编者按
在本著作中，咱们对顶刊《Management Science》于2026年1月份在线发布的著作中进行了精选（共8篇），并总结其基本信息，旨在匡助读者快速知悉行业最新动态。本月MS发文聚焦风险束缚策略、平台经济中的空间匹配与信息分享、新兴技巧遴荐及行动金融与组织能源学，研究网约车处事可及性的密度经济效应、按需平台供需错配的信息露出机制、生成式AI的快速普及特征、税收断点对投资者行动的影响等前沿问题。能力涵盖博弈论建模与反事实模拟、聚束分析法、标志约束向量自总结及大界限微不雅探访与实证分析等先进技巧。
著作1
● 题目：On the Expansion of Risk Pooling
风险共担的拓展研究
● 作家：Michail Anthropelos ， Runhuan Feng ， Seongyoon Kim
● 发表时候：2026-1-2
● 摘抄：
Risk pooling has become an increasingly critical tool for managing risks among corporations， institutions， states， and nations， with examples including multinational pooling， decentralized insurance schemes， catastrophe risk pooling， and burden sharing for nuclear accidents. Although there has been a rich literature on such practices， little is known from a theoretical viewpoint regarding the operational strategies of risk pools and， in particular， on issues about the effect of a pool’s expansion on each existing member’s welfare. This paper is the first to explore these issues by establishing different notions of consensus for the expansion of a risk pool: strong consensus， where both existing members and new candidates improve their risk measures due to the pool’s expansion， and weak consensus， which refers to the willingness of existing members to remain in the pool. Under optimal risk sharing for each pool， we show that its properties regarding expansion’s effects depend strongly on the underlying pricing rule. For instance， only with risk-adjusted equilibrium pricing are existing members willing to accept highly risky new members， whereas simple linear pricing excludes such members from the pool. Additionally， the impact of exogenous reinsurance on consensus is analyzed under both pricing rules. The established framework offers valuable managerial insights and policy implications， which we illustrate through two indicative case studies based on real data.
风险共担已成为企业、机构、各州及列国开展风险束缚的伏击器具，典型应用包括跨国风险共担、去中心化保障决议、巨灾风险共担以及核事故弃世摊派等。现存干系研究效果颇丰，但从表面层面来看，对于风险共担机制的运营策略，尤其是共担机制拓展对现存各参与方福利的影响问题，干系研究仍较为匮乏。本文初次围绕上述问题伸开探究，为风险共担的拓展设定了两类共鸣界定圭臬：强共鸣，即共担机制拓展后，现存参与方与新肯求加入方的风险度量水平均赢得改善；弱共鸣，即现存参与方快意持续留在该共担机制中。在万般风险共担机制完毕风险最优摊派的前提下，研究发现其拓展效应的干系特征与底层订价规则高度干系。举例，独一遴荐风险调度平衡订价，现存参与方才快意罗致高风险新参与方，而浅薄线性订价则会将此类参与方打消在共担机制除外。此外，本文还分析了在上述两种订价规则下，外部分保对共鸣造成产生的影响。本文构建的研究框架好像为推论提供具有价值的束缚启示与计策含义，并集中两项基于实质数据的典型案例研究对其进行了具体阐释。
著作2
● 题目：Spatial Distribution of Access to Service: Theory and Evidence from Ride-Sharing
处事可及性的空间散布：表面分析与网约车的实证笔据
● 作家：Soheil Ghili ， Vineet Kumar ， Fei Teng
● 发表时候：2026-1-14
● 摘抄：
We study access to ride-sharing across geographical regions using both theoretical and empirical analyses. We specifically model and examine the effects of economies of density in ride-sharing. Our model predicts that (i) economies of density skew access to ride-sharing away from less dense regions; (ii) the skew will be more pronounced for smaller platforms (i.e.， “thinner markets”); and (iii) ride-sharing platforms do not find this skew efficient and thus， use price and wage levers to mitigate (but not eliminate) it. We show that these insights are robust to whether the source of economies of density is the supply side or the demand side. We then calibrate our model using ride-level Uber data from New York City. We use the model to simulate counterfactual scenarios， offering a quantitative evaluation of our theoretical results and informing platform strategy and policy.
