In this paper, we propose the concepts of substitutability and complementarity in discrete choice models. These concepts concern whether the choice probability of one alternative in a choice model increases or decreases with the utility of another alternative, and they play important roles in...

In this paper, we study the relation between several well known classes of discrete choice models, namely the random utility model (RUM), the representative agent model (RAM) and the semi-parametric choice model (SCM). Using a welfare based model as an intermediate, we show that the RAM and the...

Network externality arises when the utility of a product depends not only on its attributes, but also on the number of consumers who purchase the same product. In this paper, we propose and analyze consumer choice models that endogenize such network externality. We first characterize the choice...

We consider a queueing system with multiple Poisson arrival queues and a single batch server that has infinite capacity and a fixed service time. The problem is to allocate the server at each moment to minimize the long-run average waiting cost. We propose a Cost-Arrival Weighted (CAW) policy...

This paper studies whether and how controlling shareholders’stock pledge affects corporate fraudulence. We find that both the pledge behavior and the pledge ratio of the controlling shareholders are positively associated with future corporate fraudulence. The results are robust after...