Working Papers

Latest Working Papers

New Paper: The Role of Large Language Models in Educational Simulations

Mack Institute Research Assistant Lennart Meincke and Wharton Associate Professor of Management Andrew Carton have released a new working paper in our series of working papers on ChatGPT spearheaded by Mack Faculty Director Christian Terwiesch. The new paper, entitled “Beyond Multiple Choice: The Role of Large Language Models in Educational Simulations,” compares feedback on student ...Read More

New Paper: Increasing AI Idea Variance

Mack Institute Research Assistant Lennart Meincke, Wharton Professor Ethan Mollick and Mack Institute Co-Director and Wharton Professor Christian Terwiesch have published the next in Terwiesch’s series of working papers on ChatGPT. The new paper evaluates how LLMs can be used for idea generation and explores methods to increase the novelty, quality and dispersion of AI-generated ...Read More

Capability-Enhancing Foreign Investments, and Evolution of Corporate Scope In Software Services Offshore Outsourcing: Market Reactions and Implications for Competitive Advantage

Working Papers

How does the stock market react to competitive actions by firms and their rivals? In this study we empirically explore capability-seeking investments by firms from different strategic groups within an industry and examine their impact on rival firms in the competitive context of global software services. Read More

Are ETFs better than Mutual Funds?

Working Papers

I study investors’ trade-off between ETFs and open-ended mutual funds in the presence of idiosyncratic liquidity risk and aggregate uncertainty. Based on a portfolio choice model, I show that ETFs and mutual funds provide liquidity at different maturities. Read More

Online Learning with Randomized Neural Networks

Working Papers

This project adapts online learning techniques to unstructured data, focusing on neural networks. We posit a non-parametric multi-armed bandit algorithm with context that uses a neural network for its underlying function approximation. We theoretically analyze and prove guarantees on the regret under this algorithm Read More

Implications of Revenue Models and Technology for Content Moderation Strategies

Working Papers

This paper develops a theoretical model to study the economic incentives for a social media platform to moderate user-generated content. We show that a self-interested platform can use content moderation as an effective marketing tool to expand its installed user base, to increase the utility of its users, and to achieve its positioning as a ...Read More

Towards a Causal Theory and Test of Network Effects: Structural Holes, Alliance-Network Externalities, and Organizational Innovation

Working Papers

We investigate whether the effect of network position on innovation is causal or spurious. Although empirical evidence demonstrates that certain structural positions in alliance networks (e.g. structural holes) affect firm innovation, it is hard to disentangle the factors allowing a firm to put itself in a certain position from the innovation outcomes that stem from ...Read More

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