Publications

Unravelling the complex dynamics of past symbolic behaviour is challenging using traditional archaeological approaches alone. Drawing on the cognitive sciences, we here present novel computational measures of the portable art of Mesolithic South…

This paper measures concentration in narrowly defined product markets for a broad range of consumer goods and services in the United States from 1994 to 2019. We document two main empirical facts. First, concentration levels are high. Of the…

Using a mandatory, purpose-designed Census Bureau survey of approximately 28,500 establishments, we provide new evidence on industrial AI adoption in US manufacturing. Despite widespread digitization, only 22.8 percent of plants report any AI use…

Third-party litigation finance is an increasingly popular practice in commercial litigation. Despite calls for mandated disclosure, litigation funders are mostly anonymous to defendants, judges and juries. We first present an equilibrium model of…

Despite their potential to advance financial inclusion and improve business outcomes, digital payment solutions have low adoption rates among retail merchants in developing economies. Prior interventions have tackled pre-purchase frictions such…

Personality Computing is a field at the intersection of Personality Psychology and Computer Science. Started in 2005, research in the field utilizes computational methods to understand and predict human personality traits. The expansion of the…

Much digital ink has been spilled recently (and no doubt will continue to be) on how Artificial Intelligence (AI) will reshape management and organizational processes. Some argue that AI will ultimately make managers obsolete. Others predict the…

Digital biomarkers (DBMs) are a new class of health indicators derived from digital technologies — including smartphones, wearable devices and ambient sensors — that enable continuous, real-time monitoring of signals in everyday settings. By…

A persistent puzzle throughout the cognitive and social sciences is how people manage to learn social conventions from the sparse and noisy behavioral data of diverse actors, without explicit instruction. Here, we show that the dominant theories…

This paper provides early evidence on the integration and impact of generative artificial intelligence (GenAI) in accounting at the accountant and task levels. Using survey data from 277 professional accountants, we document substantial…

What job should I take to maximize my impact potential, that is my potential to generate positive social impact? Which deal will maximize the impact return of my investment dollars? Which nonprofit will make the most of my donation? Can a well-…

In this Closer Look, we provide a detailed examination of the labor market for directorships among the senior executives of publicly traded U.S. companies with a focus on non-CEO-level executives. We find that directorships held by…

Bankruptcy insures consumers against large and unexpected wealth shocks. However, debtors may abuse this insurance. Indeed, close to 20% of consumer bankruptcy filings contain at least one material misstatement. I exploit the conditionally random…

Motivated by recent concerns surrounding the use of third-party pricing algorithms by competing firms, we study repeated Bertrand competition where market demand or the cost of serving the market is observed by an intermediary (or “algorithm”)…

Generative artificial intelligence (GAI) will likely alter many aspects of the financial reporting process and spawn a deep stream of academic research. We take an early step by examining the extent to which firms have begun using GAI in one…

Deceptive online networks are coordinated efforts that use identity deception to pursue strategic political or financial goals. During the US 2020 elections, these networks reached at least 37 million Facebook and 3 million Instagram users,…

Tax wash sale rules prohibit the recognition of capital losses when substantially identical securities are sold and immediately repurchased within short windows. This study examines whether institutional investors use exchange-traded funds (ETFs…

Multimodal AI systems have achieved remarkable performance across a broad range of real-world tasks, yet the mechanisms underlying visual-language reasoning remain surprisingly poorly understood. We report three findings that challenge prevailing…