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.

John Ameriks, Joseph Briggs, Andrew Caplin, Minjoon Lee, Matthew D. Shapiro, Christopher Tonetti
October 2, 2018

Older Americans, even those who are long retired, have strong willingness to work, especially in jobs with flexible schedules. For many, labor force participation near or after normal retirement age is limited more by a...

Lisa De Simone, Bridget Stomberg, Brian Williams
October 2018

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Tax enforcement around the world has received increased attention since the Global Financial Crisis, with much focus on curbing the potentially harmful tax practices of multinational entities. Yet it is likely...

John R. Birge, Ozan Candogan, Hongfan Chen, Daniela Saban
September 30, 2018

Two salient features of most online platforms are that they do not dictate the transaction prices, and use commissions/subscriptions for extracting revenues. We consider a platform that charges commission rates and subscription fees to sellers...

Santiago Balseiro, Omar Besbes, Gabriel Weintraub
September 18, 2018

We study the dynamic mechanism design problem of a seller that repeatedly auctions independent items over a discrete time horizon to buyers that face a cumulative budget constraint. A driving motivation behind our model is...

Susan Athey, Michael Luca
September 11, 2018

As technology platforms have created new markets and new ways of acquiring information, economists have come to play an increasingly central role in tech companies – tackling problems such as platform design, strategy, pricing, and...

Darrell Duffie
September 10, 2018

This note explains a new type of auction based on an existing derivatives risk-management technique known as “compression.” A compression auction can be used to convert centrally cleared contracts on an underlying benchmark, such as...

Aleksandar Andonov, Roman Kräussl, Joshua D. Rauh
September 6, 2018

We investigate the characteristics of infrastructure as an asset class from an investment perspective of a limited partner. While non U.S. institutional investors gain exposure to infrastructure assets through a mix of direct investments and...

Christopher Tonetti
September 1, 2018

This research provides new empirical evidence on late-life labor market activities of American households from a new survey implemented under the Vanguard Research Initiative. The survey features following innovations: It measures detailed job characteristics not...

Lisa De Simone, Jing Huang, Linda Krull
September 2018

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We investigate how R&D contributes to rising foreign profitability in U.S. multinational corporations (MNCs) through wage savings and tax incentives. Our results suggest that wage savings increase foreign profit margins...

Lisa De Simone
August 26, 2018

We investigate whether intra-firm tax-motivated income shifting affects investment decisions. We model the complex interaction between two affiliates when the tax transfer price is related to an external market price. Our model predicts that increasing...

Lin William Cong, Charles M. C. Lee, Yuanyu Qu, Tao Shen
August 20, 2018

This study reports on the current state-of-affairs in the funding of entrepreneurship and innovations in China and provides a broad survey of academic findings on the subject. We discuss the implications of these findings for...

Daniel W. Elfenbein, Adina Sterling
August 19, 2018

This paper examines when and under what conditions whom to hire is a strategic decision. We identify four mechanisms involved in hiring that add to the “strategicness” of human capital decisions. We posit that, to...

Lisa De Simone, Bridget Stomberg, Brian Williams
August 16, 2018

Tax enforcement around the world has received increased attention since the Global Financial Crisis, with much focus on curbing the potentially harmful tax practices of multinational entities. Yet it is likely that multinational entities can...

Susan Athey, Guido W. Imbens
August 15, 2018

In this paper we study estimation of and inference for average treatment effects in a setting with panel data. We focus on the setting where units, e.g., individuals, firms, or states, adopt the policy or...

Pedro M. Gardete, Megan H. Antill
August 2018

The increasing amount of data available to consumers has most likely aided in decision-making. However, it has also created an opportunity for sellers to design the information landscape that consumers navigate. This paper develops a...

Paul Pfleiderer
August 2018

Forthcoming at Economica

In this essay I discuss how theoretical models in finance and economics are used in ways that make them “chameleons” and how chameleons devalue the intellectual currency and muddy policy debates....

Matthew Corritore, Amir Goldberg, Sameer B. Srivastava
August 2018

How does cultural heterogeneity in an organization relate to its underlying capacity for execution and innovation? Existing literature often

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Robert A. Burgelman, John K. Thomas
August 2018

This study of the transformation of the mobile device industry examines how cross-boundary disruption (XBD) superseded the incumbents’ sustaining innovation, which helps explain the rapid rise of Apple and Google Android and the equally rapid...

Ruth Beer, Ignacio Rios, Daniela Saban
August 2018

Motivated by recent initiatives to increase transparency in procurement, we study the effects of disclosing information about previous purchases in a setting where an organization delegates its purchasing decisions to its employees. When employees can...

Charles I. Jones, Christopher Tonetti
July 31, 2018

Data is nonrival: a person’s location history, medical records, and driving data can be used by any number of firms simultaneously without being depleted. Nonrivalry leads to increasing returns and implies an important role for...