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作者：Jin, Ginger Zhe; Luca, Michael; Martin, Daniel
作者单位：University System of Maryland; University of Maryland College Park; National Bureau of Economic Research; Harvard University; Northwestern University
摘要：We present evidence that unnecessarily complex disclosure can result from strategic incentives to shroud information. In our laboratory experiment, senders are required to report their private information truthfully but can choose how complex to make their reports. We find that senders use complex disclosure more than half the time. This obfuscation is profitable because receivers make systematic mistakes in assessing complex reports. Regression and structural analysis suggest that these mista...
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作者：van de Geer, Ruben; den Boer, Arnoud V.
作者单位：University of Amsterdam; University of Amsterdam
摘要：We consider price optimization under the finite-mixture logit model. This model assumes that customers belong to one of a number of customer segments, where each customer segment chooses according to a multinomial logit model with segment-specific parameters. We reformulate the corresponding price optimization problem and develop a novel characterization. Leveraging this new characterization, we construct an algorithm that obtains prices at which the revenue is guaranteed to be at least (1- ep...
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作者：Davis, Andrew M.; Huang, Rihuan; Thomas, Douglas J.
作者单位：Cornell University; University of Virginia
摘要：When multiple retailers hold inventory to satisfy random demand, retailer inventory-sharing strategies can potentially reduce the supply-demand mismatch and increase overall supply chain performance. In this paper, we experimentally investigate alternative inventory-sharing strategies in a two-tier supply chain with an upstream manufacturer and two downstream retailers. In one setting, retailers act as if they are centralized and use a single quantity to fulfill joint demand. In the other, ret...
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作者：Choi, Syngjoo; Kim, Jeongbin; Lee, Eungik; Lee, Jungmin
作者单位：Seoul National University (SNU); National University of Singapore; New York University
摘要：Probability weighting is a major concept for accommodating systematic departures from expected utility theory. We examine the relation between probability weighting and cognitive ability with two experiments: one recruiting subjects with a large variation in cognitive ability and the other using the within-subject manipulation of time constraints in lottery choices and cognitive tests. We find a significant association between likelihood insensitivity-the cognitive component of probability wei...
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作者：Fang, Limin
作者单位：University of British Columbia
摘要：This paper quantifies the effects of online review platforms on restaurant revenue and consumer welfare. Using a novel data set containing revenues and information from major online review platforms in Texas, I show that online review platforms help consumers learn about restaurant quality more quickly. The effects on learning show up in restaurant revenues. Specifically, doubling the review activity increases the revenue of a high-quality independent restaurant by 5%-19% and decreases that of...
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作者：Gil, Ricard; Kim, Myongjin; Zanarone, Giorgio
作者单位：Queens University - Canada; University of Oklahoma System; University of Oklahoma - Norman; Washington University (WUSTL); Universite Libre de Bruxelles
摘要：This paper studies how firms restructure their relational contracts in the face of permanent shocks to the value of their relationships. In the context of the U.S. airline industry, we argue that major carriers enter self-enforcing agreements with their out sourced regional partners because a key aspect of airline operations-the exchange of landing slots under adverse weather-is formally noncontractible. We show empirically that major and regional airlines did not terminate their relational co...
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作者：Johari, Ramesh; Li, Hannah; Liskovich, Inessa; Weintraub, Gabriel Y.
作者单位：Stanford University; Airbnb; Stanford University
摘要：We develop an analytical framework to study experimental design in two-sided marketplaces. Many of these experiments exhibit interference, where an intervention applied to one market participant influences the behavior of another participant. This interference leads to biased estimates of the treatment effect of the intervention. We develop a stochastic market model and associated mean field limit to capture dynamics in such experiments and use our model to investigate how the performance of d...
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作者：Cui, Yao; Davis, Andrew M.
作者单位：Cornell University
摘要：The growth of sharing economy marketplaces like Airbnb has generated discussions on their socioeconomic impact and lack of regulation. As a result, most major cities in the United States have started to collect an occupancy tax for Airbnb bookings. In this study, we investigate the heterogeneous treatment effects of the occupancy tax policy on Airbnb listings, using a combination of a generalized causal forest methodology and a difference-in-differences framework. While we find that the introd...
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作者：Simchi-Levi, David
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：This article may be used only for the purposes of research, teaching, and/or private study. Commercial use or systematic downloading (by robots or other automatic processes) is prohibited without explicit Publisher The Publisher does not warrant or guarantee the article's accuracy, completeness, merchantability, fitness inclusion of an advertisement in this article, neither constitutes nor implies a guarantee, endorsement, or
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作者：Hwang, Chuan Yang; Titman, Sheridan; Wang, Ying
作者单位：National Taiwan University; Nanyang Technological University; University of Texas System; University of Texas Austin; Central University of Finance & Economics
摘要：We classify institutions into socially responsible investors (SRI) and not socially responsible investors using the value weighted corporate social responsibility (CSR) scores of their portfolio holdings. We find that firms that exhibit increases in SRI ownership tend to increase future CSR scores. Our analysis of stock price responses to the revelation of SRI ownership changes indicates that the revelation of higher SRI ownership is associated with negative stock returns. These effects are pa...
