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作者：Mukherjee, Arijit; Vasconcelos, Luis
作者单位：Michigan State University; Universidade Nova de Lisboa
摘要：We characterize the optimal job design in a multitasking environment when the firms use implicit contracts (i.e., bonus payments). Two natural forms of job design are compared: (i) individual assignment, where each agent is assigned to a particular job and (ii) team assignment, where a group of agents share responsibility for a job and are jointly accountable for its outcome. Team assignment mitigates the multitasking problem but may weaken the implicit contracts. The optimal job design follow...
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作者：Khanna, Naveen; Mathews, Richmond D.
作者单位：Michigan State University; Duke University
摘要：Existing models show that herding in decisions can cause significant information loss, inferior information aggregation, and impaired decision making. However, we show that in a multistage decision setting with endogenous information production, herding on the initial decision can actually result in superior aggregate information and improved decisions. This is because the possibility of herding by a follower incentivizes the leader to increase its ex ante information production to an extent t...
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作者：Ciapanna, Emanuela
摘要：This article analyzes the practice of opportunistic poaching of consultants by clients, with particular reference to the business consulting industry. The strategic interaction of consulting groups, client firms, and consultants gives rise to a market equilibrium in a mixed economy. Under very general conditions, whenever a match client-consultant is formed, a pure strategy equilibrium exists where the consulting group pleases the client's request and the consultant is poached by the client. T...
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作者：Tang, Xun
作者单位：University of Pennsylvania
摘要：Measuring auction revenues under counterfactual reserve prices or formats requires knowledge of distributions of bidders' values and private signals. This poses a challenge when bids are observed from first-price, common-value auctions. I bound counterfactual revenue distributions without imposing parametric restrictions on the model structure. Using data from U.S. municipal bond auctions, I find first-price and second-price auctions under optimal reserve prices lead to little improvement in r...
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作者：Copeland, Adam; Dunn, Wendy; Hall, George
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Brandeis University
摘要：This article studies the within-model-year pricing, production, and inventory management of new automobiles. Using new monthly data on U.S. transaction prices, we document that, for the typical vehicle, prices fall over the model year at a 9.0% annual rate. Concurrently, both sales and inventories are hump shaped. To explain these time series, we formulate an industry model for new automobiles in which inventory and pricing decisions are made simultaneously. The model predicts that automakers'...
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作者：Fershtman, Chaim; Gandal, Neil
作者单位：Tel Aviv University
摘要：Knowledge spillovers are a central part of knowledge accumulation. The article focuses on spillovers that occur through the interaction between different researchers or developers who collaborate on different research projects. The article distinguishes between project spillovers and contributors' spillovers and between direct and indirect spillovers. The article constructs a unique data set of open source software projects. The data identify the contributors who work on each project and thus ...
