Analyzing historical sales data to draw conclusions on the underlying demand structure is a central foundation for sales planning, e.g. in assortment and revenue optimization. This contribution focuses on estimating the choice behavior of demand segments as well as their distribution from panel...

Do bond issuers successfully time the market? To answer this question, we compare market conditions on an issue day with conditions on days in a window around the issue day. We find that compared with windows of 21 days around issue days, bond issuers time the risk-free rate better than pure...

Using a comprehensive set of news stories, we find a stark difference in market responses to positive and negative price shocks accompanied by new information. When there is a news story about a firm, positive price shocks are followed by reversal, while negative ones result in drift. This is...