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作者：Fuster, Andreas; Meier, Stephan
作者单位：Harvard University; Federal Reserve System - USA; Federal Reserve Bank - Boston; Columbia University
摘要：Monetary incentives, such as subsidies or bonuses, are often considered as a way to foster contributions to public goods in society and firms. This paper investigates experimentally the effect of private contribution incentives in the presence of a norm enforcement mechanism. Norm enforcement through peer punishment has been shown to be effective in raising contributions by itself. We test whether and how (centrally provided) private incentives interact with (decentralized) punishment, both of...
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作者：Liu, Yu-Jane; Tsai, Chih-Ling; Wang, Ming-Chun; Zhu, Ning
作者单位：Peking University; University of California System; University of California Davis; National Kaohsiung University of Science & Technology
摘要：We use a data set from market participants in the Taiwan Stock Exchange Capitalization Weighted Stock Index options markets to demonstrate a strong positive relationship between prior trading outcomes and subsequent risk taking. In particular, investors in this market take above-average risks in afternoon trading after morning gains. The phenomenon is prevalent in all three types of market makers' accounts and across different types of market participants. Our findings are consistent with the ...
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作者：Folta, Timothy B.; Delmar, Frederic; Wennberg, Karl
作者单位：Purdue University System; Purdue University; emlyon business school; Research Institute of Industrial Economics (IFN); Imperial College London; Stockholm School of Economics
摘要：In contrast to previous efforts to model an individual's movement from wage work into entrepreneurship, we consider that individuals might transition incrementally by retaining their wage job while entering into self-employment. We show that these hybrid entrepreneurs represent a significant share of all entrepreneurial activity. Theoretical arguments are proposed to suggest why hybrid entrants are distinct from self-employment entrants, and why hybrid entry may facilitate subsequent entry int...
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作者：Ramalingam, Abhijit; Rauh, Michael T.
作者单位：University of East Anglia; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：Why do firms exist? What is their function? What do managers do? What is the role, if any, of social motivation in the market? In this paper, we address these questions with a new theory of the firm, which unites some major themes in management, principal-agent theory, and economic sociology. We show that although the market is a superior incentive mechanism, the firm has a comparative advantage with respect to social motivation. We then show that the market is efficient in environments that f...
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作者：Bassamboo, Achal; Randhawa, Ramandeep S.; Zeevi, Assaf
作者单位：Northwestern University; University of Southern California; Columbia University
摘要：We study a capacity sizing problem in a service system that is modeled as a single-class queue with multiple servers and where customers may renege while waiting for service. A salient feature of the model is that the mean arrival rate of work is random (in practice this is a typical consequence of forecasting errors). The paper elucidates the impact of uncertainty on the nature of capacity prescriptions, and relates these to well established rules-of-thumb such as the square-root safety staff...
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作者：Kuruzovich, Jason; Viswanathan, Siva; Agarwal, Ritu
作者单位：Rensselaer Polytechnic Institute; University System of Maryland; University of Maryland College Park
摘要：It has become widely accepted that information technology (IT) has had a profound influence on market transactions, with lower search costs for buyers often considered the key to lower prices and higher consumer welfare. However, sellers also use online channels to search for buyers whose product preferences and valuations match the sellers' offerings, and limited research has examined the impact of IT on sellers' search strategies or associated market outcomes. In this study, we investigate h...
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作者：Chen, Frank Youhua; Yano, Candace Arai
作者单位：Chinese University of Hong Kong; University of California System; University of California Berkeley; University of California System; University of California Berkeley
摘要：We consider a manufacturer-retailer supply chain for a seasonal product whose demand is weather sensitive. The retailer orders from the manufacturer (supplier) prior to the selling season and then sells to the market. We examine how a manufacturer can structure a weather-linked rebate to improve his expected profit. The proposed class of rebate contracts offers several advantages over many other contract structures, including no required verification of leftover inventory and/or markdown amoun...
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作者：Attema, Arthur E.; Bleichrodt, Han; Rohde, Kirsten I. M.; Wakker, Peter P.
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：This paper introduces time-tradeoff (TTO) sequences as a general tool to analyze intertemporal choice. We give several applications. For empirical purposes, we can measure discount functions without requiring any measurement of or assumption about utility. We can quantitatively measure time inconsistencies and simplify their qualitative tests. TTO sequences can be administered and analyzed very easily, using only pencil and paper. For theoretical purposes, we use TTO sequences to axiomatize (q...
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作者：Gordy, Michael B.; Juneja, Sandeep
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Tata Institute of Fundamental Research (TIFR)
摘要：Risk measurement for derivative portfolios almost invariably calls for nested simulation. In the outer step, one draws realizations of all risk factors up to the horizon, and in the inner step, one reprices each instrument in the portfolio at the horizon conditional on the drawn risk factors. Practitioners may perceive the computational burden of such nested schemes to be unacceptable and adopt a variety of second-best pricing techniques to avoid the inner simulation. In this paper, we questio...
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作者：Lee, Deishin; Van den Steen, Eric
作者单位：Harvard University
摘要：We study how firms can use a knowledge management system to optimally leverage employee-generated know-how. In particular, we consider the following practical strategic questions for the manager of a knowledge-intensive firm: Should her firm develop a formal knowledge system? And if so, how should it be managed, particularly in terms of what information to record? We find that firms benefit more from a knowledge system when they are larger, face the same issues more frequently, have higher tur...
