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作者：Elenev, Vadim; Quintero, Luis; Rebucci, Alessandro; Simeonova, Emilia
作者单位：Johns Hopkins University; Centre for Economic Policy Research - UK; National Bureau of Economic Research; IZA Institute Labor Economics
摘要：This paper investigates the direct and spillover effects on mobility caused by the staggered adoption of stay-at-home orders (SHOs) implemented by U.S. counties to contain COVID-19 at the beginning of the pandemic. We find that mobility in neighboring counties declines by a third to a half as much as in the counties that implement the SHOs. Furthermore, these spillovers are concentrated in counties that share media markets with treated counties. Using directional mobility data, we also find th...
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作者：Bayer, Ralph-Christopher; Renou, Ludovic
作者单位：University of Adelaide; University of London; Queen Mary University London
摘要：The resolution of complex problems is widely seen as the next challenge for hybrid human-artificial intelligence (AI) teams. This paper uses experiments to assess whether there is a difference in the quality of human reasoning depending on whether the humans interact with humans or algorithms. For this purpose, we design an interactive reasoning task and compare the performance of humans when paired with other humans and AI. Varying the difficulty of the task (i.e., steps of counterfactual rea...
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作者：Frake, Justin; Harmon, Derek
作者单位：University of Michigan System; University of Michigan
摘要：This paper investigates how organizational misconduct is perpetuated through intergenerational transmission. We theorize that early exposure to a subculture of misconduct imprints newcomers with the belief that misconduct is normal, which is then carried by these individuals into managerial positions and passed down to their subordinates. We test this using longitudinal administrative data from the Chicago Police Department from 1980 to 2017. We exploit a lottery that assigns applicants to tra...
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作者：Ozbay, Eren; Kamble, Vijay
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：In several applications of the stochastic multiarmed bandit problem, the traditional objective of maximizing the expected total reward can be inappropriate. In this paper, we study a new objective in the classic setup. Given K arms, instead of maximizing the expected total reward from T pulls (the traditional sum objective), we consider the vector of total rewards earned from each of the K arms at the end of T pulls and aim to maximize the expected highest total reward across arms (the max obj...
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作者：Xu, Nianhang; Chan, Kam C.; Xie, Rongrong; Chen, Qinyuan; Agarwal, Sumit
作者单位：Renmin University of China; Shanghai Business School; Central University of Finance & Economics; Nanjing University; National University of Singapore
摘要：We examine the impact of family-based human capital stemming from a chairperson's having siblings vis-a`-vis not having siblings on corporate innovation in Chinese family firms. Using hand-collected data, we document that when a firm has a siblingchairperson, it holds more patents, receives more total citations to its patents, and has greater innovation efficiency and innovation quality than an otherwise equivalent firm with a chairperson having no siblings. The results are economically signif...
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作者：Liu, Yan; Zhang, Dan
作者单位：Hong Kong Polytechnic University; University of Colorado System; University of Colorado Boulder
摘要：Consumers often receive a full or partial refund for product returns or service cancellations. Much of the existing literature studies cash refunds, where consumers get the money back minus a fee upon a product return or service cancellation. However, not all refunds are issued in cash. Sometimes consumers receive credit that can be used for future purchases, oftentimes with an expiration term after which the credit is forfeited. We study the optimal design of credit refund policies. Different...
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作者：Gomes, Armando; Gopalan, Radhakrishnan; Leary, Mark T.; Marcet, Francisco
作者单位：Washington University (WUSTL); National Bureau of Economic Research; Universidad de Chile
摘要：We use the setting of analyst coverage networks to shed light on the nature of peer effects in financial policies. First, we use the friends-of-friends approach and exploit the fact that analyst coverage networks partially overlap to identify endogenous peer effects, in which firms respond directly to the capital structure choices of their peers, separately from contextual effects, in which they respond to their peers' characteristics. We further show evidence that analysts facilitate these pe...
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作者：Jiang, Xu; Yang, Ming
作者单位：Duke University; University of London; University College London; University of London; University College London
摘要：We study optimal accounting rules that alleviate inefficiencies caused by managerial private benefits. Accounting signals generated by the accounting rules guide the continuation decision at an interim project stage. The entrepreneur enjoys private benefits from continuation, which may induce inefficient decisions. The optimal accounting rule is characterized by a threshold, with a higher threshold representing more conservative accounting. The first-best is achieved under small private benefi...
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作者：Fischbacher, Urs; Kuebler, Dorothea; Stueber, Robert
作者单位：University of Konstanz; Technical University of Berlin; Leibniz Association; Ifo Institut; New York University; New York University Abu Dhabi
摘要：Gender segregation of occupations and entire industries is widespread. The segregation could be the result of perceived job-specific productivity differences between men and women. It could also result from the belief that homogeneous teams perform better or from in-group bias of male or female recruiters. We investigate these explanations in two samples: students and personnel managers. The subjects bet on the productivity of teams that are homogeneous with respect to gender at the outset and...
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作者：Salem, Jad; Gupta, Swati
作者单位：United States Department of Defense; United States Navy; United States Naval Academy; Massachusetts Institute of Technology (MIT)
摘要：The k-secretary problem deals with online selection of at most k numerically scored applicants, where selection decisions are immediate upon their arrival and irrevocable, with the goal of maximizing total score. There is, however, wide prevalence of bias in evaluations of applicants from different demographic groups (e.g., gender, age, race), and the assumption of an algorithm observing their true score is unreasonable in practice. In this work, we propose the poset secretary problem, where s...
