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Carnegie Mellon: Tepper School of Business

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Tax-Subsidized Underpricing: Issuers and Underwriters in the Market for Build America Bonds 11/1/2013
Stochastic Input Model Selection 10/1/2013
Using Brouwer's Continuity Principle to Pick Stocks 9/1/2013
Horizontal Mergers in Multi-Tier Decentralized Supply Chains 7/1/2013
Political Economy of Centralized Redistribution and Local Government Fiscal Structure 7/1/2013
A Rental Inventory Model with Random Loss 6/1/2013
An Effective Method for Modeling Wind Power Forecast Uncertainty 6/1/2013
Beta-Guaranteed Joint Service Levels 6/1/2013
Beta-Guaranteed Joint Service Levels 6/1/2013
Data-Driven Newsvendor: A Probabilistic Gauarantee for Near Optimality when Demand is Temporally Dependent 6/1/2013
How Perceptions of Temporal Distance Influence SatiationAlthough people recover from satiation with the natural passage of time, we examine whether it is possible to influence the recovery process by changing merely the subjective temporal distance from past consumption. Through a series of lab and field exper...6/1/2013
Incorporating Seismic Concerns in Site Selection for Enhanced Geothermal Power Generation 6/1/2013
Love It Longer: Sentimental Value Slows Hedonic AdaptationAcross four studies we demonstrate that consumers adapt more slowly to products that are sentimentally valuable as compared to products that are not. Specifically, we show that consumers adapt more slowly to gifts that they received during a holiday shopp...6/1/2013
Love It Longer: Sentimental Value Slows Hedonic AdaptationAcross four studies we demonstrate that consumers adapt more slowly to products that are sentimentally valuable as compared to products that are not. Specifically, we show that consumers adapt more slowly to gifts that they received during a holiday shopp...6/1/2013
Maximizing Demand Fulfillment Probability under Parameter Uncertainty 6/1/2013
Optimal Investment Timing and Capacity Choice for Pumped Hydropower Storage 6/1/2013
Regional Variations in the Health, Environmental, and Climate Benefits of Wind and Solar Generation 6/1/2013
Subset Seelection Procedures for Stochastic Simulations with Unknown Input Parameters 6/1/2013
The Cost of Curtailing Wind Turbines for Secondary Frequency Regulation Capacity 6/1/2013
The Effect of Variability-Mitigating Market Rules on the Operation of Wind Farms 6/1/2013
VARTA Failure Probability 6/1/2013
What Day-Ahead Reserves are Needed in Electric Grids with High Levels of Wind Power? 6/1/2013
When Good Things Come to an End: The Trajectory of Desire for Consummatory Stimuli When Access is LostDesire for consummatory stimuli often reaches its apex as the loss of access to the stimuli becomes imminent. The present research advances our understanding of the trajectory of this desire by examining desire for consummatory stimuli after access is los...6/1/2013
Merchant Operations: Real Option Management of Commodity and Energy Conversion AssetsThe value chain for energy and other commodities entails physical conversions through refineries, power plants, storage facilities, and transportation and other capital-intensive infrastructure. When the operation of such commodity conversion assets occu...5/1/2013
Preface to the Special Issue on Energy Modeling 5/1/2013
Relaxations of Approximate Linear Programs for the Real Option Management of Commodity StorageThe real option management of commodity conversion assets gives rise to intractable Markov decision processes (MDPs). This intractability is due primarily to the high dimensionality of a commodity forward curve, which is part of the MDP state when using h...5/1/2013
Is It More Valuable to Store or Destroy Electricity Surpluses?A typical strategy for dealing with commodity surpluses is to store them for future sale; though electricity cannot yet be stored on a large scale, this storage strategy will become a natural choice for dealing with electricity surpluses. However, becau...4/1/2013
Political Economy of Tax Systems 4/1/2013
Predators, Prey and Volatility on Wall Street 4/1/2013
Reintegration through Ritual: A Confucian Approach 4/1/2013
The Decent Form of Termination: A Moral Case for Severance Pay 4/1/2013
The Prescriptive in the Descriptive: The Falsifiability Theorem in Organization Science 4/1/2013
Unemployment CrisesA search and matching model, when calibrated to the mean and volatility of unemployment in the postwar sample, can potentially explain the large unemployment dynamics in the Great Depression. The congestion externality induced by matching frictions cause...4/1/2013
Getting Stuck on Geoengineering 3/1/2013
Joint Merchant Management of Natural Gas Storage and Transport CapacityNatural gas pipeline systems give merchants the ability to trade natural gas across time and different geographical markets. That is, these systems embed two types of real options: storage and transport. The current literature has studied the management...3/1/2013
Unemployment, Financial Frictions, and the Housing MarketWe develop and calibrate a two-sector, search-matching model of the labor market augmented to incorporate a housing market and a frictional goods market. The labor market is divided into a construction sector and a non-housing sector, and there is perfect...3/1/2013
