Working Papers

We prove that there exist equilibrium payoffs arbitrarily close to the efficient payoff in the two-player prisoner’s dilemma with low discounting under imperfect private monitoring, provided that the monitoring structure is not too uninformative…

We examine the impact of Chinese import competition on patenting, IT, R&D, and TFP using a panel of up to half a million firms over 1996–2007 across twelve European countries. We correct for endogeneity using the removal of product-specific…

We estimate advertising effects in the context of presidential elections. This setting overcomes many data challenges in previous advertising studies, while arguably providing one of the most interesting empirical settings to study advertising’s…

Gambling and gaming is a very large industry in the United States with about one-third of all adults participating in it on a regular basis. Using novel and unique behavioral data from a panel of casino gamblers, this paper investigates three…

This paper illustrates a practical framework for understanding and predicting political economy risk for project managers operating in a variety of developing country settings, including non-democracies, ethnically diverse environments and…

Prosper, the largest online social lending marketplace with over a million members and $207 million in funded loans, uses an auction amongst lenders to finance each loan. In each auction, the borrower specifies D, the amount he wants to…

We impose three conditions on refinements of the Nash equilibria of finite games with perfect recall that select closed connected subsets, called solutions.
A. Each equilibrium in a solution uses undominated strategies;
B. Each solution…

Discrete games of complete information have been used to analyze a variety of contexts such as market entry, technology adoption and peer effects. They are extensions of discrete choice models, where payoffs of each player are dependent on…

Longitudinal qualitative research combining grounded theorizing and insights from modern historical methods can generate novel conceptual frameworks that establish theoretical bridges between historical narratives and reductionist quantitative…

A general finding in economic and organizational sociology states that producers and products that span categories lose appeal to audiences. This paper argues that to assess the consequences of category spanning researchers need to take account…

Although a substantial amount of research has examined the constructs of warmth and competence, far less has examined how these constructs develop and what benefits may accrue when warmth and competence are cultivated. Yet there are positive…

Why do organizations generally lose their competitive edge as they get older? Recent theory and research on the dynamics of audiences and categories in markets sheds some new light on issues of organizational obsolescence.

Under Rate-of-Return regulation, a firm’s product prices are constrained by the requirement that investors do not earn more an allowable return on the firm’s assets. This paper examines the dynamic properties of the Rate-of-Return regulation…

Consumers want to be happy, and marketers are increasingly trying to appeal to consumers’ pursuit of happiness. However, the results of six studies reveal that what happiness means varies, and consumers’ choices reflect those differences. In some…

We discuss how regression discontinuity designs arise naturally in settings where firms target marketing activity at consumers, and discuss how this aspect may be exploited for econometric inference of causal effects of marketing effort. Our main…

Prequential testing of a forecaster is known to be manipulable if the test must pass an informed forecaster for all possible true distributions. Stewart (2011) provides a non- manipulable prequential likelihood test that only fails an informed…

Price controls lead to misallocation of goods and encourage rent-seeking. The misallocation effect alone is enough to ensure that consumer surplus is always reduced by a price control in an otherwise-competitive market with convex demand if…

This paper examines the relationship between firm performance and the recommendations provided by Institutional Shareholder Services (ISS), the largest proxy advisory firm in the United States, regarding shareholder votes in stock option exchange…

Can combat experience foster organizational skills that engender political collective action? We use the arbitrary assignment of troops to frontline combat in World War 2 to identify the effect of combat experience on two channels that change…