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Retailers often conduct non-overlapping sequential online auctions as a revenue generation and inventory clearing tool. We build a stochastic dynamic programming model for the seller’s lot-size decision problem in these auctions. The model incorporates a random number of participating bidders...
Persistent link: https://www.econbiz.de/10014194295
Relative deprivation (RD), also known as relative poverty, an idea implicitly put forward by Adam Smith in The Wealth of Nations and formally conceptualized by Runciman (1966), refers to the discontent people feel when they compare their positions to others and realize that others in the group...
Persistent link: https://www.econbiz.de/10014155344
China and some other countries have experienced unbalanced sex ratios in the marriage market, which triggers intense competition and pressure to get married. This paper utilizes two household longitudinal datasets from rural China – a secondary national survey and a primary regional survey –...
Persistent link: https://www.econbiz.de/10014157642
As Web 3 developments expand to virtual reality metaverses, personal profile (PFP) non-fungible tokens are emerging as the digital profile of choice. Many of these collections plan for images to be made into 3D avatars that function in virtual gaming and/or business environments. At the time of...
Persistent link: https://www.econbiz.de/10014238551
We propose a dynamic measure of stock market sentiment, extending heavily the widely adopted Baker and Wurgler (2006) market sentiment index construct on the novel basis that (1) the aggregate market sentiment must cover as many views from different investors or investment activities as possible;...
Persistent link: https://www.econbiz.de/10014238603
We propose a dynamic measure of stock market sentiment, extending heavily the widely adopted Baker and Wurgler (2006) market sentiment index construct on the novel basis that (1) the aggregate market sentiment must cover as many views from different investors or investment activities as possible;...
Persistent link: https://www.econbiz.de/10014238884
We use machine learning methods and high-dimensional detailed financial data to predict the direction of one-year-ahead earnings changes. Our models show significant out-of-sample predictive power: the area under the receiver operating characteristics curve ranges from 67.52% to 68.66%,...
Persistent link: https://www.econbiz.de/10014239243
Corporate bonds carry a premium of extreme illiquidity (EIL). This premium permeates all rating categories and heightens in times of stress and periods with high uncertainty. EIL has predictive power in the cross-section for future returns up to at least a one-year horizon. Active investors like...
Persistent link: https://www.econbiz.de/10014254397
With increasing ecommerce penetration, it is believed that consumers are spending more shopping time online and away from physical stores. This brings to question the role of physical stores in an increasingly digitized landscape and whether they remain relevant. The measurement of the impact of...
Persistent link: https://www.econbiz.de/10014089714
Existing studies that evaluate the impact of pollution on human beings understate its negative effect on cognition, mental health, and happiness. This paper attempts to fill in the gap via investigating the impact of air quality on subjective well-being using China as an example. By matching a...
Persistent link: https://www.econbiz.de/10014132025