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作者：Lim, Jong Myeong; Moon, Ken; Savin, Sergei
作者单位：University of Miami; University of Pennsylvania
摘要：The Hospital Value-Based Purchasing (VBP) Program is Medicare's implementation of yardstick incentives applied to hospitals in the United States. Under the VBP Program, 2% of all Medicare payments to hospitals, estimated to be U.S. $1.9 billion in fiscal year 2021, are withheld and redistributed based on their relative performance in the quality of delivered care. We develop a dynamic mean-field equilibrium model in which hospitals are engaged in repeated competition under yardstick incentives...
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作者：Chen, Mingliu; Hu, Ming
作者单位：University of Texas System; University of Texas Dallas; University of Toronto
摘要：We study a courier dispatching problem in an on -demand delivery system in which customers are sensitive to delay. Specifically, we evaluate the effect of temporal pooling by comparing systems using the dedicated strategy, with which only one order is delivered per trip, versus the pooling strategy, with which a batch of consecutive orders is delivered on each trip. We capture the courier delivery system's spatial dimension by assuming that, following a Poisson process, demand arises at a unif...
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作者：Keppler, Samantha M.
作者单位：University of Michigan System; University of Michigan
摘要：In this paper, we explore an employee workaround widespread in K-12 schools: compensating for insufficient funding with partnerships to nonprofit organizations (NPOs). We take an equity perspective and ask the following questions. (i) How do partnering workarounds differ across schools with different levels of socioeconomic advantage? (ii) What can education and NPO leaders do to ensure these workarounds do not exacerbate educational inequities? To answer these questions, we use Little's Law: ...
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作者：Kircher, Tobias; Foerderer, Jens
作者单位：Technical University of Munich
摘要：On many multisided app platforms, the supply-side monetizes their work with targeted advertising. The targeting of ads has raised concerns over user privacy and has led to calls for platform firms and regulators to bar this practice. Important for this debate is to understand the consequences that a ban on targeted advertising would have for app development. To inform, we exploit that Google, in 2019, banned targeted advertising in Android children's games. This setting represents an ideal rea...
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作者：Cahn, Christophe; Girotti, Mattia; Salvade, Federica
作者单位：European Central Bank; Bank of France
摘要：This paper studies whether credit ratings can alleviate the hold-up problem in the loan market. We exploit a refinement of the rating information produced by a certifier that rates private bank-dependent firms in France on a vast scale. The refinement causes some firms to receive a positive rating surprise that is not due to an improvement in firm fundamentals. We show that affected firms become less reliant on lenders that have greater ability to extract informational rents. These firms recei...
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作者：Baldauf, Christoph; Eng-Larsson, Fredrik; Isaksson, Olov
作者单位：Stockholm University
摘要：One advantage of online retail is that a large number of products can be displayed at low cost. However, online retailers must decide which of these products to carry in inventory (stock items) and which to order from suppliers when a customer places an order (nonstock items). In this paper, we empirically investigate how carrying a product in inventory affects its online sales. We use data from a European furniture and interior design retailer consisting of daily sales transactions and invent...
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作者：Franke, Benedikt; Fritz, Qi Gao; Stenzel, Andre
作者单位：University of Wurzburg; University of Mannheim; Bank of Canada
摘要：We investigate the potential and limits of privacy-preserving corporate block -chain applications for information provision. We provide a theoretical model in which het-erogeneous firms choose between adopting a blockchain application or relying on traditional third-party intermediaries to inform the capital market. The blockchain's ability to generate information depends on each firm's data profile and all firms' endogenous adoption deci-sions. We show that blockchain technology can improve t...
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作者：Barton, F. Jane; Burnett, Brian M.; Gunny, Katherine; Miller, Brian P.
作者单位：City University of New York (CUNY) System; Baruch College (CUNY); University of North Carolina; University of North Carolina Charlotte; University of Colorado System; University of Colorado Denver; Indiana University System; Indiana University Bloomington; IU Kelley School of Business
摘要：This study demonstrates the importance of separating the probabilities of misstatement occurrence and detection when examining financial statement restatements. Despite the many benefits of examining the probability of restatements using traditional logistic models, interpretations of these models are clouded by partial observability-only subsequently detected misstatements are observable. We propose addressing this often overlooked issue by implementing a bivariate probit model with partial o...
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作者：Arefeva, Alina; Davis, Morris A.; Ghent, Andra C.; Park, Minseon
作者单位：University of Wisconsin System; University of Wisconsin Madison; Rutgers University System; Rutgers University New Brunswick; Utah System of Higher Education; University of Utah; University of Michigan System; University of Michigan
摘要：The Tax Cuts and Jobs Act of 2017 established a new program called Opportunity Zones (OZs) that reduces or eliminates capital gains taxes on investment in a limited number of low-income Census tracts. We provide a model illustrating how a change in capital taxation affects employment in existing and new establishments. We then use establishment-level data to show that, in its first two years, the OZ designation increased employment growth relative to comparable tracts by between 3.0 and 4.5 pe...
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作者：Bai, Yuanlu; Huang, Zhiyuan; Lam, Henry; Zhao, Ding
作者单位：Columbia University; Tongji University; Carnegie Mellon University
摘要：In rare-event simulation, an importance sampling (IS) estimator is regarded as efficient if its relative error, namely, the ratio between its standard deviation and mean, is sufficiently controlled. It is widely known that when a rare-event set contains multiple important regions encoded by the so-called dominating points, the IS needs to account for all of them via mixing to achieve efficiency. We argue that in typical experiments, missing less significant dominating points may not necessaril...
