Publications

Free-riding is at the core of environmental problems. If a climate coalition reduces its emissions, world prices change and nonparticipants typically emit more; they may also extract the dirtiest type of fossil fuel and invest too little in green…

We examine the relation between corporate governance and firms’ information environments. We use the passage of state antitakeover laws in…

This article finds that, when faced with racial inequity framed as White advantage, Whites’ desire to think well of their racial group increases their support for policies perceived to harm Whites. Across 4 studies, the article provides evidence…

We use variation in wind speeds at surfing locations in Switzerland as exogenous shifters of users’ propensity to post content about their surfing activity onto an online social network. We exploit this variation to test whether users online…

Bridging the literatures on social dilemmas, intergroup conflict, and social hierarchy, the authors systematically varied the intergroup context in which social dilemmas were embedded to investigate how costly contributions to public goods…

We use a proprietary data set with detailed executive compensation information to examine the relationship between the incentives of the tax director…

We study the relationship between Facebook popularity (number of contacts) and personality traits on a large number of subjects. We test to which extent two prevalent viewpoints hold. That is, popular users (those with many social contacts) are…

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

This submission discusses implications for the quality and safety of financial markets of proposed rules implementing the market-making provisions of section 13 of the Bank Holding Company Act, commonly known as the “Volcker Rule.” The proposed…

Individuals often criticize others’ choices and seek to defend their own. In theory, the ease of criticizing a particular choice should correspond to the ease of defending it. However, we demonstrate that differences in the types of arguments put…

Social media profiles are telling examples of the everyday need for disclosure and concealment. The balance between concealment and disclosure varies across individuals, and personality traits might partly explain this variability. Experimental…

We develop a method for identifying and quantifying the fiscal channels that help finance government spending shocks. We define fiscal shocks as surprises in defense spending and show that they are more precisely identified when defense stock…

We study an investment model in which agents have the wrong beliefs about the dynamic properties of fundamentals. Specifically, we assume that agents underestimate the rate of mean reversion. The model exhibits the following six properties: (i)…

A theory of leadership is proposed and tested. Leaders are characterized as those who have the ability to choose the right direction more frequently than their peers. The theory implies that leaders tend to be more able, place themselves in…

We introduce a novel physiologically-based methodology to consumer research—using the glycoprotein miraculin to manipulate the ability to sense and perceive specific taste elements in gustatory experiences. We apply this approach to exploring how…

Perception and misperception play a pivotal role in conflict and negotiation. We introduce a framework that explains how people think about their outcome interdependence in conflict and negotiation and how their views shape their behavior. Seven…

We find that preference for websites, like preference for objects in the offline world, is influenced by personality. We combine personality profiles and website choices of more than 160.000 users and investigate whether different websites…

In Gilligan and Krehbiel’s models of procedural choice in legislatures, a committee exerts costly effort to acquire private information about an unknown state of the world. Subsequent work on expertise, delegation, and lobbying has largely…

Project firms currently have little incentive to incorporate environmental considerations into infrastructure development or management decisions beyond those that are either regulated or subject to public perception. This lack of incentive…

We measure the repo funding extended by money market funds (MMF) and securities lenders to the shadow banking system, including quantities, haircuts, and repo rates by type of underlying collateral. We find that repo played only a small role in…