An Inventory Theoretic Approach to Rental Systems 2/1/2013
Data-Driven Newsvendor: Probabilistic Error Bounds When Demand is Temporally Dependent 2/1/2013
Designing Subset-Selection Procedures for Simulation under Input Parameter Uncertainty 2/1/2013
Inventory Rebalancing and Vehicle Routing in Bike Sharing SystemsBike sharing systems have been installed in many cities around the world and are increasing in popularity. A major operational cost driver in these systems is rebalancing the bikes over time such that the appropriate number of bikes and open docks are ava...2/1/2013
Maximizing Demand Fulfillment Probability Under Parameter Uncertainty 2/1/2013
A Theory of School-Choice Lotteries 1/1/2013
Can Hybrid Solar-Fossil Power Plants Mitigate CO2 at Lower Cost than PV or CSP? 1/1/2013
From Boston to Chinese Parallel to Deferred Acceptance: Theory and Experiments on a Family of School Choice Mechanisms 1/1/2013
Managing Wind-based Electricity Generation in the Presence of Storage and Transmission CapacityManaging power generation from wind is conceptually straightforward: generate and sell as much electricity as possible when prices are positive, and do nothing otherwise. However, this strategy leads to curtailment when wind energy exceeds the transmissio...1/1/2013
Optimal Energy Procurement in Spot and Forward MarketsSpot and forward purchases for delivery on the usage date play an important role in matching the supply and the uncertain demand of energy, because storage capacity for energy, such as electricity, natural gas, and oil, is limited. Transaction costs tend...1/1/2013
Simultaneous Location of Trauma Centers and Helicopters for Emergency Medical Service Planning 1/1/2013
The Cyclical Volatility of Labor Markets under Frictional Financial Markets 1/1/2013
The Price of Diversifiable Risk in Venture Capital and Private Equity 1/1/2013
Explicit and Implicit Incentives for Multiple Agents 12/1/2012
Language, Deception and Social Loss in an Investment / Trust Game 12/1/2012
The Learning Curve of Knowledge Workers in a Professional Call Center 12/1/2012
Two Axiomatic Approaches to the Probabilistic Serial Mechanism 12/1/2012
Contracting for On-Time Delivery in the U.S. Influenza Vaccine Supply Chain 11/1/2012
Information Transfer: A Network Study of Organizational Information SpreadPrevious network diffusion research has focused predominantly on the final step in the process, adoption, rather than the primary step of information acquisition. To explain information acquisition, I propose a theory of novel information transfer based o...11/1/2012
On Two Kinds of Manipulation for School Choice Problems 11/1/2012
Robust Implementation in Weakly Rationalizable Strategies 11/1/2012
The Elusive Promise of Independent Central Banking 11/1/2012
Transactive Memory Systems: Micro Foundations of Dynamic Capabilities 11/1/2012
Advance Selling in a Supply Chain under Uncertain Supply and Demand 10/1/2012
Appeasement: Pro-hierarchy Dominant Group Members’ Strategic Support for Redistributive Policies 10/1/2012
Guilt proneness and moral characterGuilt proneness is a personality trait indicative of a predisposition to experience negative feelings about personal wrongdoing, even when the wrongdoing is private. It is characterized by the anticipation of feeling bad about committing transgressions...10/1/2012
Copula-Based Multivariate Input Modeling 9/1/2012
Merchant Commodity Storage and Term Structure Model ErrorMerchants operations involves valuing and hedging the cash flows of commodity and energy conversion assets as real options based on stochastic models that inevitably embed model error. In this paper we quantify how empirically calibrated model errors abou...9/1/2012
Real Option Management of Hydrocarbon Cracking OperationsCommodity conversion assets play important economic roles. It is well known that the market value of these assets can be maximized by managing them as real options on the prices of their inputs and/or outputs. In particular, when futures on these inputs...9/1/2012
The Price of Diversifiable Risk in Venture Capital and Private EquityThis paper explores the venture capital (VC) market and extends the standard principal-agent problem between the investor and venture capitalist to show how it alters the interaction between the venture capitalist and the entrepreneur. The nature of the t...9/1/2012
Valuation of Multiple Exercise Options with Energy ApplicationsWe develop least squares Monte Carlo (LSM) and approximate linear programming (ALP) methods for valuing multiple exercise options, such as energy swing and storage options, using term structure models. Our numerical and theoretical investigation shows t...9/1/2012
Accounting Conservatism and Debt Contracts: Efficient Liquidation and Covenant Renegotiation 8/1/2012
Apology Ritual: Making Amends at the Workplace 8/1/2012
Corporate Ontology 8/1/2012
Equal-Fractile Heuristic: New Results and Insights 8/1/2012
Equal-Fractile Heuristic: New Results and Insights 8/1/2012
Hail, Procrustes! Harmonized Accounting Standards as a Procrustean bed 8/1/2012
Identification and Estimation of the Effect of Lobbying Participation on Policy Enactment 8/1/2012
