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作者：Reed, Adam, V; Saffi, Pedro A. C.; Van Wesep, Edward D.
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of Cambridge; University of Colorado System; University of Colorado Boulder
摘要：Disagreement about stock valuation, combined with short-sales constraints, can increase asset prices. We build a model showing that, so long as investor beliefs are not perfectly correlated, investors disagree less about the value of a conglomerate than about each of its individual divisions. This generates a conglomerate discount with disagreement and short-sales constraints being complementary in explaining its cross-sectional variation. We test these predictions empirically and find substan...
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作者：Lee, Dokyun; Hosanagar, Kartik
作者单位：Carnegie Mellon University; University of Pennsylvania
摘要：We investigate the moderating effect of product attributes and review ratings on views, conversion|views (conversion conditional on views), and final conversion of a purchase-based collaborative filtering recommender system on an e-commerce site. We run a randomized field experiment on a top retailer with 184,375 users split into a recommender-treated group and a control group. We tag theory-driven attributes of 37,125 unique products via Amazon Mechanical Turk to augment the usual product dat...
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作者：Chatterjee, Prabirendra; Zhou, Bo
作者单位：Cardiff University; University System of Maryland; University of Maryland College Park
摘要：Sponsored content advertising, also known as native advertising, is a new ad format in which a brand's content takes the same form and qualities of the publisher's original content. Although many advertisers have largely embraced this new advertising format, consumers seem to react negatively toward sponsored content ads. In this paper, we present an analytical model that studies the strategic role of sponsored content advertising in a two-sided media market. We identify conditions under which...
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作者：Fainmesser, Itay P.; Lauga, Dominique Olie; Ofek, Elie
作者单位：Johns Hopkins University; Johns Hopkins University; University of Cambridge; Harvard University
摘要：We study how user-generated content (UGC) about new products impacts a firm's advertising and pricing decisions and the effect on profits and market dynamics. We construct a two-period model where consumers value quality and are heterogeneous in their taste for the new product's positioning and examine three information-transfer structures across generations: no information (benchmark), average rating (AR), and the joint distribution of ratings and taste locations (reviews). First, we show tha...
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作者：Sunar, Nur; Swaminathan, Jayashankar M.
作者单位：University of North Carolina; University of North Carolina Chapel Hill
摘要：Electricity end-users have been increasingly generating their own electricity via rooftop solar panels. We study the impact of such distributed renewable energy (DRE) on utility profits and social welfare under net metering, which is a widespread policy in the United States. Utilities have been lobbying against net-metered distributed solar based on the common belief that it harms utility profits. We find that when wholesale market dynamics are considered, net-metered DRE may be a positive for...
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作者：Hopp, Wallace J.; Simchi-Levi, David
作者单位：University of Michigan System; University of Michigan; Massachusetts Institute of Technology (MIT)
摘要：This paper uses the 65th anniversary of Management Science as an opportunity to examine how well the journal has performed against its primary goal to promote development and encourage application of a science of management. We also highlight recent trends that are impacting this mission and discuss how recent initiatives address these issues.
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作者：Krieger, Joshua L.
作者单位：Harvard University
摘要：I analyze project continuation decisions where firms may resolve uncertainty through news about competitors' research and development (R&D) failures, as well as through their own results. I examine the tradeoffs and interactions between product market competition and technological learning from parallel R&D projects. Leveraging the biopharmaceutical industry's unique characteristics to overcome barriers to measuring project-level responses, I use a difference-in-differences strategy to evaluat...
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作者：Chen, Qi; Huang, Zeqiong; Jiang, Xu; Zhang, Gaoqing; Zhang, Yun
作者单位：Duke University; Tsinghua University; Yale University; University of Minnesota System; University of Minnesota Twin Cities; George Washington University
摘要：We examine the effects of asymmetric timeliness in reporting good versus bad news on price informativeness when prices provide useful information to assist firms' investment decisions. We find that a reporting system featuring more timely disclosure of bad news than of good news encourages speculators to trade on their private information. Consequently, it generates a higher expected investment level and firm value. Our analysis generates predictions consistent with empirical findings and prov...
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作者：Peura, Heikki; Bunn, Derek W.
作者单位：Imperial College London; University of London; London Business School
摘要：Increasing variable renewable power generation (e.g., wind) is expected to reduce wholesale electricity prices by virtue of its low marginal production cost. This merit-order effect of renewables displacing incumbent conventional (e.g., gas) generation forms the theoretical underpinning for investment decisions and policy in the power industry. This paper uses a game-theoretic market model to investigate how intermittently available wind generation affects electricity prices in the presence of...
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作者：Dawande, Milind; Feng, Zhichao; Janakiraman, Ganesh
作者单位：University of Texas System; University of Texas Dallas; Chinese Academy of Sciences; University of Science & Technology of China, CAS
摘要：Process capacity and the associated notions of bottleneck activities and bottleneck resources-which are responsible for limiting process capacity to its present value-are fundamental concepts in the operations management literature. However, for processes that involve collaboration and multitasking, there is little clarity in the literature on what bottlenecks are, what they look like, and how they can be identified. In this paper, we formulate and analyze graph-theoretic optimization problems...