本文遴荐表面分析与实证分析相集中的能力，研究不同地舆区域的网约车处事可及性问题。研究重心对网约车的密度经济效应进行建模与锻真金不怕火。本文构建的模子展望：第一，密度经济会使网约车处事可及性向低密度区域歪斜的进程镌汰；第二，这一偏差在界限较小的平台（即 “淡泊商场”）中阐扬得更为显耀；第三，网约车平台以为该偏差枯竭服从，因此和会过价钱与答谢调控技巧对其进行缓解，但无法绝对摈斥。研究解说，无论密度经济的成因源于供给端照旧需求端，上述筹辩论断均具备隆重性。本文随后足下纽约市优步平台的订单级数据对模子进行校准，并通过模子模拟反事实场景，对表面研究结果开展量化考据，同期为平台运营策略与干系计策制定提供参考依据。
著作3
● 题目：Spatial Information Sharing on On-Demand Service Platforms
按需处事平台上的空间信息分享
● 作家：Swanand Kulkarni ， Basak Kalkanci
● 发表时候：2026-1-14
● 摘抄：
We investigate how an on-demand service platform’s mechanism to share demand-supply mismatch information spatially affects drivers’ relocation decisions and the platform’s matching efficiency. We consider three mechanisms motivated by practice; the platform shares demand-supply mismatch information about either zones(s) with excess demand with all drivers (surge information sharing， common practice today)， all zones with all drivers (full information sharing)， or zone(s) with excess demand only with drivers sufficiently close by (local information sharing). We develop a game-theoretic model with three zones wherein drivers in two non-surge zones decide whether to relocate to the surge zone with excess demand. We incorporate two spatial aspects: drivers’ relocation costs and initial supply across different non-surge zones. Theoretically， full information sharing can hurt the platform’s matching efficiency compared with surge information sharing under low relocation costs because drivers in non-surge zones facing high demand locally do not chase the surge as much. Local information sharing is strictly dominated by other mechanisms in terms of matching efficiency when the supply of drivers near the surge zone is limited and weakly dominated otherwise by surge information sharing. We test these theory predictions in the laboratory with human participants as drivers in an environment where theoretical matching efficiency is highest with surge and lowest with local information sharing. Experimentally，凤凰彩票首页 the platform serves fewer customers than predicted with surge information sharing because drivers relocate too often， compromising efficiency in non-surge zones. In contrast， the platform serves more customers than predicted with full and local information sharing， and these mechanisms perform at least as well in matching efficiency as surge. Therefore， sharing demand-supply mismatch information either fully or in a targeted manner (as in local) can help to alleviate coordination problems on a platform. A behavioral equilibrium incorporating loss aversion through mental accounting and decision errors describes drivers’ behavior in our experiments better than the rational equilibrium.
