Now showing items 11-20 of 45
Impacts of Renewable Portfolio Standards
(2016-01)
Renewable Portfolio Standards (RPSs) are a key policy measure used by U.S. states to increase their production of renewable electricity. Economic theory shows that RPSs are not first-best policy measures for mitigating ...
Can You Gig it? An Empirical Examination of the Gig-Economy and Entrepreneurial Activity
(2016-03)
We examine how the entry of gig-economy platforms influences local entrepreneurial activity. On one hand, such platforms may reduce entrepreneurial activity by offering stable employment for the un- and under-employed. On ...
Credit Ratings: Strategic Issuer Disclosure and Optimal Screening
(2016-06)
We study a model in which an issuer can manipulate information obtained by a credit rating agency (CRA) seeking to screen and rate its financial claim. Better CRA screening leads to a lower probability of obtaining a high ...
Real-Time Dynamic Pricing for Revenue Management with Reusable Resources and Deterministic Service Time Requirements
(2016-07)
We consider the setting of a firm that sells a finite amount of resources to price-sensitive customers who arrive randomly over time according to a specified non-stationary rate. Each customer requires a service that consumes ...
Robust Security Design
(2016-08)
We consider the optimal contract between an entrepreneur and investors in a single-period model when both parties have limited liability, are risk-neutral toward cash flow risk, and are ambiguity-averse. Ambiguity aversion ...
Rationalizing Size, Value, and Momentum Effects with a CAPM2
(2016-02)
This paper shows that a Capital Asset Pricing Model based on Continuous Asymmetric Polynomial Models (CAPM2) can identify the sources of risk that drive the cross section of stock returns. In accordance with recent decision ...
The Link between Social Movements and Corporate Social Initiatives: Towards a Multi-Level Theory
(2016-02)
This article offers a first step towards a multi-level theory linking social movements to corporate social initiatives. In particular, building on the premise that social movements reflect ideologies that direct behavior ...
On (Re-Scaled) Multi-Attempt Approximation of Customer Choice Model and its Application to Assortment Optimization
(2016-06)
Motivated by the classic exogenous demand model and the recently developed Markov chain model, we propose a new approximation to the general customer choice model based on random utility called multi-attempt model, in which ...
Learning in a Disruptive Customer Engagement Platform: An Empirical Analysis in the Banking Industry
(2016-07)
The shift in enterprise applications to disruptive mobile platforms calls for research to better understand the mechanisms and factors behind success in these new platforms. In this paper, we empirically study the learning ...
Corporate Tax Havens and Transparency
(2016-06)
In hand-collected subsidiary data on 17,331 publicly listed firms from 52 countries, we identify expropriation-related motives for establishing tax haven subsidiaries. First, Tax Information Exchange Agreements (TIEAs) ...