Publications

The regression discontinuity (RD) design is popular because it provides a design-based estimate of the incumbency advantage. However, the RD estimate is “local”: it only identifies the effect in hypothetical elections with a 50-50 tie between the…

Under revision for Econometrica

This paper studies U.S. banks’ exposure to interest rate and credit risk. We exploit the factor structure in interest rates to represent many bank positions in terms of simple factor portfolios.…

Nowadays, millions of people around the world use social networking sites to express everyday thoughts and feelings. Many researchers have tried to make use of social media to study users’ online behaviors and psychological states. However,…

We study a setting of non-atomic routing in a network of m parallel links with asymmetry of information. While a central entity (such as a GPS navigation system) — a mediator hereafter — knows the…

The current paper connects anxiety about disease contamination to that about cultural contamination and the exclusionary behavior toward ethnic outgroups that it incites. We suggest that when individuals are exposed to disease fears, an epistemic…

We examine a life-cycle cost concept that applies to both manufacturing and service industries in which upfront capacity investments are essential. Borrowing from the energy literature, we refer to this cost measure as the Levelized Product Cost…

Much of intellectual history is punctuated by the flaring of intellectual outliers, small groups of thinkers who briefly, but decisively, influence the development of ideas, technologies, policies, or worldviews. To understand the flaring of…

In recent years, companies have begun to voluntarily disclose alternative measures of CEO compensation. These figures differ — sometimes significantly — from those reported in the summary compensation tables of the annual proxy. The motivation to…

Motivated by polar extremes of monopartisanship and nonpartisanship in existing literature on parties in legislatures, we introduce and analyze a more moderate theory of competitive partisan lawmaking. The distinguishing feature of competitive…

Bloodletting — the practice of letting blood out to cure a patient — was for centuries one of the main therapies in the west. We lay out three potential explanations for bloodletting’s cultural success:

• it was efficient,
• it…

The present research investigated a novel account of how normative influence varies across culture — whether there exist cultural differences in the motivation to adhere to social norms even when similar norms are prevalent across cultures.…

We estimate the spillovers of properties financed by the Low Income Housing Tax Credit (LIHTC) onto surrounding neighborhood residents. We nonparametrically estimate the impact of LIHTC development on nearby house prices by developing a new…

U.S. CEOs hold a large amount of equity that is not explicitly constrained by ownership guidelines or vesting requirements. Although the average CEO receives a risk premium in his annual pay for holding unconstrained equity, most CEOs hold more…

The random priority (RP) mechanism is a popular way to allocate n objects to n agents with strict ordinal preferences over the objects. In the RP mechanism, an ordering over the agents is selected uniformly at random; the…

Research suggests that finding and hiring the right workers may be as important to firms as managing workers after they join organizations.  However, hiring the right workers is difficult.  In this paper trial employment is examined as…

The tremendous costs of conflict have made humans resourceful not only at warfare but also at peacemaking. Although third parties have acted as peacemakers since the dawn of history, little is known about voluntary, informal third-party…

Why are employee loyalty and effort sometimes not reciprocated by employers? Five experimental studies tested the hypothesis that people feel less obligated to reciprocate in an organizational as contrasted with a personal context. Studies 1A and…

Language use is a psychologically rich, stable individual difference with well-established correlations to personality. We describe a method for assessing personality using an open-vocabulary analysis of language from social media. We compiled…

We study the calculation of exact p-values for a large class of non-sharp null hypotheses about treatment effects in a setting with data from experiments involving members of a single connected network. The class includes null hypotheses that…

This paper investigates the impact of individuals’ social ties at organizational entry on the formation of intraorganizational networks. When individuals enter organizations with one or more preentry relationships in place, I argue they form more…