We consider a finite-horizon, periodic-review system for a perishable product at a retailer that faces stochastic, age-dependent demand and loses excess demand, if any. For this system, we build three models that capture two sources of unfilled demand, insufficient inventory and inappropriate...

We propose a regression discontinuity design which can be employed when assignment to a treatment is determined by an ordinal variable. The proposal first requires an ordered probit model for the ordinal running variable to be estimated. The estimated probability of being assigned to a treatment...

The VIX index and trading volume (VO) can subsume information of the future volatility in financial markets, and therefore, have been commonly used as volatility forecasting instruments. Previous studies have identified superior VIX- and VO-based forecasts compared to various GARCH-type models,...

This paper examines the equity loan supply for short selling. Using detailed stock lending data, we show that active equity funds, on average, are informed lenders. The stocks they lend outperform those that they do not. The stocks they recall and sell perform worse in the future than those that...