We compile a novel high-frequency, detailed geographic dataset on mass layoffs from U.S. state labor departments. Using recent advances in difference-in-difference estimation with staggered treatment, we find that locally-mandated stay-at-home orders issued March 16–22, 2020 triggered mass layoffs equal to half a percent of the population in just one week. Our findings contribute to explanations for why job loss in 2020 was synchronous and catastrophic, yet temporary.
{"title":"Pandemic Layoffs and the Role of Stay-at-Home Orders","authors":"Marianna Kudlyak, Erin L. Wolcott","doi":"10.2139/ssrn.4894607","DOIUrl":"https://doi.org/10.2139/ssrn.4894607","url":null,"abstract":"We compile a novel high-frequency, detailed geographic dataset on mass layoffs from U.S. state labor departments. Using recent advances in difference-in-difference estimation with staggered treatment, we find that locally-mandated stay-at-home orders issued March 16–22, 2020 triggered mass layoffs equal to half a percent of the population in just one week. Our findings contribute to explanations for why job loss in 2020 was synchronous and catastrophic, yet temporary.","PeriodicalId":21855,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141835536","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We study two important questions regarding trading dynamics in China: How do retail and institutional investors trade, and what are the underlying factors for these behaviors? Different from the United States, China's stock market has two prominent features: dominance of retail investors and active participation by the government. After reviewing nearly 100 previous studies, we reach three conclusions. First, there are substantial heterogeneity in retail investors. Small retail investors have low financial literacy, exhibit behavioral biases, and not surprisingly, negatively predict future returns, whereas large retail investors and institutions are capable of processing information and positively predict future returns. Second, the macro- and firm-level information environment in China is slowly but gradually improving, which greatly affects trading behaviors of different investors, especially the more sophisticated institutional investors and large retail investors. Finally, the Chinese government actively adjusts their regulations on the stock market to serve the dual goals of growth and stability. Many regulations are effective, while some may generate unintended consequences.
{"title":"Retail and Institutional Investor Trading Behaviors: Evidence from China","authors":"Lin Tan, Xiaoyan Zhang, Xinran Zhang","doi":"10.2139/ssrn.4620780","DOIUrl":"https://doi.org/10.2139/ssrn.4620780","url":null,"abstract":"We study two important questions regarding trading dynamics in China: How do retail and institutional investors trade, and what are the underlying factors for these behaviors? Different from the United States, China's stock market has two prominent features: dominance of retail investors and active participation by the government. After reviewing nearly 100 previous studies, we reach three conclusions. First, there are substantial heterogeneity in retail investors. Small retail investors have low financial literacy, exhibit behavioral biases, and not surprisingly, negatively predict future returns, whereas large retail investors and institutions are capable of processing information and positively predict future returns. Second, the macro- and firm-level information environment in China is slowly but gradually improving, which greatly affects trading behaviors of different investors, especially the more sophisticated institutional investors and large retail investors. Finally, the Chinese government actively adjusts their regulations on the stock market to serve the dual goals of growth and stability. Many regulations are effective, while some may generate unintended consequences.","PeriodicalId":21855,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141662038","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Julian De Freitas, A. K. Uğuralp, Zeliha Uğuralp, Puntoni Stefano
Chatbots are now able to engage in sophisticated conversations with consumers in the domain of relationships, providing a potential coping solution to widescale societal loneliness. Behavioral research provides little insight into whether these applications are effective at alleviating loneliness. We address this question by focusing on AI companions applications designed to provide consumers with synthetic interaction partners. Studies 1 and 2 find suggestive evidence that consumers use AI companions to alleviate loneliness, by employing a novel methodology for fine tuning large language models to detect loneliness in conversations and reviews. Study 3 finds that AI companions successfully alleviate loneliness on par only with interacting with another person, and more than other activities such watching YouTube videos. Moreover, consumers underestimate the degree to which AI companions improve their loneliness. Study 4 uses a longitudinal design and finds that an AI companion consistently reduces loneliness over the course of a week. Study 5 provides evidence that both the chatbots' performance and, especially, whether it makes users feel heard, explain reductions in loneliness. Study 6 provides an additional robustness check for the loneliness alleviating benefits of AI companions.
