Showing 1 - 10 of 38
This paper examines the impact of COVID‐19 lockdowns on exports by Chinese cities. We use city‐level export data at a monthly frequency from January 2018 through April 2020. Differences‐in‐differences estimates suggest cities in lockdown experienced a ceteris paribus 34 percentage points...
Persistent link: https://www.econbiz.de/10014082739
This study investigates the capability of generative artificial intelligence (AI) in creating innovative business solutions compared to human crowdsourcing methods. We initiated a crowdsourcing challenge focused on sustainable, circular economy business opportunities. The challenge attracted a...
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This paper completely characterizes the set of Nash equilibria of the Vickrey auction for multiple identical units when buyers have non-increasing marginal valuations and there at least three potential buyers. There are two types of equilibria: In the first class of equilibria there are positive...
Persistent link: https://www.econbiz.de/10010373498
We use the tools of mechanism design, combined with the theory of risk measures, to analyze how a cash constrained owner of an asset with known stochastic returns raises capital from a population of investors that differ in their risk aversion and budget constraints. The issuer partitions the...
Persistent link: https://www.econbiz.de/10014578314
We examine the effects of demand-side (product market) and supply-side (supply chain) market power on firm profitability and the ease of access to bank financing. Using granular supply-chain and bank-loan information, we empirically demonstrate that both demand-side and supply-side power are...
Persistent link: https://www.econbiz.de/10013404501
We study the design of all-pay contests when the organizer's objective is to maximize the expected winner's effort and contestants have private information about their valuations for the prize. We identify sufficient conditions for every optimal contest to involve differential treatment of ex...
Persistent link: https://www.econbiz.de/10013222456
We derive the revenue maximizing allocation of m units among n symmetric agents who have unit demand, and who take costly actions that influence their values before participating in the mechanism. The allocation problem with costly actions can be represented by a reduced form model where agents...
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