Publications

Financial instability is a major problem for the worlds middle-income developing countries. Barry Eichengreens proposal for dealing with the problem treats currency mismatches the fact that developing countries borrow in dollars instead of their…

We analyze the extent to which simple markets can be used to aggregate disperse information into efficient forecasts of uncertain future events. Drawing together data from a range of prediction contexts, we show that market-generated forecasts…

This paper studies alternative price-service mechanisms for a provider that serves customers whose delay cost depends on their service valuations. We propose a generalized delay cost structure that augments the standard additive model with a…

Two studies examined unconscious racial stereotypes of decision makers in the juvenile justice system. Police officers (Experiment 1) and juvenile probation officers (Experiment 2) were subliminally exposed to words related to the category Black…

This paper (a) provides a framework for quantifying any economy’s flexibility, and (b) reviews the evidence on New Zealand firms birth, growth and death. The data indicate that, by and large, the labour market and the financial market are doing…

The authors empirically explore the revenue impact of marketing-mix variables and their interactions. The findings include the following: pharmaceutical direct-to-consumer advertising and detailing (sales force) affect demand synergistically,…

We utilize an experimental Speed Dating service to examine racial preferences in mate selection. Our data allow for the direct observation of individual decisions of randomly paired individuals; we may therefore directly infer racial preferences…

We consider the effect a public revelation of information (e.g. rating, grade) has on signaling and trading in a dynamic model. Competing buyers offer prices to a privately informed seller who can reject these offers and delay trade. This delay…

We study optimal enforcement in credit markets in which the only threat facing a defaulting borrower is restricted access to financial markets. We solve for the optimal level of exclusion, and link it to observed institutional arrangements.…

This chapter is about people’s attempts to resist persuasion by counterarguing and the consequences of the attempted resistance for the strength of the resulting attitudes. The authors’ framework can be stated simply in 3 propositions. First,…

Using police officers and undergraduates as participants, the authors investigated the influence of stereotypic associations on visual processing in 5 studies. Study 1 demonstrates that Black faces influence participants’ ability to spontaneously…

We study self-interested routing in stochastic networks, taking into account the discrete stochastic dynamics of such networks. We analyze a two station multiclass queueing network in which the system manager chooses the scheduling rule used, and…

We demonstrate how organizational ecology can contribute to strategic management and managerial practice by using resource-partitioning theory to make predictions with respect to: (i) the short-run performance (i.e. growth and profitability)…

Stanford University has a “managed competition” model of health insurance. Stanford contributes the cost of the low-cost plan, and employees are responsible for premium differences between this plan and other offerings. Each employee gets what he…

This paper develops a multiperiod principal-agent model in which a manager must be given incentives to undertake investments and to exert personally costly effort. Investments are soft (e.g., intangible assets) and therefore entail measurement…