咱们研究了按需处事平台在空间上分享供需错配信息的机制怎样影响司机的重新定位决策以及平台的匹配服从。咱们调查了三种源于推论的机制；平台向悉数司机分享逾额需求区域的供需错配信息（溢价信息分享，即现在的通行作念法），向悉数司机分享悉数区域的信息（全齐信息分享），或仅向距离填塞近的司机分享逾额需求区域的信息（局部信息分享）。咱们构建了一个包含三个区域的博弈论模子，其中位于两个非溢价区域的司机需决定是否重新定位至存在逾额需求的溢价区域。咱们纳入了两个空间成分：司机的重新定位本钱以及不同非溢价区域的运行供给。
表面上，在低重新定位本钱下，与溢价信息分享比较，全齐信息分享可能会毁伤平台的匹配服从，因为在腹大地临高需求的非溢价区域司机不会那么积极地追赶溢价区域。当溢价区域隔壁的司机供给有限时，局部信息分享在匹配服从方面严格劣于其他机制；而在其他情况下，则弱劣于溢价信息分享。咱们在履行室中以东谈主类参与者看成司机测试了这些表面展望，履行环境设定为表面匹配服从在溢价信息分享下最高，而在局部信息分享下最低。
履行结果露馅，在溢价信息分享下，平台处事的客户数目少于展望值，因为司机重新定位过于平时，毁伤了非溢价区域的服从。比较之下，在全齐信息分享和局部信息分享下，平台处事的客户数目多于展望值，且这些机制在匹配服从方面的阐扬至少与溢价信息分享畸形。因此，全齐分享或以有针对性的样貌（如局部分享）分享供需错配信息，有助于缓解平台上的配合问题。一个通过心理账户纳入弃世厌恶以及决策缺欠的行动平衡，比感性平衡能更好地描摹咱们在履行中不雅察到的司机行动。
著作4
● 题目：The Rapid Adoption of Generative AI
生成式 AI 的快速普及
● 作家：Alexander Bick ， Adam Blandin ， David J. Deming
● 发表时候：2026-1-20
● 摘抄：
Generative artificial intelligence (genAI) is a potentially important new technology， but its impact on the economy depends on the speed and intensity of adoption. This paper reports results from a series of nationally representative U.S. surveys of genAI use at work and at home. As of late 2024， 45% of the U.S. population age 18–64 uses genAI. Among employed respondents， 27% used genAI for work at least once in the previous week: 10% used it every workday and 17% on some but not all workdays. Relative to each technology’s first mass-market product launch， work adoption of genAI has been faster than the personal computer (PC)， and overall adoption has outpaced both PCs and the internet by an even wider margin. Between 1% and 7% of all work hours are currently assisted by genAI， and respondents report time savings equivalent to 1.4% of total work hours. Potential productivity gains vary widely by industry， and firm climate and policies play an important role in adoption patterns.
生成式东谈主工智能 (genAI) 是一项具有后劲的伏击新技巧，江南体育(JNsports)官网app下载但其对经济的影响取决于遴荐的速率和强度。本文论说了一系列对于 genAI 在责任和家庭中使用的、具有好意思国宇宙代表性的探访结果。戒指 2024 年末，45% 的 18 至 64 岁好意思国东谈主口在使用 genAI。在在任受访者中，27% 的东谈主在畴昔一周内至少在责任中使用了以此 genAI：10% 的东谈主每个责任日齐使用，17% 的东谈主在部分而非悉数责任日使用。相较于各项技巧的首款寰球商场居品发布而言，genAI 在责任中的遴荐速率快于个东谈主电脑 (PC)，而其总体遴荐速率则以更大的幅度卓著了个东谈主电脑和互联网。现在，约 1% 到 7% 的总工时由 genAI 扶植完成，受访者论说从简的时候畸形于总工时的 1.4%。潜在的坐褥力普及因行业而异，且企业氛围和计策在遴荐时势中起着伏击作用。
著作5
● 题目：How Do Taxes Affect the Trading Behavior of Private Investors? Evidence from Individual Portfolio Data
税收怎样影响私东谈主投资者的走动行动？来自个东谈主投资组合数据的笔据
● 作家：Florian Buhlmann， Philipp Doerrenberg ， Benjamin Loos ， Johannes Voget
● 发表时候：2026-1-22
● 摘抄：
The removal of an intertemporal tax discontinuity in Germany provides us with a natural experiment to study the causal effect of taxes on individual stock-trading behavior and the disposition effect. Using individual investor transactions data combined with nonparametric regressions and bunching methods， we find that the presence of the tax discontinuity induces investors to adjust their holding periods， which reduces their effective tax rate by 11.3%. We also find that tax effects dominate the disposition effect in the days around the discontinuity and can inhibit it (by about 20%) during the six months preceding the discontinuity. We discuss the consequences of our results for the firms whose stocks are traded and policy implications.
