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作者：Gino, Francesca; Krupka, Erin L.; Weber, Roberto A.
作者单位：Harvard University; University of Michigan System; University of Michigan; University of Zurich
摘要：Although monitoring and regulation can be used to combat socially costly unethical conduct, their intended targets can often avoid regulation or hide their behavior. This surrenders at least part of the effectiveness of regulatory policies to firms' and individuals' decisions to voluntarily submit to regulation. We study individuals' decisions to avoid monitoring or regulation and thus enhance their ability to engage in unethical conduct. We conduct a laboratory experiment in which participant...
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作者：Lu, Yina; Musalem, Andres; Olivares, Marcelo; Schilkrut, Ariel
作者单位：Columbia University; Duke University; Universidad de Chile
摘要：We conduct an empirical study to analyze how waiting in queue in the context of a retail store affects customers' purchasing behavior. Our methodology combines a novel data set with periodic information about the queuing system (collected via video recognition technology) with point-of-sales data. We find that waiting in queue has a nonlinear impact on purchase incidence and that customers appear to focus mostly on the length of the queue, without adjusting enough for the speed at which the li...
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作者：Li, Xinxin; Gu, Bin; Liu, Hongju
作者单位：University of Connecticut; Arizona State University; Arizona State University-Tempe; University of Connecticut
摘要：In this paper, we develop a theoretical model to analyze the pricing strategies of competing retailers with asymmetric cross-selling capabilities when product demand changes. Our results suggest that retailers with better opportunities for cross-selling have higher incentives to adopt loss-leader pricing on high-demand products than retailers with low cross-selling capabilities. As a result, price dispersion of a product across retailers rises when its demand increases. The predictions of our ...
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作者：Agarwal, Rajshree; Ohyama, Atsushi
作者单位：University System of Maryland; University of Maryland College Park; Hokkaido University
摘要：We extend life cycle models of human capital investments by incorporating matching theory to examine the sorting pattern of heterogeneous scientists into different career trajectories. We link differences in physical capital investments and complementarities between basic and applied scientists across industry and academic settings to individual differences in scientist ability and preferences to predict an equilibrium matching of scientists to careers and to their earnings evolution. Our empi...
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作者：Shulman, Jeffrey D.; Geng, Xianjun
作者单位：University of Washington; University of Washington Seattle; University of Texas System; University of Texas Dallas
摘要：This paper uses an analytical model to examine the consequences of add-on pricing when firms are both horizontally and vertically differentiated and there is a segment of boundedly rational consumers who are unaware of the add-on fees at the time of initial purchase. We find that consumers who know the add-on fees can be penalized-and increasingly so-by the existence of boundedly rational consumers. Our consideration of quality asymmetries on base goods and add-ons, plus the inclusion of bound...
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作者：Louis, Henock; Sun, Amy X.; Urcan, Oktay
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Houston System; University of Houston; University of London; London Business School
摘要：Analysts deviate from management guidance to correct for perceived earnings management. Although the deviations reduce forecast accuracy, they improve forecast informativeness, bringing the forecasts closer to the unmanaged earnings and reducing accruals mispricing. An implicit assumption in the literature is that more accurate analyst forecasts (i.e., estimates that are closer to the reported earnings) are better for investors, and that analysts' objective is to forecast the reported (managed...
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作者：Chen, Chen; Iyengar, Garud; Moallemi, Ciamac C.
作者单位：Columbia University; Columbia University
摘要：Systemic risk refers to the risk of collapse of an entire complex system as a result of the actions taken by the individual component entities or agents that comprise the system. Systemic risk is an issue of great concern in modern financial markets as well as, more broadly, in the management of complex business and engineering systems. We propose an axiomatic framework for the measurement and management of systemic risk based on the simultaneous analysis of outcomes across agents in the syste...
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作者：Bolton, Gary; Greiner, Ben; Ockenfels, Axel
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of Texas System; University of Texas Dallas; University of New South Wales Sydney; University of Cologne
摘要：Reciprocity in feedback giving distorts the production and content of reputation information in a market, hampering trust and trade efficiency. Guided by feedback patterns observed on eBay and other platforms, we run laboratory experiments to investigate how reciprocity can be managed by changes in the way feedback information flows through the system, leading to more accurate reputation information, more trust, and more efficient trade. We discuss the implications for theory building and for ...
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作者：Ho, Teck-Hua; Su, Xuanming
作者单位：National University of Singapore; University of California System; University of California Berkeley; University of Pennsylvania
摘要：Backward induction is a widely accepted principle for predicting behavior in sequential games. In the classic example of the centipede game, however, players frequently violate this principle. An alternative is a dynamic level-k model, where players choose a rule from a rule hierarchy. The rule hierarchy is iteratively defined such that the level-k rule is a best response to the level-(k - 1) rule, and the level-infinity rule corresponds to backward induction. Players choose rules based on the...
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作者：Gerakos, Joseph J.; Piotroski, Joseph D.; Srinivasan, Suraj
作者单位：University of Chicago; Stanford University; Harvard University
摘要：This paper examines how different types of interactions with U.S. markets by non-U.S. firms are associated 1 with higher levels of CEO pay, greater emphasis on incentive-based compensation, and smaller pay gaps with U.S. firms. Using a sample of CEOs of UK firms and using both broad cross-sectional and narrow event-window tests, we find that capital market relationship in the form of a U.S. exchange listing is related to higher UK CEO pay; however, the effect is similar when UK firms have a li...
