Publications

Much of intellectual history is punctuated by the flaring of intellectual outliers, small groups of thinkers who briefly, but decisively, influence the development of ideas, technologies, policies, or worldviews. To understand the flaring of…

In recent years, companies have begun to voluntarily disclose alternative measures of CEO compensation. These figures differ — sometimes significantly — from those reported in the summary compensation tables of the annual proxy. The motivation to…

Motivated by polar extremes of monopartisanship and nonpartisanship in existing literature on parties in legislatures, we introduce and analyze a more moderate theory of competitive partisan lawmaking. The distinguishing feature of competitive…

Bloodletting — the practice of letting blood out to cure a patient — was for centuries one of the main therapies in the west. We lay out three potential explanations for bloodletting’s cultural success:

• it was efficient,
• it…

The present research investigated a novel account of how normative influence varies across culture — whether there exist cultural differences in the motivation to adhere to social norms even when similar norms are prevalent across cultures.…

We estimate the spillovers of properties financed by the Low Income Housing Tax Credit (LIHTC) onto surrounding neighborhood residents. We nonparametrically estimate the impact of LIHTC development on nearby house prices by developing a new…

U.S. CEOs hold a large amount of equity that is not explicitly constrained by ownership guidelines or vesting requirements. Although the average CEO receives a risk premium in his annual pay for holding unconstrained equity, most CEOs hold more…

The random priority (RP) mechanism is a popular way to allocate n objects to n agents with strict ordinal preferences over the objects. In the RP mechanism, an ordering over the agents is selected uniformly at random; the…

Research suggests that finding and hiring the right workers may be as important to firms as managing workers after they join organizations.  However, hiring the right workers is difficult.  In this paper trial employment is examined as…

The tremendous costs of conflict have made humans resourceful not only at warfare but also at peacemaking. Although third parties have acted as peacemakers since the dawn of history, little is known about voluntary, informal third-party…

Why are employee loyalty and effort sometimes not reciprocated by employers? Five experimental studies tested the hypothesis that people feel less obligated to reciprocate in an organizational as contrasted with a personal context. Studies 1A and…

Language use is a psychologically rich, stable individual difference with well-established correlations to personality. We describe a method for assessing personality using an open-vocabulary analysis of language from social media. We compiled…

We study the calculation of exact p-values for a large class of non-sharp null hypotheses about treatment effects in a setting with data from experiments involving members of a single connected network. The class includes null hypotheses that…

This paper investigates the impact of individuals’ social ties at organizational entry on the formation of intraorganizational networks. When individuals enter organizations with one or more preentry relationships in place, I argue they form more…

Why do consumers often feel pressed for time? This research provides a novel answer to this question: consumers’ subjective perceptions of goal conflict. The authors show that beyond the number of goals competing for consumers’ time,…

Consumers with limited discretionary money face important trade-offs when deciding how to spend it. In the current research, we suggest that feelings of financial constraint increase consumers’ concern about the lasting utility of their purchases…

Daily mutual fund (MF) flows are highly persistent and price-destabilizing, and short-sellers (SSs) trade strongly in the opposite direction to these flows. This negative relation is associated with the expected component of MF flows (based on…

This paper introduces a new measure of firm’s exposure to systematic distress risk — the probability of a recession at the time of a firm’s failure. For stocks in the top quintile of the probability of failure, a median hedge portfolio based on…

Once dismissed as unrealistically expensive, solar photovoltaic (PV) power has been on a remarkable run lately: according to Bloomberg Professional Service, in comparison to the start of the decade, the annual installations of new solar PV…

Researchers often report estimates and standard errors for the object of interest (such as a treatment effect) based on a single specification of a statistical model. We propose a systematic approach to assessing sensitivity to specification. We…