Management Science

最新文章

• A Simple Incentive Mechanism to Alleviate the Burden of Organ Wastage in Transplantation AI翻译
  作者：Tunc, Sait; Sandikci, Burhaneddin; Tanriover, Bekir
  作者单位：Virginia Polytechnic Institute & State University; Istanbul Technical University; University of Arizona
  摘要：Despite efforts to increase the supply of donated organs for transplantation, organ shortages persist. We study the problem of organ wastage in a queueing-theoretic framework. We establish that self-interested individuals set their utilization levels more conservatively in equilibrium than the socially efficient level. To reduce the resulting gap, we offer an incentive mechanism that recompenses candidates returning to the waitlist for retransplantation, who have accepted a predefined set of o...
• Separated by a Common Language: How the Nature of Code Differences Shapes Communication Success and Code Convergence AI翻译
  作者：Kocak, Ozgecan; Puranam, Phanish
  作者单位：Emory University; INSEAD Business School
  摘要：Coordinated action within and beween organizations is easier when individuals share communication codes mappings between stimuli and labels. Because codes are specific to the groups within which they arise as conventions, collaboration across organizational units that have developed their own distinctive codes is often difficult. However, not all code differences are equal in their implications for communication difficulty and the capacity of individuals starting out with different codes to de...
• Valuation Uncertainty and Short-Sales Constraints: Evidence from the IPO Aftermarket AI翻译
  作者：Patatoukas, Panos N.; Sloan, Richard G.; Wang, Annika Yu
  作者单位：University of California System; University of California Berkeley; University of Southern California; University of Houston System; University of Houston
  摘要：We use the initial public offering (IPO) setting to provide evidence that the combination of valuation uncertainty and short-sales constraints generates significant equity market mispricing. The IPOs that we predict to be most susceptible to overpricing in the immediate aftermarket have first-day returns of +47% and lockup expiration returns of -9%. Our detailed analysis of securities lending market data confirms that these IPOs experience severe short-sales constraints that peak around the lo...
• Optimal Priority-Based Allocation Mechanisms AI翻译
  作者：Shi, Peng
  作者单位：University of Southern California
  摘要：This paper develops a tractable methodology for designing an optimal priority system for assigning agents to heterogeneous items while accounting for agents' choice behavior. The space of mechanisms being optimized includes deferred acceptance and top trading cycles as special cases. In contrast to previous literature, I treat the inputs to these mechanisms, namely the priority distribution of agents and quotas of items, as parameters to be optimized. The methodology is based on analyzing larg...
• Buyer's Bankruptcy Risk, Sourcing Strategy, and Firm Value: Evidence from the Supplier Protection Act AI翻译
  作者：Aral, Karca D.; Giambona, Erasmo; Wang, Ye
  作者单位：Syracuse University; University of International Business & Economics
  摘要：What should a distressed buyer???s sourcing strategy be? We find that this depends on the dynamics in a potential in-court bankruptcy. To establish causality, we use a novel sourcing data set in combination with a unique quasi-natural experimental setting provided by a regulatory shock that significantly strengthened the protection granted to suppliers when a distressed buyer files for bankruptcy: the Supplier Protection Act. We find that, following this regulatory change, the number of suppli...
• Postfundamentals Price Drift in Capital Markets: A Regression Regularization Perspective AI翻译
  作者：Avramov, Doron; Kaplanski, Guy; Subrahmanyam, Avanidhar
  作者单位：Reichman University; Bar Ilan University; University of California System; University of California Los Angeles
  摘要：Regression regularization techniques show that deviations of accounting fundamentals from their preceding moving averages forecast drifts in equity market prices. Deviations-based predictability survives a comprehensive set of prominent anomalies. The profitability applies strongly to the long leg and survives value weighting and excluding microcaps. We provide evidence that the predictability arises because investors anchor to recent means of fundamentals. A factor based on our fundamentals-b...
• From Noise to Bias: Overconfidence in New Product Forecasting AI翻译
  作者：Feiler, Daniel; Tong, Jordan
  作者单位：Dartmouth College; University of Wisconsin System; University of Wisconsin Madison
  摘要：We study decision behavior in the selection, forecasting, and production for a new product. In a stylized behavioral model and five experiments, we generate new insight into when and why this combination of tasks can lead to overconfidence (specifically, overestimating the demand). We theorize that cognitive limitations lead to noisy interpretations of signal information, which itself is noisy. Because people are statistically naive, they directly use their noisy interpretation of the signal i...
• Auctioning IT Contracts with Renegotiable Scope AI翻译
  作者：Huang, He; Li, Zhipeng; Liu, De; Xu, Hongyan
  作者单位：Chongqing University; Nanchang University; University of Minnesota System; University of Minnesota Twin Cities
  摘要：Motivated by challenges facing IT procurement, this paper studies a hybrid procurement model in which a reverse auction of a fixed-price IT outsourcing contract may be followed by renegotiation to extend the contract's scope. In this model, the buyer balances the needs to incentivize noncontractible vendor investment and to curb the winning vendor's information rent by choosing the initial project scope and the buyer's investment in the quality of the project. We find that a buyermay benefit f...
• Implied Ambiguity: Mean-Variance Inefficiency and Pricing Errors AI翻译
  作者：Hara, Chiaki; Honda, Toshiki
  作者单位：Kyoto University; Hitotsubashi University
  摘要：.we investigate the optimal portfolio choice problem for an investor who has autility function of the smooth ambiguity model. We identify necessary and sufficientconditions for a given portfolio to be optimal for such an investor. We define the impliedambiguity of a portfolio as the smallest ambiguity aversion coefficient with which theportfolio is optimal, and the measure of ambiguity perception as the part of the variabilityin asset returns that can be attributed to the ambiguity. We show th...
• An Inverse Optimization Approach to Measuring Clinical Concordance AI翻译
  作者：Chan, Timothy C. Y.; Eberg, Maria; Forster, Katharina; Holloway, Claire; Ieraci, Luciano; Shalaby, Yusuf; Yousefi, Nasrin
  作者单位：University of Toronto; University of Toronto
  摘要：Clinical pathways outline standardized processes in the delivery of care for a specific disease. Patient journeys through the healthcare system, however, can deviate substantially from these pathways. Given the positive benefits of clinical pathways, it is important to measure the concordance of patient pathways so that variations in health system performance or bottlenecks in the delivery of care can be detected, monitored, and acted upon. This paper proposes the first data-driven inverse opt...