We study the revenue-maximizing mechanism when a buyer’s value evolves endogenously because of learning-by-consuming. A seller sells one unit of a divisible good, while the buyer relies on his private, rough valuation to choose his first-stage consumption level. Consuming more leads to a more...

Photovoltaic (PV) semiconductor degrades in performance due to temperature rise. A super thin-conductive thermal absorber is therefore developed to regulate the PV working temperature by retrofitting the existing PV panel into the photovoltaic/thermal (PV/T) panel. This article presented the...

With the presence of both switching cost and network externality, this paper builds a two-stage model for competition between two platforms. In stage one, an incumbent platform controls the market as a monopolist and sets a price to acquire a user base. In stage two, a new platform enters the...

Distortion risk measure (DRM) plays a crucial role in risk measuring and managing, especially in insurance pricing. Various DRMs have been introduced but little is discussed about which DRM at hand should be chosen to address a decision maker (DM)'s risk attitude. This paper aims to fill out the...

Serfling (2016) examines how the increase in firing costs impacts the capital structure decisions of firms and hypothesizes that higher firing costs of labor lead to a decline in a firm’s financial leverage use by directly increasing its distress costs and indirectly lifting its operating...