德国摈斥跨期税收断点为咱们提供了一个当然履行，用于研究税收对个东谈主股票走动行动和束缚效应的因果影响。足下个东谈主投资者走动数据，集中非参数总结和聚束分析法，咱们发现税收断点的存在促使投资者调度其合手有期，从而将其有用税率镌汰了 11.3%。咱们还发现，在断点前后的日子里，税告成应主导了束缚效应，况且在断点前的六个月内不错阻难束缚效应（约 20%）。临了，咱们研究了研究结果对股票被走动的公司所产生的后果以及计策启示。
著作6
● 题目：Do Financial Advisors Charge Sustainable Investors a Premium?
财务参谋人是否会向可合手续投资者收取溢价？
● 作家：Marten Laudi ， Paul Smeets ， Utz Weitzel
● 发表时候：2026-1-23
● 摘抄：
Despite growing regulatory concerns about potential overcharging of sustainable investors， empirical evidence is lacking. In two controlled laboratory-in-the-field experiments with 415 professional financial advisors from Europe and the United States and an incentivized survey， we identify two distinct but interacting effects. First， advisors charge sustainable investors a premium. This premium persists even when accounting for differences in skill， effort， and costs. Second， advisors impose higher fees on clients with low financial literacy. These factors interact. Sustainable investors with low financial literacy are charged the highest fee， whereas those with high financial literacy do not pay a sustainability premium. Our findings suggest that advisors extract additional fees for sustainable investment mandates but avoid overcharging sustainable investors with high financial literacy.
尽管监管层日益善良可能针对可合手续投资者的过度收费问题，但现在仍枯竭实证笔据。基于对来自欧洲和好意思国的 415 名专科财务参谋人进行的两次受控实地履行室履行以及一项激勉性探访，咱们识别出了两种天悬地隔但相互影响的效应。当先，参谋人会向可合手续投资者收取溢价。即便在控制了技能、付出元气心灵及本钱互异后，这种溢价依然存在。其次，参谋人会对金融教诲较低的客户收取更高的用度。这两个成分存在交互作用。金融教诲较低的可合手续投资者被收取的用度最高，而具备高金融教诲的可合手续投资者则无需支付可合手续性溢价。咱们的研究结果标明，参谋人会针对可合手续投资交付收取特地用度，但会幸免对具备高金融教诲的可合手续投资者过度收费。
著作7
● 题目：Identifying Demand Curves in Index Option Markets
识别指数期权商场中的需求弧线
● 作家：Kris Jacobs， Anh Thu Mai， Paola Pederzoli
● 发表时候：2026-1-27
● 摘抄：
We identify latent demands in index option markets using a sign-restricted vector autoregression (VAR) and highlight the bias from treating (equilibrium) net demand as exogenous. Market-maker and end-user demand curves are far from infinitely elastic as assumed by some models， but elasticities exceed existing estimates for equities. Characterizing demand curves provides insights into the structure of index option markets. Deteriorating market conditions are associated with right shifts of the latent demand curves. The at-the-money (ATM) (out-of-the-money (OTM)) markets for calls and puts are mainly driven by end-user (market-maker) demand， and end-user (market-maker) ATM (OTM) call option demand predicts S&P500 returns.
