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Journal Article

How Should We Think about Replicating Observational Studies? A Reply to Fowler and Montagnes

Matthew H. Graham, Gregory A. Huber, Neil Malhotra, Cecilia Hyunjung Mo
The Journal of Politics January2023 Vol. 85 Issue 1

In their reply to our article, “Irrelevant Events and Voting Behavior,” Fowler and Montagnes reanalyze our replication study of college football’s effect on election outcomes. Although we agree with Fowler and Montagnes that the evidence…

Journal Article

How Tilly's WUNC Works: Bystander Evaluations of Social Movement Signals Lead to Mobilization

Erica Bailey, Dan Wang, Sarah A. Soule, Hayagreeva Rao
American Journal of Sociology January2023 Vol. 128 Issue 4 Pages 1206–1262.

Social movements must mobilize participation from bystanders to survive, yet there is little research on how bystanders’ evaluations of social movements predict their likelihood to join. Charles Tilly offered a four-part theoretical “scorecard”…

Working Paper

Investor Composition and Overreaction

Michael Blank, Spencer Yongwook Kwon, Johnny Tang
January2023

Do stock price run-ups predictably revert? We develop a model of financial markets with two types of investors: rational investors and “oversensitive” investors who react excessively to salient public news. The model yields a summary statistic…

Journal Article

Irrelevant Events and Voting Behavior: Replications Using Principles from Open Science

Matthew H. Graham, Gregory A. Huber, Neil Malhotra, Cecilia Hyunjung Mo
The Journal of Politics January2023 Vol. 85 Issue 1

How well do voters hold politicians accountable? Although a long-standing research tradition claims that elections are effective tools for the sanctioning and selection of leaders, a more recent literature argues that voters often reward and…

Journal Article

Offline Multi-Action Policy Learning: Generalization and Optimization

Zhengyuan Zhou, Susan Athey, Stefan Wager
Operations Research January2023 Vol. 71 Issue 1 Pages 1–395.

In many settings, a decision maker wishes to learn a rule, or policy, that maps from observable characteristics of an individual to an action. Examples include selecting offers, prices, advertisements, or emails to send to consumers, choosing a…

Working Paper

Organizational Capacity and Project Dynamics

Dana Foarta, Michael M. Ting
January2023

This paper provides a dynamic theory of the effects of organizational capacity on public policy. Consistent with prevailing accounts, a bureaucratic organization with higher capacity, i.e., a better ability to get things done, is more likely to…

Journal Article

Pledge-And-Review Bargaining

Bård Harstad
Journal of Economic Theory January2023 Vol. 207

This paper presents a novel dynamic bargaining game where every party is proposing only its own contribution, before all pledges must be unanimously approved. I show that, with uncertain tolerance for delay, each equilibrium pledge maximizes an…

Journal Article

Social Norms and Behavior Change: The Interdisciplinary Research Frontier

Cristina Bicchieri, Eugen Dimant, Michele J. Gelfand, Silvia Sonderegger
Journal of Economic Behavior & Organization January2023 Vol. 205 Pages A4–A7.

Where there is behavior there are social norms. Social norms are a key feature of societies, and their adherence is crucial to sustaining social order. This special issue brings together research at the interdisciplinary research frontier…

Working Paper

Sophisticated Consumers with Inertia: Long-Term Implications from a Large-Scale Field Experiment

Klaus M. Miller, Navdeep S. Sahni, Avner Strulov-Shlain
January2023

Consumer inertia, the tendency to remain inactive, is a robust and well-documented phenomenon. However, if consumers are aware of their future inertia they can act to mitigate its effects on their outcomes. Using a large-scale randomized field…

Journal Article

The Dynamics of Integration and Integrated Care: An Exploratory Study of Physician Organizations

Jonathan R. Clark, Maike Tietschert, Michaela Kerrissey, Mark Friedberg, Sara Singer
Health Care Management Review January2023 Vol. 48 Issue 1 Pages 92–108.

