Publications

A rising share of employees now regularly engage in working from home, but there are concerns this can lead to “shirking from home.” We report the results of a WFH experiment at Ctrip, a 16,000-employee, NASDAQ-listed Chinese travel agency. Call…

This research examines how individuals’ relationship with others sharing the pursuit of the same individual goal may change from the early to later stages of the pursuit. In one qualitative field study, one lab study, and a 7-day field experiment…

This paper examines the economic consequences of institutional investors outsourcing research and voting decisions in public company elections to proxy advisory firms. We investigate the implications of these decisions in the context of…

In an attempt to explain the stability of hierarchy, we focus on the perspective of the powerless and how a subjective sense of dependence leads them to imbue the system and its authorities with legitimacy. In Study 1, we found in a nationally…

Statistical default models, widely used to assess default risk, fail to account for a change in the relations between different variables resulting from an underlying change in agent behavior. We demonstrate this phenomenon using data on…

Institutional investors are highly dissatisfied with the quality of information that they receive about corporate governance policies and practices in the annual proxy. Across the board, they want proxies to be shorter, more concise, more candid…

Using a large multi-country multi-industry sample of over 158,000 companies, the early-stage company sector is documented to have sizable destruction of revenues and jobs and as well as sizable gross creation of revenues and jobs. The…

Statistical default models, widely used to assess default risk, fail to account for a change in the relations between different variables resulting from an underlying change in agent behavior. We demonstrate this phenomenon using data on…

While new biologics have revolutionized the treatment of age-related macular degeneration—the leading cause of severe vision loss among older adults—these new drugs have also raised concerns over the economic impact of medical innovation. The two…

We estimate how households trade off immediate costs and uncertain future benefits that occur in the very long run, 100 or more years away. We exploit a unique feature of housing markets in the United Kingdom and Singapore, where residential…

This article studies the interplay of U.S. primary and general elections. I examine how the nomination of an extremist changes general-election outcomes and legislative behavior in the U.S. House, 1980–2010, using a regression discontinuity…

Judging others’ personalities is an essential skill in successful social living, as personality is a key driver behind people’s interactions, behaviors, and emotions. Although accurate personality judgments stem from social-cognitive skills,…

Which budgetary institutions result in efficient provision of public goods? We analyze a model with two parties bargaining over the allocation to a public good each period. Parties place different values on the public good, and these…

Conflict situations present interaction partners with opportunities to behave cooperatively or competitively. Conflict templates (CTs) capture interaction partners’ perceptions of the relationships between their actions and outcomes. Study 1…

Yes, it did. We use exogenous variation in banks’ incentives to conform to the standards of the Community Reinvestment Act (CRA) around regulatory exam dates to trace out the effect of the CRA on lending activity. Our empirical strategy compares…

In Morrison v. National Australia Bank Ltd., the U.S. Supreme Court limited investors’ ability to bring private Rule 10b-5 securities fraud actions to cases involving securities purchased on a U.S. stock exchange or otherwise purchased in the…

Within organizational theory, the term intergroup relations refers to individual interactions involving members from different groups, as well as the collective behavior of groups in interaction with other groups at either the intra- or inter-…

This paper develops a dynamic two-country neoclassical stochastic growth model with incomplete markets. Short-term credit flows can be excessive and reverse suddenly. The equilibrium outcome is constrained inefficient due to pecuniary…

Older wealthholders spend down assets slowly. To study this pattern, the paper introduces health-dependent utility into a model in which different preferences for bequests, expenditures when in need of long-term care (LTC), and ordinary…

The current paper investigates two basic strategies that men use to recover from masculinity threats: (i) avoiding stereotypically feminine preferences and (ii) exaggerating their masculinity. In two experiments, males were either given false…