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作者：Lee, Hyun Seok (Huck); Lee, Junghee; Noh, In Joon; Staats, Bradley R.
作者单位：Korea University; University of Notre Dame; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：U.S. hospitals continue to face chronic shortages of essential drugs, jeopardizing patient care and driving up costs. Although prior work has identified the structural and economic drivers of these shortages, little is known about whether pharmaceutical plants accumulate operational knowledge from their recovery efforts-tasks that are often irregular and ill-defined. We assemble a unique data set linking 4,741 drug shortages (2015-2020) to 136 finished dosage form plants to examine whether-and...
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作者：Amornsiripanitch, Natee
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
摘要：This paper uses a large data set of single family home mortgage applications to study the relationship between borrower age and application outcomes. Conditional on a rich set of observable characteristics, age is positively correlated with rejection probability and coupon rate. The results hold for young borrowers, implying that age, not just old age, is an important determinant of mortgage application outcomes. Empirical tests that exploit COVID-19 suggest that the rejection probability resu...
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作者：Conti, Annamaria; Santal, Juan
作者单位：IE University
摘要：Multisided platforms crucially rely on indirect network effects. When trying to strengthen these effects, platform owners face a fundamental challenge, namely, designing incentives to enhance developer effort and simultaneously ensuring the release of highquality products on the platform. This paper highlights the costs associated with lowering royalty rates to boost developer effort, as such reductions increase the relative supply of lower-quality offerings, worsening information congestion p...
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作者：Campbell, John L.; Ham, Harrison; Lu, Zhongjin (Gene); Wood, Katherine
作者单位：University System of Georgia; University of Georgia; Clemson University; University System of Georgia; University of Georgia; Oklahoma State University System; Oklahoma State University - Stillwater
摘要：We comprehensively examine the usefulness of machine learning technology to predict a firm's earnings and offer three main findings. First, although prior literature suggests machine learning can offer better earnings forecasts than analysts, we show that this result is highly sensitive to machine learning model specification choices (i.e., 80% of evaluated machine forecasts fail to beat analysts). Second, we examine why the most accurate machine learning forecast consistently beats analysts, ...
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作者：Yan, Shuo; Li, Shaobo (Kevin); Houser, Daniel; Ge, Chunmian; Zhuo, Jiayi
作者单位：Zhejiang University; Southern University of Science & Technology; George Mason University; South China University of Technology; Macau University of Science and Technology
摘要：Using career history data from employees' online profiles, we provide empirical evidence regarding how human resources systems can affect the gender gap in job tenure. Our results indicate that female workers experience shorter average job tenure than male workers. Our results further show that abandoning forced ranking systems helps to narrow this gender gap. We present experimental evidence indicating that in forced ranking environments, women experience shorter tenure than men and are more ...
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作者：Castera, Remi; Loiseau, Patrick; Pradelski, Bary S. R.
作者单位：Centre National de la Recherche Scientifique (CNRS); Communaute Universite Grenoble Alpes; Universite Grenoble Alpes (UGA); Institut National Polytechnique de Grenoble; Mohammed VI Polytechnic University; University of Oxford; Centre National de la Recherche Scientifique (CNRS); University of Oxford
摘要：We study the role of correlation in matching markets, where multiple decision makers simultaneously face selection problems from the same pool of candidates. We propose a model in which a candidate's priority scores across different decision makers exhibit varying levels of correlation dependent on the candidate's sociodemographic group. Such differential correlation can arise in school choice because of the varying prevalence of selection criteria, in college admissions because of test-option...
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作者：Gustafson, Matthew; Haslag, Peter; Weagley, Daniel; Ye, Zihan
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Vanderbilt University; University of Tennessee System; University of Tennessee Knoxville
摘要：We show that migration induced by the COVID-19 pandemic significantly predicts changes in municipal bond yields. Negative migration shocks have made debt more expensive, especially in the areas and bonds most exposed to the work-from-home (WFH) transition. Over the full sample, a one-standard-deviation increase in COVID period outmigration predicts an approximate 4.5-basis-point rise in municipal bond yields, after controlling for a range of local economic factors including state-or core-based...
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作者：Chen, Zhi; Zhao, Long
作者单位：National University of Singapore; National University of Singapore
摘要：We propose a new method for combining point forecasts from multiple experts across multiple variables to improve inference about an unknown variable. Traditional aggregation methods combine forecasts for each variable separately (we refer to these methods as separate inference methods). However, in practice, each expert frequently provides a forecast for each variable across multiple variables. Because forecast errors can be correlated across the variables, the decision maker may additionally ...
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作者：Chen, Chen; Chen, Yilun; Qian, Pengyu
作者单位：New York University; NYU Shanghai; The Chinese University of Hong Kong, Shenzhen; The Chinese University of Hong Kong, Shenzhen; Boston University
摘要：Resource pooling improves system efficiency drastically in large stochastic systems, but its effective implementation in decentralized systems remains relatively underexplored. This paper studies how to incentivize resource pooling when agents are self-interested, and their states are private information. Our primary motivation is applications in the design of decentralized computing markets, among others. We study a standard multiserver queueing model in which each server is associated with a...
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作者：Aobdia, Daniel; Li, Edward Xuejun; Ramesh, K.; Shen, Min
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Baruch College (CUNY); City University of New York (CUNY) System; Baruch College (CUNY); Rice University; George Mason University
摘要：Little is known about how the Public Company Accounting Oversight Board (PCAOB) selects audits for inspections. We exploit public data that track PCAOB searches of issuer Securities and Exchange Commission (SEC) filings and the trial transcripts of United States of America v. David Middendorf to provide the first large-sample evidence on confidential PCAOB monitoring activities. We initially validate that PCAOB searches spike during actual inspections of triennially inspected auditors and for ...
