Publications

Households rely on financial advisors to make investment and savings decisions. Despite their importance, there have long been concerns that financial advisors are prone to misconduct, and research has shown that these concerns are not unfounded…

Belief change does not always lead to behavior change. This belief–behavior gap has received considerable attention, particularly in the context of misinformation. We expand upon ideas in the literature by offering additional insight derived from…

We analyze the efficiency and efficacy of human and intellectual capital investment to better understand the effects of social investment. Existing literature in the corporate setting lacks analysis on the impact of human and intellectual capital…

Why, when, and to whom do we attribute superhuman characteristics? Seven studies establish the positivity of superhumanization, show that Black Americans superhumanize their ingroup more than White Americans, and find that exposure to media…

What explains wealth and portfolio differences between Black and White Americans? We find that disparities in economic factors explain portfolios well, but only partly explain the wealth gap. In a dynamic setting, economic factors often change…

In collaboration with VolunteerMatch (VM)—the world’s largest online platform for connecting volunteers with volunteering opportunities—we designed and implemented a new display ranking algorithm. VM’s original ranking algorithm was intended to…

Developing accurate clinical prediction models is often bottlenecked by the difficulty of generating meaningful predictive features from unstructured data. While electronic health records (EHRs) contain rich narrative information, extracting a…

Generative AI needs automatic clinical text accuracy metrics, but none exist for echocardiography. To address this, we developed EchoGraph, a BERT-based model trained on 600 densely annotated echocardiography reports from the Mayo Clinic (2017),…

We address whether and why a firm’s operational effectiveness, OpEff, has information content for investors and what role that information plays in the price discovery process at quarterly earnings announcements. We measure OpEff using the cash…

Technology has an increasing influence over consumer lifestyles and behaviors that contribute to the rising prevalence of chronic disease. An opportunity therefore exists for consumer technology companies to use their outsized influence on…

This case study uses a hospital family safety reporting intervention, coproduced with key partners, with the aim to garner lessons for developing complex, hospital-based interventions. Health equity, communication science, health literacy, and…

This paper analyzes interactions between corporate governance and law enforcement practices, focusing on cases where deterrence is weak and harmful misconduct is profitable. We show how managerial compensation contracts, including stock-based…

In a patent privateering strategy, firms sell patents to a non-practicing entity (NPE) with the expectation that the NPE sues the seller’s rivals for patent infringement. We examine whether firms under competitive pressure and facing barriers to…

Policymakers often distort goods markets to effect redistribution—for example, via price controls, differential taxation, or in-kind transfers. We investigate the optimality of such policies alongside the (optimally-designed) income tax. In our…

In fall 2025, Stanford Graduate School of Business and the Governance of Organizations Working Group at the Hoover Institution at Stanford University hired Prolific to conduct a nationwide survey of 2,653 individual investors — broadly…

We show how to measure the welfare effects arising from increased data availability. When lenders have more data on prospective borrower costs, they can charge prices that are more aligned with these costs. This increases total social welfare and…

We propose a comprehensive model of how experiences are encoded and retrieved from memory. At the core of the model is a dynamic retrieval process incorporating two essential mechanisms: iterative retrieval, whereby information is sequentially…

We examine how patent disclosures influence technology classification decisions by patent examiners and how firms strategically tailor these disclosures to affect classification outcomes. Using a novel machine learning approach, we construct a…

We construct a measure of consumption-equivalent welfare for Black and White Americans that incorporates life expectancy, incarceration, consumption, leisure, and inequality. Based on this incomplete list of factors, welfare for Black Americans…

We use a play-by-play dataset from the game show “Jeopardy!” to study the hot hand phenomenon, whereby people appear to exhibit “hot” states of elevated performance in domains with repeat trials. We first demonstrate that Jeopardy contestants…