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作者：Arlotto, Alessandro; Chick, Stephen E.; Gans, Noah
作者单位：Duke University; INSEAD Business School; University of Pennsylvania
摘要：We study the hiring and retention of heterogeneous workers who learn over time. We show that the problem can be analyzed as an infinite-armed bandit with switching costs, and we apply results from Bergemann and Valimaki [Bergemann D, Valimaki J (2001) Stationary multi-choice bandit problems. J. Econom. Dynam. Control 25(10): 1585-1594] to characterize the optimal hiring and retention policy. For problems with Gaussian data, we develop approximations that allow the efficient implementation of t...
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作者：Balseiro, Santiago R.; Feldman, Jon; Mirrokni, Vahab; Muthukrishnan, S.
作者单位：Duke University; Alphabet Inc.; Google Incorporated
摘要：It is clear from the growing role of ad exchanges in the real-time sale of advertising slots that Web publishers are considering a new alternative to their more traditional reservation-based ad contracts. To make this choice, the publisher must trade off, in real-time, the short-term revenue from ad exchange with the long-term benefits of delivering good spots to the reservation ads. In this paper we formalize this combined optimization problem as a multiobjective stochastic control problem an...
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作者：Eccles, Robert G.; Ioannou, Ioannis; Serafeim, George
作者单位：Harvard University; University of London; London Business School
摘要：We investigate the effect of corporate sustainability on organizational processes and performance. Using a matched sample of 180 U. S. companies, we find that corporations that voluntarily adopted sustainability policies by 1993-termed as high sustainability companies-exhibit by 2009 distinct organizational processes compared to a matched sample of companies that adopted almost none of these policies-termed as low sustainability companies. The boards of directors of high sustainability compani...
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作者：Pownall, Grace; Vulcheva, Maria; Wang, Xue
作者单位：Emory University; State University System of Florida; Florida International University; University System of Ohio; Ohio State University
摘要：This paper examines the effects on equity home bias of two mechanisms adopted by Euronext when it was formed by the merger of four European countries' stock exchanges in 2002. The two structural mechanisms are the integration of trading platforms across the four predecessor exchanges and the creation of named segments of the integrated exchange on which firms could voluntarily list by precommitting to enhanced disclosure and transparency. Employing a difference-in-differences research design u...
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作者：Zhang, Minjiao; Kucukyavuz, Simge; Goel, Saumya
作者单位：University System of Ohio; Ohio State University
摘要：In this paper, we consider a finite-horizon stochastic mixed-integer program involving dynamic decisions under a constraint on the overall performance or reliability of the system. We formulate this problem as a multistage (dynamic) chance-constrained program, whose deterministic equivalent is a large-scale mixed-integer program. We study the structure of the formulation and develop a branch-and-cut method for its solution. We illustrate the efficacy of the proposed model and method on a dynam...
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作者：Stidsen, Thomas; Andersen, Kim Allan; Dammann, Bernd
作者单位：Technical University of Denmark; Aarhus University; Technical University of Denmark
摘要：Most real-world optimization problems are multiobjective by nature, involving noncomparable objectives. Many of these problems can be formulated in terms of a set of linear objective functions that should be simultaneously optimized over a class of linear constraints. Often there is the complicating factor that some of the variables are required to be integral. The resulting class of problems is named multiobjective mixed integer programming (MOMIP) problems. Solving these kinds of optimizatio...
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作者：Singleton, Kenneth J.
作者单位：Stanford University
摘要：This paper explores the impact of investor flows and financial market conditions on returns in crude oil futures markets. I argue that informational frictions and the associated speculative activity may induce prices to drift away from fundamental values, and may result in price booms and busts. Particular attention is given to the interplay between imperfect information about real economic activity, including supply, demand, and inventory accumulation, and speculative activity in oil markets....
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作者：Dai, Hengchen; Milkman, Katherine L.; Riis, Jason
作者单位：University of Pennsylvania
摘要：The popularity of New Year's resolutions suggests that people are more likely to tackle their goals immediately following salient temporal landmarks. If true, this little-researched phenomenon has the potential to help people overcome important willpower problems that often limit goal attainment. Across three archival field studies, we provide evidence of a fresh start effect. We show that Google searches for the term diet (Study 1), gym visits (Study 2), and commitments to pursue goals (Study...
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作者：Chava, Sudheer
作者单位：University System of Georgia; Georgia Institute of Technology
摘要：I analyze the impact of a firm's environmental profile on its cost of equity and debt capital. Using implied cost of capital derived from analysts' earnings estimates, I find that investors demand significantly higher expected returns on stocks excluded by environmental screens (such as hazardous chemical, substantial emissions, and climate change concerns) compared to firms without such environmental concerns. Lenders also charge a significantly higher interest rate on the bank loans issued t...
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作者：Harford, Jarrad; Kolasinski, Adam
作者单位：University of Washington; University of Washington Seattle; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：We test whether the well-documented high returns of private equity sponsors result from wealth transfers from other financial claimants and counterparties and from a focus on short-term profits at the expense of long-term value. Debt investors who finance buyouts, as well as buyers of private equity portfolio companies, represent the two potential sources of wealth transfers. However, we find that, on average, public companies benefit when they buy financial sponsors' portfolio companies, expe...
