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作者：Nadarajah, Selvaprabu; Margot, Francois; Secomandi, Nicola
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Carnegie Mellon University
摘要：The real option management of commodity conversion assets gives rise to intractable Markov decision processes (MDPs), in part because of the use of high-dimensional models of commodity forward curve evolution, as commonly done in practice. Focusing on commodity storage, we identify a deficiency of approximate linear programming (ALP), which we address by developing a novel approach to derive relaxations of approximate linear programs. We apply our approach to obtain a class of tractable ALP re...
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作者：Townsend, Richard R.
作者单位：Dartmouth College
摘要：This paper investigates how venture-backed companies are affected when others sharing the same investor suffer a negative shock. In theory, companies may be helped or hurt in this scenario. To examine the topic empirically, I estimate the impact of the collapse of the technology bubble on non-information-technology (non-IT) companies that were held alongside IInternet companies in venture portfolios. Using a difference-indifferences framework, I find that the end of the bubble was associated w...
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作者：Cohn, Alain; Fehr, Ernst; Goette, Lorenz
作者单位：University of Zurich; University of Lausanne
摘要：The presence of workers who reciprocate higher wages with greater effort can have important consequences for firms and labor markets. Knowledge about the extent and determinants of reciprocal effort choices is, however, incomplete. We investigate the role of fairness perceptions and social preferences in a field experiment in which workers were hired for a one-time job. We show that workers who perceive being underpaid at the base wage increase their performance if the hourly wage increases, w...
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作者：Dahl, Darren W.; Fuchs, Christoph; Schreier, Martin
作者单位：University of British Columbia; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Vienna University of Economics & Business
摘要：B Companies are increasingly drawing on their user communities to generate promising ideas for new products, which are then marketed as user-designed products to the broader consumer market. We demonstrate that nonparticipating, observing consumers prefer to buy from user-rather than designer-driven firms because of an enhanced identification with the firm that has adopted this user-driven philosophy. Three experimental studies validate a newly proposed social identification account underlying...
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作者：Ruffle, Bradley J.; Shtudiner, Ze'ev
作者单位：Wilfrid Laurier University; Ben-Gurion University of the Negev; Ariel University
摘要：We investigate the role of physical attractiveness in the hiring process. We sent 5,312 curricula vitae (CVs) in pairs to 2,656 advertised job openings. In each pair, one CV was without a picture, whereas the second, otherwise almost identical CV contained a picture of either an attractive male or female or a plain-looking male or female. Employer callbacks to attractive men are significantly higher than to men with no picture and to plain-looking men, nearly doubling the latter group. Strikin...
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作者：Brenner, Steffen
作者单位：Copenhagen Business School
摘要：In this paper, I elicit risk attitudes of U.S. executives by calibrating a subjective option valuation model for option exercising data (1996 to 2008), yielding approximately 65,000 values of relative risk aversion (RRA) for almost 7,000 executives. The observed behavior is generally consistent with moderate risk aversion and a median (mean) RRA close to one (three). Values are validated for chief executive officers (CEOs) by testing theory-based predictions on the influence of individual char...
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作者：Berry, Heather; Kaul, Aseem
作者单位：George Washington University; University of Minnesota System; University of Minnesota Twin Cities
摘要：We develop and test a rigorous theoretical account of firm global sourcing decisions, distinguishing the antecedents of offshore integration from those of offshore outsourcing. Although traditional theories of global sourcing focus on lowering costs, we argue that as high-performing firms seek to develop new capabilities by tapping into foreign knowledge, they will increasingly turn to offshore integration to reap colocation benefits and overcome expropriation challenges. By contrast, offshore...
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作者：Anjos, Fernando; Fracassi, Cesare
作者单位：University of Texas System; University of Texas Austin
摘要：We propose and test a view of corporate diversification as a strategy that exploits internal information markets, by bringing together information that is scattered across the economy. First, we construct an interindustry network using input-output data, to proxy for the economy's information structure. Second, we introduce a new measure of conglomerate informational advantage, named excess centrality, which captures how much more central conglomerates are relative to specialized firms operati...
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作者：Goh, Khim-Yong; Hui, Kai-Lung; Png, Ivan P. L.
作者单位：National University of Singapore; Hong Kong University of Science & Technology; National University of Singapore
摘要：If not well targeted, advertising and direct marketing inflict nuisance and inconvenience on consumers. Theoretical analyses predict that consumer actions to avoid advertising impose externalities on other consumers. We investigate the extent of such externalities in the context of the U.S. Do Not Call (DNC) registry by exploiting the exogenous timing of the enforcement of the registry. Supported by multiple robustness tests, and validation and falsification exercises, we conclude that consume...
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作者：Goldfarb, Avi; Tucker, Catherine E.
作者单位：University of Toronto; Massachusetts Institute of Technology (MIT)
摘要：The technological transformation and automation of digital content delivery has revolutionized the media industry. Increased reliance on automation has also led to requirements for standardization of content-delivery formats. This paper examines how the memorability of banner advertising changed with the introduction of new standards regularizing its format. Using data from randomized field tests, we find evidence that for most ads, ad effectiveness falls as the use of standard formats rises. ...