{"title":"AI Companions Reduce Loneliness","authors":"Julian De Freitas, A. K. Uğuralp, Zeliha Uğuralp, Puntoni Stefano","doi":"10.2139/ssrn.4893097","DOIUrl":"https://doi.org/10.2139/ssrn.4893097","url":null,"abstract":"Chatbots are now able to engage in sophisticated conversations with consumers in the domain of relationships, providing a potential coping solution to widescale societal loneliness. Behavioral research provides little insight into whether these applications are effective at alleviating loneliness. We address this question by focusing on AI companions applications designed to provide consumers with synthetic interaction partners. Studies 1 and 2 find suggestive evidence that consumers use AI companions to alleviate loneliness, by employing a novel methodology for fine tuning large language models to detect loneliness in conversations and reviews. Study 3 finds that AI companions successfully alleviate loneliness on par only with interacting with another person, and more than other activities such watching YouTube videos. Moreover, consumers underestimate the degree to which AI companions improve their loneliness. Study 4 uses a longitudinal design and finds that an AI companion consistently reduces loneliness over the course of a week. Study 5 provides evidence that both the chatbots' performance and, especially, whether it makes users feel heard, explain reductions in loneliness. Study 6 provides an additional robustness check for the loneliness alleviating benefits of AI companions.","PeriodicalId":21855,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141835754","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Isaac Onyam, Manasseh Adorm Otabil, Ekow Sekyi Etwire, Kenneth Kwansa-Aidoo, S. Adadey, William Ekloh
Trypanosomiasis is an endemic parasitic disease affecting both humans and animal with a severe negative impact on food production in almost all parts of the world. This review seeks to summarize the history of trypanosomiasis and examine the prevalence of trypanosome infection in animals and its effects on food production. A narrative review was conducted on the history of trypanosomiasis. The literature search was conducted on different databases, and selected articles were screened, data extracted, and analyzed. It is believed that trypanosomiasis has been in existence for several decades dating as far as about 2500 BC during the era of the Egyptian kingdom. Africa was found to have the most common cases of animal trypanosomiasis, with 36 out of 40 articles reporting cases. Cattle among other mammals are the most studied animals and they are the most affected. Hence, milk and meat production are greatly affected by trypanosomiasis. The age of animals and the feed provided to animals also played a role in the prevalence and distribution of the pathogen. This review reveals a wide geographical distribution and diverse host range of trypanosome species. The study also highlights the severity of trypanosomiasis and its impact on food production.
{"title":"A Narrative Review on Trypanosomiasis and its Effect on Food Production","authors":"Isaac Onyam, Manasseh Adorm Otabil, Ekow Sekyi Etwire, Kenneth Kwansa-Aidoo, S. Adadey, William Ekloh","doi":"10.2139/ssrn.4831532","DOIUrl":"https://doi.org/10.2139/ssrn.4831532","url":null,"abstract":"Trypanosomiasis is an endemic parasitic disease affecting both humans and animal with a severe negative impact on food production in almost all parts of the world. This review seeks to summarize the history of trypanosomiasis and examine the prevalence of trypanosome infection in animals and its effects on food production. A narrative review was conducted on the history of trypanosomiasis. The literature search was conducted on different databases, and selected articles were screened, data extracted, and analyzed. It is believed that trypanosomiasis has been in existence for several decades dating as far as about 2500 BC during the era of the Egyptian kingdom. Africa was found to have the most common cases of animal trypanosomiasis, with 36 out of 40 articles reporting cases. Cattle among other mammals are the most studied animals and they are the most affected. Hence, milk and meat production are greatly affected by trypanosomiasis. The age of animals and the feed provided to animals also played a role in the prevalence and distribution of the pathogen. This review reveals a wide geographical distribution and diverse host range of trypanosome species. The study also highlights the severity of trypanosomiasis and its impact on food production.","PeriodicalId":21855,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141664512","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Within a given subculture or industry, knowledge proliferates insofar as those outside the sphere of knowledge lack an understanding of the terms, concepts, and ideas specific to the domain. Moreover, collaborative work within large industries suffers from a lack of understanding between collaborators and from the use of nonstructured legacy knowledge artifacts. The aerospace and defense industries are no exception; indeed, they present examples of some of the largest industries with extensive projects and a diverse array of applications. This paper presents a state-of-the-art literature review of knowledge management and knowledge collaboration systems in the aerospace and defense industries. Based on the review findings, a proposal for an extensible and queryable knowledge management system for aerospace industry workspaces using the Web Ontology Language of the Semantic Web is presented.
