Publications

Based on a combination of exploratory field research and executive experience, this article proposes that defining the “Minimum Winning Game” (MWG) is a difficult yet critical responsibility of top management. It is essential to keep a high-…

Although a rich body of research has explored the sources of party polarization in the US House of Representatives, it has focused primarily on the House since the late 1970s. Drawing on a dataset of historical election outcomes, legislative…

We show that tests of market efficiency are sensitive to the inclusion of delisting firm-years. When included, trading strategy returns based on anomaly variables can increase (for strategies based on earnings, cash flows and the book-to-market…

In this paper we describe how margins in the channel vary over time within a product category and identify the market, manufacturer, and retailer characteristics that explain this variation. To obtain the equilibrium margins, we explicitly model…

This paper examines a common assertion that customers in reward programs become “locked in” as they accumulate credits toward earning a reward. We define a measure of switching costs and use a dynamic structural model of demand in a reward…

In this research, we investigate the impact of significant life experiences on intertemporal decisions among young adults. A series of experiments focus specifically on the impact of experiencing the death of a close other by cancer. We show that…

In the past 15 years, the IBM Company has undergone a remarkable transformation from a struggling seller of hardware to a successful broad range solutions provider. Underlying this change is a story of foresighted strategy and disciplined…

This study investigates how top management team (TMT) demographic characteristics affect firm outcomes for young high technology firms in Silicon Valley. We study how team composition and turnover shape an entrepreneurial firm’s ability to…

We describe a two-step algorithm for estimating dynamic games under the assumption that behavior is consistent with Markov perfect equilibrium. In the first step, the policy functions and the law of motion for the state variables are estimated.…

In this paper, we calculate the consequences for health spending and the federal budget of an above-the-line deduction for out-of-pocket health spending. We show how the response of spending to this expansion in the tax preference can be…

This paper shows the existence of independent random matching of a large (continuum) population in both static and dynamic systems, which has been popular in the economics and genetics literatures. We construct a joint agent-probability space,…

The authors integrate two complementary streams of research on “fit” that document positive impacts of similarity and negative effects of dissimilarity. Fit with an organization’s culture typically focuses on similarity in values whereas…

This paper integrates two perspectives on why producers who span categories suffer social and/or economic disadvantage. According to the audience-side perspective, audience members refer to established categories to make sense of producers; they…

The consequences of illness have two crucial types of stakes: for the self and for the family. Therefore, this research examines the effectiveness of health messages that present consequences for the self or for the family, focusing specifically…

The authors use detailed ethnographic evidence to design and interpret a broad representative survey of 800 households in Delhi’s slums, examining the processes by which residents gain access to formal government and develop their own informal…

This research models the dynamics of customer relationships using typical transaction data. It permits the evaluation of the effectiveness of customer-brand encounters on the dynamics of customer relationships and the subsequent buying behavior.…

This paper explores information disclosure in matching markets, e.g., the informativeness of transcripts given out by universities. We show that the same, benchmark, amount of information is disclosed in essentially all equilibria. We then…

We introduce a simple model of the “percolation” of information of common interest through a large market, as agents encounter each other over time and reveal information to each other, some of which they may have received earlier from other…

We examine whether application of International Accounting Standards is associated with higher accounting quality. The application of IAS reflects the combined effects of features of the financial reporting system, including standards, their…