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Corporate Carbon Reduction Pledges: An Effective Tool to Mitigate Climate Change?
In this article we first summarize the specific plans articulated by seven major corporations for reducing their Corporate Carbon Footprints (abbreviated as CCF from hereon). Our sample is not intended to be representative of the broader…
Cost Shielding in Executive Bonus Plans
Executive bonus plans often incorporate performance measures that exclude particular costs — a practice we refer to as “cost shielding.” We predict that boards use cost shielding to mitigate underinvestment and insulate new managers from the…
Estimating Experienced Racial Segregation in U.S. Cities Using Large-Scale GPS Data
We estimate a measure of segregation, experienced isolation, that captures individuals’ exposure to diverse others in the places they visit over the course of their days. Using Global Positioning System (GPS) data collected from smartphones, we…
Experimenting in Equilibrium
Classical approaches to experimental design assume that intervening on one unit does not affect other units. There are many important settings, however, where this non-interference assumption does not hold, eg, when running experiments on…
Measuring Risk Information
We develop a measure of how information events impact investors’ expectations of risk. The measure is broadly applicable and simple to implement. We derive it from an option‐pricing model, where investors anticipate an announcement that…
Mechanism Design with a Common Dataset
I propose a new approach to mechanism design: rather than assume a common prior belief, assume access to a common dataset. I restrict attention to incomplete information games where a designer commits to a policy and a single agent responds. I…
Organizational Power and Politics: The Narcissist’s Advantage?
Research has shown that grandiose narcissists often rise to positions of power in organizations, even though there is little evidence that they perform better. Indeed, some studies show various deleterious effects on both their companies and the…
Organizational Structure and Decision-Making in Corporate Venture Capital
This paper studies corporate venture capital (CVC) units of large US corporations to learn how they make decisions across several areas: internal organization of CVC units, relationships with parent companies, CVC unit objectives, investment…
Risky Corporate Bonds in 2021: A Bubble, or Rational Underwriting in a Low-Rate Environment?
In response to the pandemic, the Federal Reserve and US Treasury aggressively supported the corporate debt markets in 2020, both through easy monetary policy and direct participation. As the economy recovered, the Fed maintained an easy monetary…
Robust Benchmark Design
We model the design of a benchmark fixing as an estimator of fair market value. The fixing data are the transactions of agents whose profits depend on the fixing, implying incentives for manipulation. We derive the optimal linear fixing under an…
The Power of Referential Advice
Expert advice often extends beyond a simple recommendation, including information about alternative options. To explore the role of this referential advice, we enrich the expert’s informational advantage in a canonical model of communication with…
The Primacy of Communality in Humanization
Ascribing and denying humanity has profound consequences, often leading to devastating outcomes (e.g., violence, genocide). As such, understanding what, exactly, makes “someone human” becomes imperative. In this paper, we leverage the ubiquitous…
The Primacy of Gender: Gendered Cognition Underlies the Big Two Dimensions of Social Cognition
It is notable that across distinct, siloed, and disconnected areas of psychology (e.g., developmental, personality, social), there exist two dimensions (the “Big Two”) that capture the ways in which people process, perceive, and navigate their…
The Reduction of Race and Gender Bias in Clinical Treatment Recommendations Using Clinician Peer Networks in an Experimental Setting
Bias in clinical practice, in particular in relation to race and gender, is a persistent cause of healthcare disparities. We investigated the potential of a peer-network approach to reduce bias in medical treatment decisions within an…
Vehicle Maintenance Contracting in Developing Economies: The Role of Social Enterprise
Problem Definition
Difficulties in healthcare delivery in developing economies arise from poor road infrastructure of rural communities, where the bulk of the population resides. Although motorcycles are an effective means…
Where the Blame Lies: Unpacking Groups Shifts Judgments of Blame in Intergroup Conflict
Whom do individuals blame for intergroup conflict? Do people attribute responsibility for intergroup conflict to the in-group or the out-group? Theoretically integrating the literatures on intergroup relations, moral psychology, and judgment and…
Patient Engagement in System Redesign Teams: A Process of Social Identity
Studies demonstrate how patient roles in system redesign teams reflect a continuum of involvement and influence. This research shows the process by which patients move through this continuum and effectively engage within redesign projects.
…Contemporary U.S. Policymaking
This paper presents a model with a legislature, courts, and an executive that can take unilateral action. The legislature is polarized, and when government is divided, parties or factions bargain over legislation, understanding that failure can…
The Effects of Racial Status Threat on White Americans’ Support for Donald Trump: Results of Five Experimental Tests
Prior theory and research suggest that threats to the status of White Americans may increase support for Donald Trump. Consistent with this, one previous experiment conducted in early 2016 documented this effect (Major et al., 2018), finding that…
Are Narcissistic CEOs All That Bad?
The role that a CEO’s personality plays in corporate outcomes is a topic of considerable interest, particularly the relation between narcissistic CEOs and performance. Common perception is that CEO narcissism is highly prevalent, and considerable…