Publications

The television game show The Price Is Right is used as a laboratory to test consistency of suboptimal behavior in an environment with substantial economic incentives. On the show, contestants compete sequentially in two closely related games. We…

We analyze changes in the composition of top management teams when a key member of the team (the chief executive officer [CEO]) departs. We find that the probability of non-CEO top manager turnover increases markedly around times of CEO turnover…

This paper demonstrates the existence of two different kinds of externalities induced by an auditor servicing multiple clients at the same time. First we show that the capital market price for a client can increase in the number of qualified…

This paper develops a generalization of the widely used difference-in-differences method for evaluating the effects of policy changes. We propose a model that allows the control and treatment groups to have different average benefits from the…

People can generate the same thoughts or process the same information with different degrees of ease, and this subjective experience has implications for attitudes and social judgment. In prior research, it has generally been assumed that the…

In this article, we consider the relationship between regulatory orientation and transformational leadership. Specifically we pro-pose that the effectiveness of transformational leadership depends on followers’ regulatory mode—the manner in which…

• Winner, 2004 Barclays Global Investor Best Symposium Paper of the European Finance Association.

Managers appear to manipulate firm earnings through their characterizations of pension assets to capital markets and alter…

People represent many social categories, including gender categories, in essentialist terms: They see category members as sharing deep, nonobvious properties that make them the kinds of things they are. The present research explored the…

• Winner, 2006 Brattle Prize, First Prize Paper for the best corporate finance paper published in the Journal of Finance.
• Winner, 2004 Western Finance Association Award for best corporate finance paper.

I…

Emerging market economies are fertile ground for the development of real estate and other financial bubbles. Despite these economies’ significant growth potential, their corporate and government sectors do not generate the financial instruments…

The French Opposition to the war in Iraq in early 2003, prompted calls for a boycott of French wine in the US. We measure the magnitude of consumers’ participation in the boycott, and look at basic evidence of who participates. Conservative…

A bold new way of thinking has taken the medical establishment by storm in the past decade: the idea that decisions in medical care should be based on the latest and best knowledge of what actually works. Dr. David Sackett, the individual most…

Traditional models of attitude change have assumed that when people appear to have changed their attitudes in response to new information, their old attitudes disappear and no longer have any impact. The present research suggests that when…

The relationship between (a) private and public equity market valuations and (b) financial statement information is examined for a sample of 502 venture capital backed companies from six different industries over the 1993–2003 period. Financial…

We quantify the impact of social interactions and peer effects in the context of prescription choices by physicians. Using detailed individual-level prescription data, along with self-reported social network information, we document that…

This article pulls together streams of culture-related research found in information-processing and behavioral decision theory literature, and it complements them with a focus on motivations and goals. The authors propose a framework that…

The paper pulls together streams of culture-related research found in information processing and behavioral decision theory literatures, and complements them with a focus on motivations and goals. We propose a framework that suggests that (a)…

Can the type of polling place in which people vote (e.g. church, school, or firehouse) influence how they cast their ballot? Results of two studies suggest it can. A field study using Arizona‘s 2000 general election found that voters were more…