Cú sốc tạm thời, sự chú ý hạn chế và quyết định ra khỏi thị trường của một doanh nghiệp

Avi Goldfarb1, Mo Xiao2
1Rotman School of Management, University of Toronto, Toronto, Canada
2[Eller College of Management, University of Arizona, Tucson, USA]

Tóm tắt

Bài báo này xem xét sự xuất hiện của sự chú ý hạn chế trong môi trường kinh doanh có nhiều rủi ro: một chủ quán bar có thể không thể loại bỏ các cú sốc tạm thời khỏi các tín hiệu lợi nhuận ồn ào khi quyết định có nên rời bỏ hay không. Kết hợp dữ liệu theo tháng trong 24 năm về doanh thu rượu từ mọi quán bar ở Texas với dữ liệu thời tiết, chúng tôi tìm thấy bằng chứng cho thấy các chủ quán chưa có kinh nghiệm và ở xa có thể phản ứng thái quá đối với thành phần tạm thời của doanh thu so với thành phần bền vững. Phản ứng không đối xứng này có vẻ như bị giảm nhẹ dưới những biến động doanh thu cao hơn. Chúng tôi lập mô hình cấu trúc và ước lượng nhằm tạo ra khả năng phân bổ sự chú ý của các chủ sở hữu với chi phí tư duy khác nhau. Dưới những giả định của mô hình, chúng tôi phát hiện rằng 3.9% quán bar đưa ra quyết định ra khỏi thị trường không chính xác do sự chú ý hạn chế. Vì các quyết định ra khỏi thị trường là không thể đảo ngược và mang tính vĩnh viễn, những sai lầm nhỏ khi diễn giải tín hiệu lợi nhuận có thể dẫn đến thiệt hại phúc lợi lớn cho các doanh nhân.

Từ khóa

#sự chú ý hạn chế #cú sốc tạm thời #quyết định kinh doanh #lợi nhuận #mô hình cấu trúc

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