咱们足下标志约束向量自总结 (VAR) 识别了指数期权商场中的潜在需求，并强调了将 (平衡) 净需求视为外生变量所产生的偏差。作念市商和最终用户的需求弧线远非如某些模子所假定的那样具有无尽弹性，但其弹性仍卓著了现存的针对股票的测度值。刻画需求弧线为领会指数期权商场的结构提供了宗旨。商场环境的恶化与潜在需求弧线的右移干系。看涨和看跌期权的平值 (ATM) (虚值 (OTM)) 商场主要由最终用户 (作念市商) 的需求驱动，且最终用户 (作念市商) 的平值 (虚值) 看涨期权需求可展望 S&P500 的陈述。
著作8
● 题目：The Role of Success and Failure in Fluid Teams: Evidence from the Motion Picture Industry
得胜与失败在流动团队中的作用：来自电影行业的笔据
● 作家：Suresh Muthulingam ， Kumar Rajaram
● 发表时候：2026-1-27
● 摘抄：
Many business settings involve fluid teams， where team members come together to work on a project， after which the team is disbanded. It is well-known that coordination can be challenging and affect the performance outcomes of fluid teams. The literature has studied how several facets of experience can facilitate learning and improve outcomes for fluid teams. However， the role of experience with success and failure and its effect on improving outcomes for fluid teams has remained unexplored. In this study， we use data from the motion picture industry to examine how the experience with success and failure resident within key members of a movie production team affects profitability. Our analysis of the data for 2，091 movies released in the United States between 1999 and 2018 reveals that a movie’s profitability depends on the production team’s history with success and failure. Additionally， we find that teams with a history of success result in movies with higher profits， whereas teams with a history of failure result in movies with lower profits. We also find that increased relative dispersion in the team’s experience does not affect the movie’s profitability. Further analysis of the composition of movie teams indicates that financial performance can be significantly impacted when movie teams are predominantly composed of members with a history of success or failure. We contribute by illustrating a new measure of team experience relevant for fluid teams and by providing insights on how to compose teams based on members’ experience with success and failure.
好多贸易环境触及流动团队，即团队成员为开展某样式而集合，并在样式结果后完毕。家喻户晓，配合责任可能具有挑战性，并会影响流动团队的绩效产出。现存文件仍是研究了教育的多个方面怎样促进流动团队的学习并改善其效果。然而，对于得胜与失败的教育的作用止境对改善流动团队效果的影响，尚未赢得探索。在本研究中，咱们足下电影行业的数据，查考了电影制作团队中枢成员所具备的得胜与失败教育怎样影响盈利能力。咱们对 1999 年至 2018 年间在好意思国上映的 2，091 部电影的数据进行了分析，结果露馅，一部电影的盈利能力取决于制作团队过往的成败阅历。此外，咱们发现，领有得胜历史的团队会带来更高利润的电影，而领有失败历史的团队则会导致电影利润较低。咱们还发现，团队教育中相对芜杂度的增多并不会影响电影的盈利能力。对电影团队组成的进一步分析标明，当电影团队主要由具有得胜或失败历史的成员组成时，其财务绩效会受到显耀影响。本文通过阐扬一种适用于流动团队的新的团队教育度量策划，并就怎样根据成员的成败教育来组建团队提供宗旨，从而作念出了孝敬。
著作9
● 题目：Dynamic Unraveling
动态阐发
● 作家：Joel P. Flynn
● 发表时候：2026-1-30
● 摘抄：
This paper studies price and liquidity dynamics in the presence of costly short-selling when uninformed traders have limited willingness-to-pay to trade securities. In this setting， unraveling and Bayesian social learning interact to produce a novel mechanism， dynamic unraveling: Unraveling that generates signals that lead to future unraveling. Applying the theory， I show how dynamic unraveling explains low-volume crashes: falls in the prices of securities on low or declining trading volume. In this context， short-selling restrictions can make low-volume crashes more likely by intensifying dynamic unraveling， but liquidity injections have the opposite effect.
本文研究了在卖空有本钱且非知情走动者对走动证券的支付意愿有限的情况下江南体育(JNsports)官网app下载，价钱和流动性的动态变化。在此设定下，阐发与贝叶斯社会学习相互作用，产生了一种新机制，即动态阐发：这是一种通过产生信号进而导致异日阐发的阐发历程。应用该表面，我展示了动态阐发怎样解释缩量崩盘：即在走动量低或下降的情况下证券价钱的下落。在此配景下，卖空限制会因加重动态阐发而增多缩量崩盘的可能性，而流动性注入则产生相背的效果。
米乐体育(M6Sports)官网入口
备案号: