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作者：Li, Xinyu; Schnedler, Wendelin
作者单位：University of Paderborn
摘要：Teams are formed because input from different people is needed. Providing incentives to team members, however, can be difficult. According to received wisdom, declaring all members responsible fails because real responsibility for team output diffuses. But why? Also, why and when does formally declaring one member responsible mean that this member can be attributed real responsibility? We offer a model that answers these questions. We identify when jointly declaring a team responsible results ...
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作者：Demirci, Ozge; Hannane, Jonas; Zhu, Xinrong
作者单位：Imperial College London; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; Technical University of Berlin
摘要：This paper studies the impact of generative artificial intelligence (AI) technologies on the demand for online freelancers using a large data set from a leading global freelancing platform. We identify the types of jobs that are more affected by generative AI and quantify the magnitude of the heterogeneous impact. Our findings indicate a 21% decrease in the number of job posts for automation-prone jobs related to writing and coding compared with jobs requiring manual-intensive skills within ei...
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作者：Majumdar, Mayukh; Kumar, Subodha; Sriskandarajah, Chelliah
作者单位：University of San Diego; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; Texas A&M University System; Texas A&M University College Station; Mays Business School
摘要：Social media platforms are popular for advertisers to promote products to their audience via posts. Developing these posts with the appropriate number of image features is essential as these features enhance informativeness and visual complexity, impacting how users engage with posts. However, the existing literature offers a limited investigation into this topic, primarily examining low-level imagery information while overlooking high-level image features, cross-platform differences arising f...
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作者：Deng, Mingcherng; Li, Jing; Zhou, Nan
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); University of Hong Kong; University System of Ohio; University of Cincinnati
摘要：We model auditor switching through a tender process involving an incumbent auditor, who has private information about the client firm's audit cost (driven by audit complexity or audit risk), and an uninformed prospective auditor. When a firm's audit cost is high, the auditor is more susceptible to audit failure by erroneously attesting to the firm's favorable report. We show that, in equilibrium, the client facing a high audit cost is more likely to switch to a prospective auditor because of t...
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作者：Kakhbod, Ali; Livdan, Dmitry; Reppen, Max; Umar, Tarik
作者单位：University of California Berkeley; University of California System; University of California Berkeley; Boston University; Rice University
摘要：Recession risk fluctuates substantially before the storm, yet little is known about how firms of different sizes adapt their policies accordingly. We embed timevarying recession risk into a model of liquidity management and investment, allowing firms to time their precautionary policies. Estimation reveals that small firms are less sensitive than large firms in their issuance, payout, and investment strategies to variations in recession risk. This is because small firms proactively build large...
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作者：Bai, Bing; Chan, Tat Y.; Zhang, Dennis J.; Zhang, Fuqiang; Chen, Yujie; Hu, Haoyuan
作者单位：McGill University; Washington University (WUSTL)
摘要：Shipping experience improvement has been an essential business strategy in e-commerce. Beyond investing directly in improving shipping speed, online retailers have recently expanded their focus on other shipping strategies, such as offering consumers the option to pick up orders at a local station. This paper uses the opening of hundreds of such pickup stations as a natural experiment to study the impact of these stations on consumers. We find that the introduction of pickup stations increased...
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作者：Chen, Xinyun; Shi, Pengyi; Pu, Shanwen
作者单位：The Chinese University of Hong Kong, Shenzhen; Purdue University System; Purdue University; Shanghai University of Finance & Economics
摘要：Motivated by the emerging needs of tailored intervention for heterogeneous populations in preventative healthcare applications, we consider a multistage, dynamic decision-making problem in the online setting with unknown model parameters. To deal with the pervasive issue of small sample size in parameter estimation, we develop a novel data-pooling reinforcement learning (RL) algorithm that adaptively pools historical data, with three main innovations: (i) the weight of pooling is directly tied...
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作者：Ata, Baris; Kasikaralar, Ebru
作者单位：University of Chicago
摘要：We consider a multiclass queueing model of a telephone call center in which a system manager dynamically allocates available servers to customer calls. Calls can terminate through either service completion or customer abandonment, and the manager strives to minimize the expected total of holding costs plus abandonment costs over a finite horizon. Focusing on the Halfin-Whitt heavy traffic regime, we derive an approximating diffusion control problem and, building on earlier work by Beck et al. ...
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作者：Mao, Tiantian; Wang, Ruodu; Wu, Qinyu
作者单位：Chinese Academy of Sciences; University of Science & Technology of China, CAS; University of Waterloo
摘要：We introduce a new approach for prudent risk evaluation based on stochastic dominance, and it is called the model aggregation (MA) approach. In contrast to the classic worst case risk (WR) approach, the MA approach produces not only a robust value of risk evaluation but also a robust distributional model, independent of any specific risk measure. The MA risk evaluation can be computed through explicit formulas in the lattice theory of stochastic dominance, and under some standard assumptions, ...
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作者：Hasler, Michael; Khapko, Mariana; Marfe, Roberto
作者单位：University of Neuchatel; University of Toronto; University Toronto Scarborough; University of Toronto; University of Turin; Collegio Carlo Alberto; University of Turin
摘要：This paper studies the impact of information processing and learning about expected future cashflows on the level and timing of risk premiums in the cross section of firms. Learning with information sources of different qualities endogenously generates value firms, growth firms, and a value premium in equilibrium. Furthermore, the learning model predicts an upward-sloping equity term structure for value firms and a flat equity term structure for growth firms. Using earnings, return, and news d...
