Working Papers

These papers are working drafts of research which often appear in final form in academic journals. The published versions may differ from the working versions provided here.

V. “Seenu” Srinivasan, David E. Bloom, Alexander Khoury
April 18, 2018
Yuliya Snihur, Llewellyn D.W. Thomas, Robert A. Burgelman
April 2018

Based on a longitudinal case study, this paper presents an ecosystem-level process model of the interlocking key activities of the business model disruptor, other ecosystem participants (customers, partners, media, analysts), and the incumbent. Together these...

Kathleen D. Vohs, Jennifer Aaker, Rhia Catapano
April 2018

People seek to spend time in positive experiences, enjoying and savoring. Yet there is no escaping negative experiences, from the mundane (e.g., arguing) to the massive (e.g., death of a child). Might negative experiences confer...

Mohammad Akbarpour, Suraj Malladi, Amin Saberi
April 2018

Identifying the optimal set of individuals to first receive information (`seeds’) in a social network is a widely-studied question in many settings, such as the diffusion of information, microfinance programs, and new technologies. Numerous studies...

Gunther Glenk, Stefan J. Reichelstein
April 2018

We examine the magnitude of synergistic effects in vertically integrated energy systems that arise when the external market for an intermediate input (electricity) is imperfect and the two subsystems are subject to operational volatility in...

Pedro M. Gardete, Yakov Bart
April 2018

Forthcoming at Marketing Science

We consider a persuasion setting in which the sender of a message tries to elicit a desired action from a receiver by means of a compelling argument. In order to...

Yuliya Snihur, Llewellyn D.W. Thomas, Robert A. Burgelman
April 2018

Despite increasing interest in business model innovation, there is only limited scholarship that examines how business model innovators present and explain their innovations to various stakeholders. As business model innovation often involves the creation of...

Peter A.E. Koudijs, Laura Salisbury, Gurpal Sran
March 28, 2018

We study whether banks are riskier if managers have less liability. We focus on New England between 1867 and 1880 and consider the introduction of marital property laws that limited liability for newly wedded bankers....

Elizabeth Blankespoor
March 20, 2018

I provide a general framework of firms’ financial communication process and investor response to information, moving from disclosure through dissemination to investor response and management response. I then discuss the entrance of social media into...

Unnati Narang, Venkatesh Shankar, Sridhar Narayanan
March 20, 2018

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...

Shai Bernstein, Timothy James McQuade, Richard R. Townsend
March 18, 2018

We investigate how the deterioration of household balance sheets affects worker productivity, and whether such effects mitigate or amplify economic downturns. To do so, we compare the output of innovative workers who were employed at...

Zhengyang Jiang, Arvind Krishnamurthy, Hanno Lustig
March 15, 2018

The convenience yield that foreign investors derive from holding U.S. Treasurys causes a failure of Covered Interest Rate Parity by driving a wedge between the yield on the foreign bonds and the currency-hedged yield on...

David Broockman, Christopher Skovron
March 14, 2018

The conservative asymmetry of elite polarization and the right-skewed “democratic deficit”—wherein policy is more conservative than majorities prefer on average—represent significant puzzles. We argue that such breakdowns in aggregate representation can arise because politicians systematically...

Darrell Duffie, Leif Andersen, Yang Song
March 13, 2018

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...

Charles M. C. Lee, Yuanyu Qu, Tao Shen
March 13, 2018

We study firms’ choice to go public through reverse mergers (RMs) versus initial public offerings (IPOs) in a regime with strict entry regulations. Using a manually-assembled data set from China, we show that Chinese RM...

Chris Hennessy, Akitada Kasahara, Ilya A. Strebulaev
March 12, 2018

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...

Reto Hofstetter, Harikesh S. Nair, Sanjog Misra
March 3, 2018

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...

Maria Dimakopoulou, Susan Athey, Guido W. Imbens
March 2, 2018

Although many contextual bandit algorithms have similar theoretical guarantees, the characteristics of real-world applications oftentimes result in large performance dissimilarities across algorithms. We study a consideration for the exploration vs. exploitation framework that does not...

Amir Goldberg, Sarah K. Stein
March 2018

Network models of diffusion predominantly think about cultural variation as a product of social contagion. But culture does not spread like a virus. In this paper, we

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Pedro M. Gardete, James M. Lattin
March 2018

In this paper we explore the determinants of profitability for coalition loyalty programs. We consider a setting in which each of two firms competing in one market may form a coalition loyalty program with one...