-
作者：Dogan, Battal; Yildiz, Kemal
作者单位：University of Bristol; Ihsan Dogramaci Bilkent University
摘要：A choice rule with affirmative action decides on the recipients of a limited number of identical objects by reconciling two objectives: respecting a priority ordering over the applicants and supporting a minority group. We extend the standard formulation of a choice problem by incorporating a type function and a priority ordering and introduce monotonicity axioms on how a choice rule should respond to variations in these parameters. We show that monotonic and substitutable affirmative action r...
-
作者：Guo, Liang
作者单位：Chinese University of Hong Kong
摘要：Uncertainty may exist about the desirability of trade in bilateral bargaining. For instance, buyers may not know their value perfectly and sellers may not be fully aware of their cost structure. We endogenize the expected surplus of trade by considering information gathering before price negotiation between a seller and a buyer. We show that prebargaining information acquisition can reverse standard findings in canonical bargaining models, regarding how the bargaining primitives may influence ...
-
作者：Fornwagner, Helena; Pompeo, Monika; Serdarevic, Nina
作者单位：University of Regensburg; University of Exeter; University of Bologna
摘要：We extend the existing literature on gender differences in competitive behavior by investigating tournament entry choices when a principal decides for an agent. In a laboratory experiment, we randomly assign subjects the role of either principal or agent. The principal decides whether the agent performs a real-effort task under piece-rate or tournament incentives. When deciding, the principal is informed about the agent's previous performance, age, and residency. Between treatments, we vary wh...
-
作者：Cao, Jie; Goyal, Amit; Xiao, Xiao; Zhand, Xintong
作者单位：Hong Kong Polytechnic University; Swiss Finance Institute (SFI); City St Georges, University of London; Fudan University
摘要：Corporate bonds with large increases in implied volatility over the past month underperform those with large decreases in implied volatility by 0.6% per month. In contrast to existing studies that show implied volatility changes carry information about fundamental news, our evidence suggests that implied volatility changes contain information about uncertainty shocks to the firm. Our results are consistent with the notion that informed traders with new information about firm risk prefer to tra...
-
作者：Van Parys, Bart; Golrezaei, Negin
作者单位：Massachusetts Institute of Technology (MIT)
摘要：We study structured multiarmed bandits, which is the problem of online decision-making under uncertainty in the presence of structural information. In this problem, the decision-maker needs to discover the best course of action despite observing only uncertain rewards over time. The decision-maker is aware of certain convex structural information regarding the reward distributions; that is, the decision-maker knows that the reward distributions of the arms belong to a convex compact set. In th...
-
作者：Davis, Andrew M.; Flicker, Blair; Hyndman, Kyle; Katok, Elena; Keppler, Samantha; Leider, Stephen; Long, Xiaoyang; Tong, Jordan D.
作者单位：Cornell University; University of South Carolina System; University of South Carolina Columbia; University of Texas System; University of Texas Dallas; University of Michigan System; University of Michigan; University of Wisconsin System; University of Wisconsin Madison
摘要：Over the last two decades, researchers in operations management have increasingly leveraged laboratory experiments to identify key behavioral insights. These experiments inform behavioral theories of operations management, impacting domains including inventory, supply chain management, queuing, forecasting, and sourcing. Yet, until now, the replicability of most behavioral insights from these laboratory experiments has been untested. We remedy this with the first large-scale replication study ...
-
作者：Dalton, Patricio S.; Pamuk, Haki; Ramrattan, Ravindra; Uras, Burak; van Soest, Daan
作者单位：Tilburg University; Tilburg University; Wageningen University & Research
摘要：We conducted a randomized, controlled trial with small- and medium-sized enterprises in Kenya to estimate the causal impact of an electronic payment (e-payment) technology on business finance. Using an encouragement design, we exogenously increased e-payment usage among a random subset of firms by relaxing adoption transaction costs and information barriers. Sixteen months after the intervention, we find that the e-payment technology increased access to mobile loans (in the number of loans as ...
-
作者：Castilla, Emilio J.; Rho, Hye Jin
作者单位：Massachusetts Institute of Technology (MIT); Michigan State University
摘要：Gender segregation remains a significant problem in many occupations and organizations. To solve this problem, many U.S. employers now seek to craft gender-neutral job postings. In this article, we investigate whether such employer recruitment efforts are successful in encouraging women and men to apply equally for jobs. Specifically, we move beyond the well-studied effects of the gender typing of occupations, organizations, and industries to study the extent to which the recruiting language u...
-
作者：Olsder, Wendy; Martagan, Tugce; Tang, Christopher S.
作者单位：Eindhoven University of Technology; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; University of California System; University of California Los Angeles
摘要：There are more than 7,000 known rare diseases, but pharmaceutical manufacturers developed treatments for only 500 of them. To improve the availability and accessibility of treatments for rare diseases, governments have introduced several programs including subsidies, exogenous pricing, and outcome-based payment schemes in recent years. What kind of subsidy programs and pricing mechanisms can improve patient access? Inspired by various pilot programs, we present a multistage game theoretic mode...
-
作者：Dang, Viet Anh; Gao, Ning; Yu, Tiancheng
作者单位：University of Manchester; Alliance Manchester Business School; University of Exeter
摘要：We find that manufacturing firms adopt more conservative capital structures in response to the Nitrogen Oxides (NOx) Budget Trading Program (NBP) of 2004, a regional cap-and-trade program aimed at mitigating the NOx emissions of power plants in 11 mid western and southeastern states in the United States. Our further analysis demonstrates that, because the NBP induces an electricity price shock, it affects manufacturers' financial decisions by raising their operating leverage and distress risk....
