-
作者：Bastani, Hamsa; Simchi-Levi, David; Zhu, Ruihao
作者单位：University of Pennsylvania; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Purdue University System; Purdue University
摘要：We study the problem of learning shared structure across a sequence of dynamic pricing experiments for related products. We consider a practical formulation in which the unknown demand parameters for each product come from an unknown distribution (prior) that is shared across products. We then propose a meta dynamic pricing algorithm that learns this prior online while solving a sequence of Thompson sampling pricing experiments (each with horizon T) for N different products. Our algorithm addr...
-
作者：Benjaafar, Saif; Jiang, Daniel; Li, Xiang; Li, Xiaobo
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh; Amazon.com; National University of Singapore
摘要：We consider a rental service with a fixed number of rental units distributed across multiple locations. The units are accessed by customers without prior reservation and on an on-demand basis. Customers can decide on how long to keep a unit and where to return it. Because of the randomness in demand and in returns, there is a need to periodically reposition inventory away from some locations and into others. In deciding on how much inventory to reposition and where, the system manager balances...
-
作者：Li, Xiaobo; Sun, Hailong; Teo, Chung Piaw
作者单位：National University of Singapore; National University of Singapore; National University of Singapore
摘要：We study the bundle size pricing (BSP) problem in which a monopolist sells bundles of products to customers and the price of each bundle depends only on the size (number of items) of the bundle. Although this pricing mechanism is attractive in practice, finding optimal bundle prices is difficult because it involves characterizing distributions of the maximum partial sums of order statistics. In this paper, we propose to solve the BSP problem under a discrete choice model using only the first a...
-
作者：Petracou, Electra V.; Xepapadeas, Anastasios; Yannacopoulos, Athanasios N.
作者单位：University of Aegean; Athens University of Economics & Business; University of Bologna; Athens University of Economics & Business; Athens University of Economics & Business
摘要：This paper contributes to the literature on decision making under multiple probability models by studying a class of variational preferences. These preferences are defined in terms of Frechet mean utility functionals, which are based on the Wasserstein metric in the space of probabilitymodels. In order to produce ameasure that is the closest to all probability models in the given set, we find the barycenter of the set. We derive explicit expressions for the Frechet-Wasserstein mean utility fun...
-
作者：Reme, Bjorn-Atle; Rohr, Helene Lie; Saethre, Morten
作者单位：Norwegian Institute of Public Health (NIPH); Kristiania University College; Norwegian School of Economics (NHH)
摘要：We study customer inattention by utilizing a notification about a future price change in the mobile subscription market. With detailed customer-level data from a large telecom operator, together with data on prices and contracts offered by competitors, we document that the notification causes an increase in customer attention, which triggers search, plan switching, and churn. In particular, we show that the monthly propensity to churn increases by 60% (from 1% to 1.6%) among customers whose co...
-
作者：Mondria, Jordi; Vives, Xavier; Yang, Liyan
作者单位：University of Toronto; University of Navarra; IESE Business School; University of Toronto; Peking University
摘要：We propose a model in which investors cannot costlessly process information from asset prices. At the trading stage, investors are boundedly rational, and their interpretation of prices injects noise into the price, generating a source of endogenous noise trading. Our setup predicts price momentum and yields excessive return volatility and excessive trading volume. In an overall equilibrium, investors optimally choose sophistication levels by balancing the benefit of beating the market against...
-
作者：Griffin, John M.; Liu, Clark; Shu, Tao
作者单位：University of Texas System; University of Texas Austin; Tsinghua University; The Chinese University of Hong Kong, Shenzhen
摘要：This paper examines whether the massive Chinese anticorruption campaign ensnares corrupt firms, contains a political component, and reduces corporate corruption. Consistent with the campaign's stated objectives, investigated executives are more likely to come from Chinese firms with characteristics commonly associated with measures of poor governance, self-dealing, and inefficiencies. However, affiliations with prominent investigated political leaders increase investigation likelihood, while u...
-
作者：Deng, Yipu; Zheng, Jinyang; Khern-Am-Nuai, Warut; Kannan, Karthik
作者单位：University of Hong Kong; Purdue University System; Purdue University; McGill University
摘要：We investigate an editorial review program for which a review platform supplements user reviews with editorial ones written by professional writers. Specifically, we examine whether and how editorial reviews influence subsequent user reviews (reviews written by noneditor reviewers). A quasiexperiment conducted on a leading review platform in Asia, based on several econometric and natural language processing techniques, yields empirical evidence of an overall positive effect of editorial review...
-
作者：Martinez-de-Albeniz, Victor; Kunnumkal, Sumit
作者单位：University of Navarra; IESE Business School; Indian School of Business (ISB)
摘要：Integrating inventory and assortment planning decisions is a challenging task that requires comparing the value of demand expansion through broader choice for consumers with the value of higher in-stock availability. We develop a stockout-based substitution model for trading off these values in a setting with inventory replenishment, a feature missing in the literature. Using the closed form solution for the single-product case, we develop an accurate approximation for the multiproduct case. T...
-
作者：Agca, Senay; Babich, Volodymyr; Birge, John R.; Wu, Jing
作者单位：George Washington University; George Washington University; University of Chicago; Chinese University of Hong Kong
摘要：Using a panel of credit default swap (CDS) spreads and supply chain links, we observe that both favorable and unfavorable credit shocks propagate through supply chains in the CDS market. Particularly, the three-day cumulative abnormal CDS spread change (CASC) is 63 basis points for firms whose customers experienced a CDS up-jump event (an adverse credit shock). The value is 74 basis points if their suppliers experienced a CDS up-jump event. The corresponding three-day CASC values are -36 and -...