{"title":"Leveraging Linked Data for Knowledge Management: A Proposal for the Aerospace Industry","authors":"Tyler Procko, Omar Ochoa","doi":"10.2139/ssrn.4703237","DOIUrl":"https://doi.org/10.2139/ssrn.4703237","url":null,"abstract":"Within a given subculture or industry, knowledge proliferates insofar as those outside the sphere of knowledge lack an understanding of the terms, concepts, and ideas specific to the domain. Moreover, collaborative work within large industries suffers from a lack of understanding between collaborators and from the use of nonstructured legacy knowledge artifacts. The aerospace and defense industries are no exception; indeed, they present examples of some of the largest industries with extensive projects and a diverse array of applications. This paper presents a state-of-the-art literature review of knowledge management and knowledge collaboration systems in the aerospace and defense industries. Based on the review findings, a proposal for an extensible and queryable knowledge management system for aerospace industry workspaces using the Web Ontology Language of the Semantic Web is presented.","PeriodicalId":21855,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141663188","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Delegation in Hiring: Evidence from a Two-Sided Audit","authors":"Bo Cowgill, P. Perkowski","doi":"10.2139/ssrn.4828413","DOIUrl":"https://doi.org/10.2139/ssrn.4828413","url":null,"abstract":"","PeriodicalId":21855,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141663504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In the light of great importance of curves and their frames in many different branches of science, especially differential geometry as well as geometric properties and their uses in various fields, we are interested here to study a special kind of curves called rectifying curves. We consider some characterizations of a non-lightlike curve has a spacelike or timelike rectifying plane in pseudo-Euclidean space E13. Then, we demonstrate that the proportion of curvatures of any spacelike or timelike rectifying curve is a non-constant linear function of the arc length parameter s. Finally, we defray a computational example to support our main findings.
鉴于曲线及其框架在许多不同的科学分支，特别是微分几何以及几何特性及其在各个领域的应用中的重要性，我们有兴趣在此研究一种特殊的曲线，即整定曲线。我们考虑了在伪欧几里得空间 E13 中具有空间或时间整流平面的非光样曲线的一些特征。然后，我们证明了任何空间或时间整流曲线的曲率比例都是弧长参数 s 的非恒定线性函数。
{"title":"Geometrical Analysis of Spacelike and Timelike Rectifying Curves and their Applications","authors":"M. K. Saad","doi":"10.2139/ssrn.4789269","DOIUrl":"https://doi.org/10.2139/ssrn.4789269","url":null,"abstract":"In the light of great importance of curves and their frames in many different branches of science, especially differential geometry as well as geometric properties and their uses in various fields, we are interested here to study a special kind of curves called rectifying curves. We consider some characterizations of a non-lightlike curve has a spacelike or timelike rectifying plane in pseudo-Euclidean space E13. Then, we demonstrate that the proportion of curvatures of any spacelike or timelike rectifying curve is a non-constant linear function of the arc length parameter s. Finally, we defray a computational example to support our main findings.","PeriodicalId":21855,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141665133","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study explores the polarization of news content shared on Facebook compared with email using data from the New York Times’ Most Emailed and Most Shared lists over 2.5 years. Employing latent Dirichlet allocation and large language models (LLMs), we find that highly polarized articles are more likely to be shared on Facebook (versus email), even after accounting for factors like topics, emotion, and article age. Additionally, distinct topic preferences emerge, with social issues dominating Facebook shares and lifestyle topics prevalent in emails. Contrary to expectations, political polarization of articles shared on Facebook did not escalate post-2020 election. We introduce a novel approach to measuring polarization of text content that leverages generative artificial intelligence models, like ChatGPT, and it is both scalable and cost effective. This research contributes to the evolving intersection of LLMs, social media, and polarization studies, shedding light on descriptive patterns of content dissemination across different digital channels. This paper was accepted by Duncan Simester, marketing. Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mnsc.2023.04134 .
