh, Joel; Pfeffer, Jeffrey; Zenios, Stefanos A.
作者单位：Harvard University; Stanford University
摘要：Even though epidemiological evidence links specific workplace stressors to health outcomes, the aggregate contribution of these factors to overall mortality and health spending in the United States is not known. In this paper, we build a model to estimate the excess mortality and incremental health expenditures associated with exposure to the following 10 workplace stressors: unemployment, lack of health insurance, exposure to shift work, long working hours, job insecurity, work-family conflic...
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作者：He, Zhiguo; Matvos, Gregor
作者单位：University of Chicago; National Bureau of Economic Research
摘要：The existing theoretical literature provides little justification for a corporate debt subsidy. We illustrate the welfare benefit of this subsidy and study how the social costs and benefits change with the duration of industry distress. In our model, two firms engage in socially wasteful competition for survival in a declining industry. Firms differ on two dimensions: exogenous productivity and endogenously chosen amount of debt financing, resulting in a two-dimensional war of attrition. Debt ...
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作者：Subramanian, Upender; Rao, Ram C.
作者单位：University of Texas System; University of Texas Dallas
摘要：Daily deal websites help small local merchants to attract new consumers. A strategy adopted by some websites is to continually track and display the number of deals sold by a merchant. We investigate the strategic implications of displaying deal sales and the website's incentive to implement this feature. We analyze a market in which a merchant offering an experience good is privately informed of its type. Whereas daily deals cannibalize a merchant's revenue from experienced consumers, we show...
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作者：Bradler, Christiane; Dur, Robert; Neckermann, Susanne; Non, Arjan
作者单位：Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Tinbergen Institute; Leibniz Association; Ifo Institut; IZA Institute Labor Economics; Maastricht University; Maastricht University Medical Centre (MUMC)
摘要：This paper reports the results from a controlled field experiment designed to investigate the causal effect of unannounced, public recognition on employee performance. We hired more than 300 employees to work on a three-hour data-entry task. In a random sample of work groups, workers unexpectedly received recognition after two hours of work. We find that recognition increases subsequent performance substantially, and particularly when recognition is exclusively provided to the best performers....
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作者：Donelson, Dain C.; Hopkins, Justin J.
作者单位：University of Texas System; University of Texas Austin; University of Virginia
摘要：This study finds that large marketwide declines in stock prices are associated with higher litigation incidence and settlements even though marketwide events are legally irrelevant. The probability of litigation nearly doubles (from 0.29% to 0.55%) and the amount of settlements also doubles (from $5.0 million to $10.1 million) when earnings disclosures occur during a large market decline, even after controlling for the firm's market-adjusted return. Furthermore, judges with (without) specializ...
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作者：Leider, Stephen; Lovejoy, William S.
作者单位：University of Michigan System; University of Michigan
摘要：We study experimentally bargaining in a multiple-tier supply chain with horizontal competition and sequential bargaining between tiers. Our treatments vary the cost differences between firms in tiers 1 and 2. We measure how these underlying costs influence the efficiency, negotiated prices, and profit distribution across the supply chain, as well as the consistency of these outcomes with existing theory. We find that the structural issue of cost differentials dominates personal characteristics...
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作者：Brennan, Michael J.; Huh, Sahn-Wook; Subrahmanyam, Avanidhar
作者单位：University of California System; University of California Los Angeles; University of Manchester; State University of New York (SUNY) System; University at Buffalo, SUNY
摘要：We decompose PIN, the probability of informed trading, into good-news (PIN_G) and bad-news (PIN_B) components, which we estimate at a quarterly frequency. We first assess the validity of PIN as a measure of informed trading by calculating its association with measures of the adverse-selection component of the cost of trading. We then provide new evidence that PIN_G and PIN_B capture informed trading around earnings announcements by showing that they predict positive and negative earnings surpr...