Background

Substantial variation exists in how well health care is integrated, even across similarly structured organizations, yet research about what physician organizations (POs) do that enables or inhibits integrated care is limited…

Book

The Fiscal Theory of the Price Level

John H. Cochrane
Princeton University Press January2023

Where do inflation and deflation ultimately come from? The fiscal theory of the price level offers a simple answer: Prices adjust so that the real value of government debt equals the present value of taxes less spending. Inflation breaks out when…

Journal Article

What We (Do Not) Know About Punishment Across Organizational Boundaries

Erin Frey, Gabrielle S. Adams, Jeffrey Pfeffer
Journal of Management January2023 Vol. 49 Issue 1 Pages 196–236.

Though organizational scholars have studied punishment for decades, recent examples of punishment in organizations cannot be fully explained by the scholarly literature. This may be because much of our prior understanding of punishment has been…

Journal Article

When Should Control Be Shared?

Eva M. Meyersson Milgrom, Paul R. Milgrom, Ravi Singh
Management Science January2023 Vol. 69 Issue 1 Pages 404–418.

A common pattern of control in firms is for management to retain a broad set of rights, whereas the remaining stakeholders’ contracts provide them with targeted veto rights over specific classes of decisions. We explain this pattern of control…

Journal Article

Arbitration with Uninformed Consumers

Mark Egan, Gregor Matvos, Amit Seru
Review of Economic Studies (forthcoming) 2023

This paper studies the impact of the arbitrator selection process on consumer outcomes. Using data from consumer arbitration cases in the securities industry over the past two decades, where we observe detailed information on case characteristics…

Journal Article

Asymmetric Disclosure, Noise Trade, and Firm Valuation

Davide Cianciaruso, Iván Marinovic, Kevin Smith
The Accounting Review 2023 Vol. 98 Issue 5 Pages 215–240.

We study the impact of asymmetric (i.e., conservative or aggressive) disclosure on a firm’s price in the classic setting in which its stock is traded by risk-averse investors and noise or liquidity traders. We show that asymmetric accounting…

Book Chapter

Attitudinal advocacy: Contemporary insights and new questions

Mohamed A. Hussein, Zakary Tormala
Handbook of Consumer Psychology (2nd Edition) Cambridge Press Cambridge 2023 Pages 7–27.
Journal Article

Bad Apples in Symmetric Repeated Games

Takuo Sugaya, Alexander Wolitzky
Theoretical Economics 2023 Vol. 18 Issue 4 Pages 1345–1373.

We study large-population repeated games where players are symmetric but not anonymous, so player-specific rewards and punishments are feasible. Players may be commitment types who always take the same action. Even though players are not…

Other Publication

Banks and Financial Crises: Contributions of Ben Bernanke, Douglas Diamond, and Philip Dybvig

Zhiguo He, Yunzhi Hu
The Scandinavian Journal of Economics 2023 Vol. 125 Issue 3 Pages 553–583.

The 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded to Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig “for research on banks and financial crises”. This article surveys the contributions of the…

Journal Article

Bias-Variance Tradeoffs for Designing Simultaneous Temporal Experiments

Ruoxuan Xiong, Alex Chin, Sean Taylor
Proceedings of The KDD’23 Workshop on Causal Discovery, Prediction and Decision 2023 Vol. PMLR 218 Pages 115–131.

We study the analysis and design of simultaneous temporal experiments, where a set of interventions are applied concurrently in continuous time, and outcomes are measured on a sequence of events observed in time. As a motivating setting, suppose…

Data Spotlight

California Latina-Owned Businesses: 2022 State of Latino Entrepreneurship

Barbara Gomez-Aguinaga, Jonathan Furszyfer, Jerry I. Porras, Paul Oyer
State of Latino Entrepreneurship Regional Insights Stanford Latino Entrepreneurship Initiative 2023

The Stanford Latino Entrepreneurship Initiative surveyed 10,000 employer businesses in 2022 as part of its annual national survey to assess the current state of U.S. Latino entrepreneurship. We have compiled some of the most pressing insights…