{"title":"From Feeds to Inboxes: A Comparative Study of Polarization in Facebook and Email News Sharing","authors":"Hema Yoganarasimhan, Irina Iakovetskaia","doi":"10.2139/ssrn.4666856","DOIUrl":"https://doi.org/10.2139/ssrn.4666856","url":null,"abstract":"This study explores the polarization of news content shared on Facebook compared with email using data from the New York Times’ Most Emailed and Most Shared lists over 2.5 years. Employing latent Dirichlet allocation and large language models (LLMs), we find that highly polarized articles are more likely to be shared on Facebook (versus email), even after accounting for factors like topics, emotion, and article age. Additionally, distinct topic preferences emerge, with social issues dominating Facebook shares and lifestyle topics prevalent in emails. Contrary to expectations, political polarization of articles shared on Facebook did not escalate post-2020 election. We introduce a novel approach to measuring polarization of text content that leverages generative artificial intelligence models, like ChatGPT, and it is both scalable and cost effective. This research contributes to the evolving intersection of LLMs, social media, and polarization studies, shedding light on descriptive patterns of content dissemination across different digital channels. This paper was accepted by Duncan Simester, marketing. Supplemental Material: The online appendix and data files are available at https://doi.org/10.1287/mnsc.2023.04134 .","PeriodicalId":21855,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141663931","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We establish a verification theorem, inspired by those existing in stochastic control, to demonstrate how a pair of progressively measurable controls can form a Nash equilibrium in a stochastic zero-sum differential game. Specifically, we suppose that a pathwise-type Isaacs condition is satisfied together with the existence of what is termed a quasi-strong solution to the Bellman-Isaacs (BI)equations. In that case we are able to show that the value of the game is achieved and corresponds exactly to the unique solution of the BI equations. Those have also been applied for improving a well-known verification theorem in stochastic control theory. In so doing, we have implemented new techniques of stochastic calculus via regularizations, developing specific chain rules.
我们受随机控制领域现有定理的启发，建立了一个验证定理，证明一对逐步可测的控制如何在随机零和微分博弈中形成纳什均衡。具体来说，我们假设满足路径型艾萨克斯条件，同时存在所谓的贝尔曼-艾萨克斯方程（BI）的准强解。在这种情况下，我们就能证明博弈的价值已经实现，并且与 BI 方程的唯一解完全一致。我们还将这些应用于改进随机控制理论中一个著名的验证定理。在此过程中，我们通过正则化实现了随机微积分的新技术，并开发了特定的链式规则。
{"title":"Verification Theorem Related to a Zero Sum Stochastic Differential Game Via Fukushima-Dirichlet Decomposition","authors":"Carlo Ciccarella, Francesco Russo","doi":"10.2139/ssrn.4787977","DOIUrl":"https://doi.org/10.2139/ssrn.4787977","url":null,"abstract":"We establish a verification theorem, inspired by those existing in stochastic control, to demonstrate how a pair of progressively measurable controls can form a Nash equilibrium in a stochastic zero-sum differential game. Specifically, we suppose that a pathwise-type Isaacs condition is satisfied together with the existence of what is termed a quasi-strong solution to the Bellman-Isaacs (BI)equations. In that case we are able to show that the value of the game is achieved and corresponds exactly to the unique solution of the BI equations. Those have also been applied for improving a well-known verification theorem in stochastic control theory. In so doing, we have implemented new techniques of stochastic calculus via regularizations, developing specific chain rules.","PeriodicalId":21855,"journal":{"name":"SSRN Electronic Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-07-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141667516","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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