Working Papers

Over half of all shopping journeys start with the mobile channel. In particular, the presence of a branded mobile app significantly influences shopping across channels. However, a majority of app users decrease app usage or...

Firm entry plays an important role in the amplification and propagation of aggregate economic shocks. In this paper, we study the characteristics of the actual individuals who drive firm entry response to aggregate shocks, the...

We demonstrate that the funding value adjustments (FVAs) of major dealers are debt-overhang costs to their shareholders. In order to maximize shareholder value, dealer quotations therefore adjust for FVAs. Our case examples include interest-rate swap...

Absent theoretical guidance, empiricists have been forced to rely upon numerical comparative statics from constant tax rate models in formulating testable implications of tradeoff theory in the context of natural experiments. We fill the theoretical...

Crowdsourced innovation platforms that enable organizations to outsource ideation to parties external to the firm are proliferating. In many cases, the platforms use open contests that allow the free exchange of ideas with the goal...

Deaton and Cartwright (DC2017 from hereon) view the increasing popularity of randomized experiments in social sciences with some skepticism. They are concerned about the quality of the inferences in practice, and fear that researchers may...

Recent scandals over the manipulation of LIBOR, foreign exchange benchmarks, and other financial benchmarks have spurred policy discussions over their appropriate design. We characterize the optimal fixing of a benchmark as an estimator of a...

Draft coming soon.