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作者：Van den Steen, Eric
作者单位：Harvard University
摘要：This paper derives two mechanisms through which Bayesian-rational individuals with differing priors will tend to be relatively overconfident about their estimates and predictions, in the sense of overestimating the precision of these estimates. The intuition behind one mechanism is slightly ironic: In trying to update optimally, Bayesian agents overweight information of which they overestimate the precision and underweight in the opposite case. This causes overall an overestimation of the prec...
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作者：Shang, Weixin; Liu, Liming
作者单位：Fudan University; Hong Kong Polytechnic University
摘要：We investigate firms' competitive behaviors in industries where customers are sensitive to both promised delivery time (PDT) and quality of service (QoS) measured by the on-time delivery rate. To study the competition in PDT at the marketing level, we construct an oligopoly game with an external QoS requirement. We show that there exists a unique Nash equilibrium, and the equilibrium QoS exhibits a switching surface structure with respect to capacities. To study the competition in capacity at ...
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作者：Bengtsson, Ola
作者单位：University of Illinois System; University of Illinois Urbana-Champaign
摘要：This paper studies how covenants are included in contracts between venture capitalists (VCs) and entrepreneurs. I show that VCs hold covenanted veto rights even though they are shareholders who have access to other powerful governance solutions. Unlike bank loans and bonds, venture capital (VC) contracts exhibit considerable variation in their contractual designs. I exploit this variation to confirm the argument that covenants are in place to overcome a conflict of interest that arises from de...
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作者：Ghose, Anindya; Han, Sang Pil
作者单位：New York University
摘要：We quantify how user mobile Internet usage relates to unique characteristics of the mobile Internet. In particular, we focus on examining how the mobile-phone-based content generation behavior of users relates to content usage behavior. The key objective is to analyze whether there is a positive or negative interdependence between the two activities. We use a unique panel data set that consists of individual-level mobile Internet usage data that encompass individual multimedia content generati...
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作者：Martinez-de-Albeniz, Victor; Talluri, Kalyan
作者单位：University of Navarra; IESE Business School; ICREA; Pompeu Fabra University
摘要：In this paper, we study price competition for an oligopoly in a dynamic setting, where each of the sellers has a fixed number of units available for sale over a fixed number of periods. Demand is stochastic, and depending on how it evolves, sellers may change their prices at any time. This reflects the fact that firms constantly, and almost costlessly, change their prices, reacting to updates in their estimates of market demand, competitor prices, or inventory levels. In a setting with demand ...
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作者：Bakshi, Nitin; Flynn, Stephen E.; Gans, Noah
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作者：Chava, Sudheer; Stefanescu, Catalina; Turnbull, Stuart
作者单位：University System of Georgia; Georgia Institute of Technology; European School of Management & Technology; University of Houston System; University of Houston
摘要：In this paper, we focus on modeling and predicting the loss distribution for credit risky assets such as bonds and loans. We model the probability of default and the recovery rate given default based on shared covariates. We develop a new class of default models that explicitly accounts for sector specific and regime dependent unobservable heterogeneity in firm characteristics. Based on the analysis of a large default and recovery data set over the horizon 1980-2008, we document that the speci...
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作者：Dahl, Michael S.
作者单位：Aalborg University
摘要：This article analyzes the relationship between organizational change and employee health. It illuminates the potentially negative outcomes of change at the level of the employee. In addition, it relates to the ongoing debate over how employees react to and respond to organizational change. I hypothesize that change increases the risk of negative stress, and I test this hypothesis using a comprehensive panel data set of all stress-related medicine prescriptions for 92,860 employees working in 1...
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作者：Anand, Krishnan S.; Pac, M. Fazil; Veeraraghavan, Senthil
作者单位：Utah System of Higher Education; University of Utah; University of Pennsylvania
摘要：In many services, the quality or value provided by the service increases with the time the service provider spends with the customer. However, longer service times also result in longer waits for customers. We term such services, in which the interaction between quality and speed is critical, as customer-intensive services. In a queueing framework, we parameterize the degree of customer intensity of the service. The service speed chosen by the service provider affects the quality of the servic...
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作者：Salo, Ahti; Punkka, Antti
作者单位：Aalto University
摘要：We develop comparative results for ratio-based efficiency analysis (REA) based on the decision-making units' (DMUs') relative efficiencies over sets of feasible weights that characterize preferences for input and output variables. Specifically, we determine (i) ranking intervals, which indicate the best and worst efficiency rankings that a DMU can attain relative to other DMUs; (ii) dominance relations, which show what other DMUs a given DMU dominates in pairwise efficiency comparisons; and (i...
