Publications

One consequence of the proliferation of vote-by-mail (VBM) in certain areas of the United States is the opportunity for voters to cast ballots weeks before Election Day. Understanding the ensuing effects of VBM on late campaign information loss…

For three years after the typical developing country opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of seven. No such increase occurs in a…

Investing for retirement is one of the most consequential yet daunting decisions consumers face. We present a way to both aid and understand consumers as they construct preferences for retirement income. The method enables consumers to build…

The use of the World Wide Web to conduct surveys has grown rapidly over the past decade, raising concerns regarding data quality, questionnaire design, and sample representativeness. This research note focuses on an issue that has not yet been…

From a variant of Kuhn’s triangulation we derive a discrete version of the Global Newton Method that yields an epsilon-equilibrium of an N-player game and then sequentially reduces epsilon toward zero to obtain any desired precision or the best…

We provide evidence that firms with more transparent earnings enjoy a lower cost of capital. We develop an earnings transparency measure that captures cross-sectional and intertemporal variation in the extent to which earnings and change in…

We show that institutional shareholders of acquiring companies on average do not lose money around public merger announcements, because they hold substantial stakes in the targets and make up for the losses from the acquirers with the gains from…

Despite temptations to broaden its focus, the Rural Development Institute has remained single-mindedly devoted to its mission. As a result, the organization has helped 400 million poor farmers around the world take ownership of some 270…

We present the strategy diamond, which extends received strategic management theory by integrating the positional view and the resource-based view, the formulation and implementation of strategy, and the firms internal selection environment into…

This article presents the “strategy diamond,” which extends received strategic management theory by integrating the positional view and the resource-based view, the formulation and implementation of strategy, and the firm’s internal selection…

A player’s pure strategy is called relevant for an outcome of a game in extensive form with perfect recall if there exists a weakly sequential equilibrium with that outcome for which the strategy is an optimal reply at every information set it…

A product often has many attributes. The seller of the product may choose whether to disclose these attributes to consumers before their purchase. How do multiple attributes of the product jointly determine the sellers disclosure incentives? I…

This paper outlines the methods and applications related to the nascent area of empirical discrete games in marketing. Many key strategic decisions firms make involve discrete choices such as deciding the location of a new store, determining…

Recent movements to deprofessionalize American state legislatures have been driven partly by the notion that professional legislators spend more than their citizen counterparts. This article explores the relationship between legislative…

This paper examines a common assertion that customers in reward programs become “locked in” as they accumulate credits toward earning a reward. We define a measure of switching costs and use a dynamic structural model of demand in a reward…

We examine the APSR and the AJPS for the presence of publication bias due to reliance on the 0.05 significance level. Our analysis employs a broad interpretation of publication bias, which we define as the outcome that occurs when, for whatever…

Recent research shows that hourly payment affects decisions about time use in ways that disfavor uncompensated activities such as volunteering. This paper extends that argument by showing that the activation of money and economics as aspects of a…

We hypothesize that the structure of executive stock-based compensation helps to align managers’ payout choices with shareholders’ tax-related payout preferences. Specifically, stock options, which are not dividend-protected, can deter self-…

This paper studies an analyst’s forecasting strategy and a manager’s earnings management policy. When reporting earnings, the manager trades off the disutility he obtains from falling short of the analyst’s forecast against the costs of…