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作者：Atir, Stav; Dunning, David
作者单位：University of Wisconsin System; University of Wisconsin Madison; University of Michigan System; University of Michigan
摘要：Education is a primary engine for gaining knowledge, yet it is unclear if introductory education helps learners gain meta-knowledge, that is, an accurate awareness of the scope and limits of their knowledge. We found that after taking an introductory finance class, relative to a control class, students overclaimed more knowledge they did not have, that is, endorsed more familiarity with bogus finance terms and expressed more confidence under incentives in their ability to answer questions abou...
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作者：Davis, Douglas; Cox, Caleb; Korenok, Oleg; Lightle, John
作者单位：Virginia Commonwealth University
摘要：Financial market regulators have long debated the appropriate frequency of mandatory corporate financial disclosures. Whereas frequent disclosures may help deter overinvestment, they may also encourage short-termism. This paper reports an experiment that examines the effects of varying reporting frequencies on managerial investment decisions. Experimental results indicate that frequent reporting modestly induces shorttermism, but it fails to reduce the overinvestment observed in the infrequent...
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作者：Evans, Richard B.; Karaka, Oguzhan; Moussawi, Rabih; Young, Michael
作者单位：University of Virginia; University of Cambridge; Villanova University; University of Pennsylvania; University of Missouri System; University of Missouri Columbia
摘要：The short-selling of exchange-traded funds (ETFs) creates phantom ETF shares, trading at market prices, with cash flow rights but no associated voting rights. Unlike regular ETF shares backed by underlying securities, which are voted as directed by the ETF sponsor, phantom ETF shares are typically hedged by the underlying basket as part of marketmaking activities and result in a significant number of sidelined votes of underlying securities. We find that increases in phantom shares for the cor...
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作者：Leitter, Zheng; Koonce, Lisa; White, Brian
作者单位：Nanyang Technological University; University of Texas System; University of Texas Austin; Cornell University
摘要：Disclosures about a business acquisition help investors understand what assets are acquired and how the acquiring company plans to benefit from the transaction. However, in practice, these disclosures exhibit significant variation and often fall short of providing meaningful information to investors. Our experiment provides evidence that separately identifying intangible assets acquired in a business combination (i.e., what was acquired) can compensate for shortcomings in an acquirer's disclos...
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作者：Shi, Qichao; Dearden, James A.; Lai, Ernest K.
作者单位：Southwestern University of Finance & Economics - China; Southwestern University of Finance & Economics - China; Lehigh University
摘要：We investigate the strategic interaction between a product expert and a consumer. The expert publicly commits to a ranking methodology to rank two products with uncertain relative merits; the consumer decides whether to acquire the ranking report to guide her product choice. The expert cares only about selling the report; the consumer derives utility from the product itself and an extra ranking attribute controlled by the expert. Strategic shuffling, in which the expert induces demand for his ...
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作者：Amil, Ayoub; Makhdoumi, Ali; Wei, Yehua
作者单位：Duke University
摘要：In this work, we revisit the multi-item order fulfillment model introduced by Jasin and Sinha (2015). Specifically, we study a dynamic setting in which an e-commerce platform (or online retailer) with multiple warehouses and finite inventory faces the problem of fulfilling orders that may contain multiple items. The platform's goal is to minimize the expected cost incurred from the fulfillment process, subject to warehouses' inventory constraints. Differing from the classical literature on mul...
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作者：Adena, Maja; Hager, Anselm
作者单位：Humboldt University of Berlin
摘要：Does online fundraising increase charitable giving? Using the Facebook advertising tool, we implemented a natural field experiment across Germany, randomly assigning almost 8,000 postal codes to Save the Children fundraising videos or to a pure control. We studied changes in the donation revenue and frequency for Save the Children and other charities by postal code. Our geo-randomized design circumvented many difficulties inherent in studies based on click-through data, especially substitution...
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作者：de Corniere, Alexandre; Mantovani, Andrea; Shekhar, Shiva
作者单位：Communaute d'universites et etablissements de Toulouse (Comue); Universite Toulouse 1 Capitole; Toulouse School of Economics; Tilburg University
摘要：We investigate the welfare effects of third-degree price discrimination by a two-sided platform that enables interaction between buyers and sellers. Sellers are heterogeneous with respect to their per-interaction benefit, and, under price discrimination, the platform can condition its fee on sellers' type. In a model with linear demand on each side, we show that price discrimination (i) increases participation on both sides, (ii) enhances total welfare, and (iii) may result in a strict Pareto ...
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作者：Grabner, Isabella; Kunneka, Judith; Moers, Frank
作者单位：Tilburg University; Maastricht University
摘要：In this study, we leverage the transformation of a performance management system that shifts from only providing a performance rating to also providing an explicit assessment of potential. Although performance measures enable organizations to evaluate an employee's past performance, they provide limited information regarding the employee's potential to perform in a prospective job that requires a different skill set. Consequently, firms are gradually moving toward the incorporation of explicit...
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作者：Thomas, Michael; Goic, Marcel; Kalyanam, Kirthi
作者单位：University of Missouri System; University of Missouri Columbia; Universidad de Chile; Santa Clara University
摘要：Using a multiyear experiment, we show that advertising to businesses can generate very different responses than has been observed for consumers. First, we estimate larger advertising returns than typically found for consumers: a return on ad spend of 12.0 (95% CI: 4.8-24.5). Second, we estimate longer lags between ad delivery and purchase: 1-5 months for first-time purchases and 5-12 months or longer for repeat purchases. Third, we find that existing business customers are responsible for most...
