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作者：Simchi-Levi, David
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
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作者：Rohde, Kirsten I. M.; Yu, Xiao
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC; Vrije Universiteit Amsterdam
摘要：Decisions with risky consequences at multiple points in time are driven not only by risk attitudes and time preferences but also by attitudes toward intertemporal correlation (i.e., the correlation between outcomes at different points in time). This paper proposes a model-free method to measure degrees of intertemporal correlation aversion. We disentangle attitudes toward positive and negative intertemporal correlation, which can differ if expected intertemporal utility is violated. In an expe...
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作者：Flannery, Mark J.; Hong, Claire Yurong; Wang, Baolian
作者单位：State University System of Florida; University of Florida
摘要：Government bonds might provide reference entities that reduce corporate bond yields. We study China's 2017 issuance of two U.S. dollar (USD)-denominated sovereign bonds when there were (effectively) no outstanding USD sovereigns. We find that Chinese corporate USD bonds experienced a four- to nine-basis-point decline in yield spreads, whereas corporate renminbi (RMB) bonds did not. The effect was stronger for corporate bonds with maturities similar to those of the USD sovereigns. Further consi...
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作者：Kim, Dong Soo; Lee, Sanghak; Hur, Taegyu; Kim, Jaehwan; Allenby, Greg M.
作者单位：University System of Ohio; Ohio State University; Arizona State University; Arizona State University-Tempe; Iowa State University; Korea University
摘要：Consumers encounter costs and inconvenience in the purchase and consumption of goods. Time, effort, training, and expertise, also referred to as access costs, are examples of factors that constrain the ability of consumers to derive utility from offerings beyond the price of a good. Economies of scope exist when household production of these factors share commonalities among choice alternatives, making it more likely that some products would be purchased and consumed in conjunction with others...
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作者：Deore, Aishwarrya; Holzhacker, Martin; Krishnan, Ranjani
作者单位：Georgetown University; Michigan State University; Michigan State University's Broad College of Business
摘要：Quality disclosures regarding medical outcomes such as patient mortality are common healthcare policy instruments. Mixed evidence exists on whether quality disclosures improve outcomes for disclosed ailments. Moreover, disclosure policies can generate spillovers and impact ailments not targeted by the policy. We examine the effects of quality disclosure regulation on mortality improvements in disclosed and nondisclosed ailments. We use patient records for California hospitals for 1995-2014 and...
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作者：Kokkodis, Marios; Ipeirotis, Panagiotis G.
作者单位：New York University
摘要：Choosing job applicants to hire in online labor markets is hard. To identify the best applicant at hand, employers need to assess a heterogeneous population. Recommender systems can provide targeted job-applicant recommendations that help employers make better-informed and faster hiring choices. However, existing recommenders that rely on multiple user evaluations per recommended item (e.g., collaborative filtering) experience structural limitations in recommending job applicants: Because each...
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作者：Ajorlou, Amir; Jadbabaie, Ali
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：In this paper, we study a family of sales-based rebate mechanisms as an effective tool to implement price discrimination across a population of buyers with correlated heterogeneous valuations on indivisible goods and services. In order to implement such sales-based rebate mechanisms, the seller charges each buyer a fixed price at the time of purchase contingent on a rebate that is a function of the ex post sales volume to be realized at the end of the sales period. The seller declares both a p...
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作者：Elfenbein, Daniel W.; Fisman, Raymond; McManus, Brian
作者单位：Washington University (WUSTL); Boston University; University of North Carolina; University of North Carolina Chapel Hill
摘要：We use eBay data to investigate how within-U.S. trade is influenced by differences in socioeconomic characteristics. States' similarity in cultural characteristics (ethnicity, religious affiliations, and political behavior) predicts online trade; cultural similarity similarly predicts trade within product categories. The culture-trade relationship is stronger for transactions with sellers who lack extensive reputations or certification, suggesting that consumers infer seller trustworthiness fr...
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作者：Qi, Meng; Shi, Yuanyuan; Qi, Yongzhi; Ma, Chenxin; Yuan, Rong; Wu, Di; Shen, Zuo-Jun (Max)
作者单位：Cornell University; University of California System; University of California San Diego; University of California System; University of California Berkeley; University of Hong Kong; University of Hong Kong
摘要：We investigate a data-driven multiperiod inventory replenishment problem with uncertain demand and vendor lead time (VLT) with accessibility to a large quantity of historical data. Different from the traditional two-step predict-then-optimize (PTO) solution framework, we propose a one-step end-to-end (E2E) framework that uses deep learning models to output the suggested replenishment amount directly from input features without any intermediate step. The E2E model is trained to capture the beha...
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作者：Benzoni, Luca; Garlappi, Lorenzo; Goldstein, Robert
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; University of British Columbia; University of Minnesota System; University of Minnesota Twin Cities; National Bureau of Economic Research
摘要：We derive a firm's debt issuance policy when managers have an informational advantage over creditors and face debt restructuring costs. In our model, regardless of how poor their private signal is, managers of firms that can access the credit market avoid default by issuing new debt to service existing debt. Therefore, only bonds of firms that have exhausted their ability to borrow are subject to jump-to-default risk because of incomplete information and, in turn, command a jump-to-default ris...
