Publications

We consider a two-sided assignment market with agent types and a stochastic structure, similar to models used in empirical studies. We characterize the size of the core in such markets. Each agent has a randomly drawn productivity with respect to…

We consider a problem where an uninformed principal makes a timing decision interacting with an informed but biased agent. Because time is irreversible, the direction of the bias crucially affects the agent’s ability to credibly communicate…

Over the past decade, research and theory on heroism and heroic leadership has greatly expanded, providing new insights on heroic behavior. The Handbook of Heroism and Heroic Leadership brings together new scholarship in this burgeoning…

Our model, which is adapted from Feltham and Ohlson (Contemp Account Res 11:689–731, 1995) and Ohlson (Contemp Account Res 11:661–687, 1995) and extends Dechow and Dichev (Account Rev 77:35–59, 2002), characterizes the information about future…

Monin, Sawyer, and Marquez (2008) demonstrated that a rebel who refused to participate in a racially prejudiced decision task was derogated by actors who had themselves taken part in the task, but exalted by uninvolved observers. These authors…

This paper estimates the incidence of state corporate taxes on the welfare of workers, landowners, and firm owners using variation in state corporate tax rates and apportionment rules. We develop a spatial equilibrium model with imperfectly…

We study whether the corporate tax system provides incentives for risky firm investment. We analytically and empirically show two main findings: first, risk-taking is positively related to the length of tax loss periods because the loss rules…

We use a new dataset that links the TV ad consumption behavior of a panel of consumers with their product choice behavior to measure the co-determination of demand for products and advertising. Leveraging the variation in the data, we assess how…

On December 5 and 6, 2014, Stanford Graduate School of Business hosted the Causality in the Social Sciences Conference. The conference brought together several distinguished speakers from philosophy, economics, finance, accounting, and marketing…

Framework agreements (FAs) are procurement mechanisms commonly used by buying agencies around the world to satisfy demand that arises over a certain time horizon. This paper is one of the first in the literature that provides a formal…

We analyze the classic problem of sustaining trust when cheating and leaving trading partners is easy, and outside enforcement is difficult. We construct equilibria where individuals are loyal to smaller groups– communities– that allow…

The author analyzes the impact of online ads on the advertiser’s competitors, using data from randomized field experiments on a restaurant-search website. He finds that ads increase the chances of sales for nonadvertised restaurants significantly…

This paper develops a model of user adoption and use of virtual currency (such as Bitcoin), and focusing on the dynamics of adoption in the presence of frictions arising from exchange rate uncertainty. The theoretical model can be used…

Individual investors are active participants in the shareholder resolution process, filing approximately one quarter of the total number of shareholder resolutions voted on each year. Their activism, however, is controversial. Critics contend…

We survey 885 institutional venture capitalists (VCs) at 681 firms to learn how they make decisions across eight areas: deal sourcing; investment selection; valuation; deal structure; post-investment value-added; exits; internal firm organization…

There is ongoing debate about how prices paid to providers by Medicare Advantage plans compare to prices paid by fee-for-service Medicare. We used data from Medicare and the Health Care Cost Institute to identify the prices paid for hospital…

A seller wishes to sell multiple goods by a deadline, for example, the end of a season. Potential buyers enter over time and can strategically time their purchases. Each period, the profit-maximizing mechanism awards units to the buyers with the…

Research suggests that musical preferences are linked to personality, but this research has been hindered by genre-based theories and methods. We address this limitation using a novel method based on the actual attributes that people perceive…

The U.S.-to-China business-to-consumer e-commerce market, a large and expanding trade corridor, presents a sizable opportunity for U.S. merchants and logistics providers to grow their business. Several new logistics models developed by merchants…