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作者：Wang, Yu; Haruvy, Ernan
作者单位：University of Texas System; University of Texas Dallas
摘要：The design of a matching market may affect behavior in prematch stages. In some settings, forward-looking agents might purchase low-priced properties with the intention of trading up. From a design standpoint, such behavior is undesirable. We investigate a tiered structure as a potential solution. Using a model that endogenizes prematch acquisition decisions, we show that tiers promote exchange while protecting the primary market. In the laboratory, we find that both firm revenue and total soc...
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作者：Baiman, Stanley; Heinle, Mirko S.; Saouma, Richard
作者单位：Bocconi University; University of Pennsylvania; University of California System; University of California Los Angeles
摘要：Capital budgeting frequently involves multiple stages at which firms can continue or abandon ongoing projects. In this paper, we study a project requiring two stages of investment. Failure to fund Stage 1 of the investment precludes investment in Stage 2, whereas failure to fund Stage 2 results in early termination. In contrast to the existing literature, we assume that the firm can limit the manager's informational rents with the early termination of the project. In this setting, we find that...
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作者：Bracha, Anat; Fershtman, Chaim
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Boston; Tel Aviv University; Centre for Economic Policy Research - UK; Tinbergen Institute
摘要：Almost all jobs require a combination of cognitive effort and labor effort. This paper focuses on the effect that competitive incentive schemes have on the chosen combination of these two types of efforts. We use an experimental approach to show that competitive incentives may induce agents to work harder but not necessarily smarter. This effect was stronger for women.
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作者：Kaufmann, Christine; Weber, Martin; Haisley, Emily
作者单位：University of Mannheim; Centre for Economic Policy Research - UK; Barclays
摘要：Financial professionals have a great deal of discretion concerning how to relay information about the risk of financial products to their clients. This paper introduces a new risk tool to communicate the risk of investment products, and it examines how different risk-presentation modes influence risk-taking behavior and investors' recall ability of the risk-return profile of financial products. We analyze four different ways of communicating risk: (i) numerical descriptions, (ii) experience sa...
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作者：Suarez, Fernando F.; Cusumano, Michael A.; Kahl, Steven J.
作者单位：Boston University; Massachusetts Institute of Technology (MIT); Dartmouth College
摘要：Some product firms increasingly rely on service revenues as part of their business models. One possible explanation is that they turn to services to generate additional profits when their product industries mature and product revenues and profits decline. We explore this assumption by examining the role of services in the financial performance of firms in the prepackaged software products industry (Standard Industrial Classification code 7372) from 1990 to 2006. We find a convex, nonlinear rel...
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作者：Hu, Ming; Shi, Mengze; Wu, Jiahua
作者单位：University of Toronto
摘要：This paper studies the design of group-buying mechanisms in a two-period game where cohorts of consumers I arrive at a deal and make sign-up decisions sequentially. A firm can adopt either a sequential mechanism where the firm discloses to second-period arrivals the number of sign-ups accumulated in the first period, or a simultaneous mechanism where the firm does not post the number of first-period sign-ups and hence each cohort of consumers faces uncertainty about another cohort's size and v...
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作者：Csaszar, Felipe A.; Eggers, J. P.
作者单位：University of Michigan System; University of Michigan; New York University
摘要：We study four information aggregation structures commonly used by organizations to evaluate opportunities: individual decision making, delegation to experts, majority voting, and averaging of opinions. Using a formal mathematical model, we investigate how the performance of each of these structures is contingent upon the breadth of knowledge within the firm and changes in the environment. Our model builds on work in the Carnegie tradition and in the group and behavioral decision-making literat...
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作者：Ater, Itai; Landsman, Vardit
作者单位：Tel Aviv University; Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：We study customers' adoption and subsequent switching decisions with regard to a menu of three-part tariff plans offered by a commercial bank. Using a rich panel data set covering 70,510 fee-based checking accounts over 30 months, before and after the introduction of the plans, we find that most customers adopt non-cost-minimizing plans, preferring plans with large monthly allowances and high fixed payments. Furthermore, after adoption, customers who exceed their allowances and consequently pa...
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作者：Feiler, Daniel C.; Tong, Jordan D.; Larrick, Richard P.
作者单位：Dartmouth College; University of Wisconsin System; University of Wisconsin Madison; Duke University
摘要：Some environments constrain the information that managers and decision makers can observe. We examine judgment in censored environments where a constraint, the censorship point, systematically distorts the observed sample. Random instances beyond the censorship point are observed at the censorship point, whereas uncensored instances are observed at their true value. Many important managerial decisions occur in censored environments, such as inventory, risk taking, and employee evaluation decis...
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作者：Toubia, Olivier; Johnson, Eric; Evgeniou, Theodoros; Delquie, Philippe
作者单位：Columbia University; INSEAD Business School; George Washington University
摘要：We present a method that dynamically designs elicitation questions for estimating risk and time preference parameters. Typically these parameters are elicited by presenting decision makers with a series of static choices between alternatives, gambles, or delayed payments. The proposed method dynamically (i.e., adaptively) designs such choices to optimize the information provided by each choice, while leveraging the distribution of the parameters across decision makers (heterogeneity) and captu...