Lobbying for Power: A Structural Model of Lobbying in the Energy Sector 8/1/2012
Mixed Bundling in Two-Sided Markets in the Presence of Installed Base EffectsWe present a theoretical monopoly model of mixed bundling in a two-sided market setting. We show the platform's dominant strategy is to offer a mixed bundle rather than a pure bundle or no bundle. Mixed bundling acts as a price discrimination tool segment...8/1/2012
Networks, social influence and the choice among competing innovations: Insights from open source software licensesExisting research provides little insight into how social influence affects the adoption and diffusion of competing innovative artifacts and how the experiences of organizational members who have worked with particular innovations in their previous employ...8/1/2012
Strategic Analysis of Technology and Capacity Investments in the Lique fied Natural Gas IndustryEnergy plays a fundamental role in both manufacturing and services, and natural gas is rapidly becoming a key energy source worldwide. Facilitating this emergence is an expanding network of ocean-going vessels that enable the matching of natural gas sup...8/1/2012
Why the F*** Don’t They Trust?: The Relationship between Online Incivility and Trust 8/1/2012
A Large U.S. Retailer Selects Transportation Carriers under Diesel Price Uncertainty 7/1/2012
A Sampling-Based Approach to Multi-Item Inventory Control with a Generalized Demand ModelConsidering a multi-item inventory system with independent order-up-to policies, we study the problem of identifying cost-minimizing inventory targets that fulfill the correlated item demands with a pre-specified probability. We follow a sampling-based ap...7/1/2012
Chance Constrained Optimization with Multivariate Johnson Translation System: A Copula Approach 7/1/2012
Charter School Entry and School Choice: The Case of Washington, D.C. 7/1/2012
Contractual Effectiveness with Soft Information 7/1/2012
Disclosure and Reputation Building in an Investment / Trust Game 7/1/2012
Does Security Choice Matter in Venture Capital? The Case of Venture DebtThe switch from equity to debt in venture capital-backed entrepreneurial firms is rare, but uniquely informative. Using a novel dataset of financing decisions, we find that entrepreneurial firms that raise debt financing suffer from an average 40% post-de...7/1/2012
Dyadic Information Transfer: A Network Study of Organizational Information SpreadPrevious research on diffusion networks has focused predominately on the final step in diffusion, adoption, rather than the primary phase of information acquisition. To explain the information spread, I propose a theory of information transfer based on th...7/1/2012
Generating Wind Time Series as a Hybrid of Measured and Simulated Data 7/1/2012
Inefficiencies from Metropolitan Political and Fiscal Decentralization: Failures of Tiebout Competition 7/1/2012
Interindividual-intergroup discontinuity in the prisoner's dilemma game: How common fate, proximity, and similarity affect intergroup competition 7/1/2012
Interindividual-intergroup discontinuity in the prisoner's dilemma game: How common fate, proximity, and similarity affect intergroup competitionIn two experiments with the PDG we manipulated the Campbell (1958), or Wertheimer (1923), indices of entitativity (common fate, proximity, and similarity) to examine when a set of individuals interacts with another set of individuals in the competitive ma...7/1/2012
On the Political Economy of Tax Limits 7/1/2012
On Unified View of Nullspace-type Conditions for Recoveries Associated with General Sparsity Structures 7/1/2012
Skill Specialization and the Formation of Collaboration NetworksAbstract. In recent years, there has been increased interest among funding organizations and administrators in supporting the acquisition of interdisciplinary skills in collaborative communities, such as universities, national labs, and knowledge-based fi...7/1/2012
The Effects of Corruption on Organizational Networks and Individual BehaviorIn this study, I examine the effects of corruption on patterns of relations in a well-known case of organizational crime. By contrasting corrupt and non-corrupt projects within an organization, I am able to examine how fraudulent endeavors alter the way i...7/1/2012
The Employment and Wage Effects of the Sugar and Ethanol Boom in São Paulo State 7/1/2012
The Role of Price Spreads and Reoptimization in the Real Option Management of Commodity Storage AssetsThe real option management of commodity storage assets is an important practical problem. Practitioners approach the resulting stochastic optimization model using heuristic policies that rely on sequential reoptimization of linear programs. Used in conjun...7/1/2012
A Hidden Markov Model for Collaborative Filtering 6/1/2012
A Hidden Markov Model for Collaborative Filtering 6/1/2012
Asset pricing with heterogeneous beliefs and endogenous liquidityThis article studies a dynamic general-equilibrium economy in which one population of optimistic investors is subject to endogenous liquidity constraints, that prevent default due to ex-ante limited commitment. We find a joint feedback effect between sent...6/1/2012
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