By constructing a novel dataset based on the Nielsen Retail Scanner and the VentureXpert databases, we study how venture capitalists (VCs) create value in the product market for the entrepreneurial firms backed by them. We document that, compared to that of non-VC-backed firms, the sales of...

We consider a high-dimensional dynamic pricing problem under non-stationarity, where a firm sells products to T sequentially arriving consumers that behave according to an unknown demand model with potential changes at unknown times. The demand model is assumed to be a high-dimensional...

Using Thailand stock market data, we find that prospect theory has strong predictive power for returns in the Thailand stock market. This predictive power is strengthened during crises and bear and bull markets. The loss aversion component is the main contributor to the increased predictive...

Long-term exposure to extreme temperatures could threaten individuals' mental health and psychological wellbeing. This study aims to investigate the long-term impact of cumulative exposure to extreme temperature. Differently from existing literature, we define extreme temperature exposure in...

We investigate the effect of exposure to air pollution on an individual's likelihood towards entrepreneurship using panel data in China. To address omitted variable bias and endogeneity arising from self-selection into entrepreneurship and location choice, we employ an individual fixed effects...

Primary healthcare institutions (PHIs) in China have experienced a sizable decline in medical services in recent years. Despite the large regional disparities in China, there is a lack of evidence on the differential patterns of medical services offered by PHIs, especially from a spatial...

We introduce a general decision tree framework to value an option to invest/divest in a project, focusing on the model risk inherent in the assumptions made by standard real option valuation methods. We examine how real option values depend on the dynamics of project value and investment costs,...

This paper examines how transparency on climate risk affects asset values in the housing market in aggregate. I argue that information frictions on climate risk may lead to a risk aversion premium for the entire market, resulting in a potential “market for lemon”. However, this can be...