Publications

We examine how the social structure of existing organizations influences entrepreneurship and suggest that resources accrue to entrepreneurs based on the structural position of their prior employers. We argue that information advantages allow…

This chapter discusses the significance of distinctiveness theory for understanding advertising persuasion in multicultural marketplaces. First, we define distinctiveness theory, reviewing the initial empirical tests that formed the…

This paper studies how collateral affects bond yields. Using a large dataset of public bonds, we document that collateralized debt has higher yield than general debt, after controlling for credit rating. Our model of agency problems between…

The last few years have seen a significant re-evaluation of the models used to analyze crises in emerging markets. Recent models typically stress financial constraints or distorted financial incentives. While this certainly represents progress,…

In the event of a smallpox bioterrorist attack in a large U.S. city, the interim response policy is to isolate symptomatic cases, trace and vaccinate their contacts, quarantine febrile contacts, but vaccinate more broadly if the outbreak cannot…

Using globalization and contingency theory, this paper develops a supplier-based model of global account management (GAM). The model comprises the multinational suppliers industry globalization drivers, the multinational customers extent of…

Sociologists frequently invoke the concept of form when analyzing organizations, collective action, art, music, culture and other phenomena. Nonetheless, the form concept has not received careful theoretical analysis, either generally or in…

We provide new measures of ethnic, linguistic and religious fractionalization for about 190 countries. These measures are more comprehensive than those previously used in the economics literature and we compare our new variables with those…

Many scholars claim that majority-minority districting has a perverse effect: it increases the number of conservatives elected to the House and thus moves policy to the right. To analyze the theoretical logic behind this claim, I develop a game-…

Recent efforts to restructure electricity markets have renewed interest in assessing how consumers respond to price changes. This paper develops a model for evaluating the effects of alternative tariff designs on residential electricity use. The…

This paper provides a new explanation for the use of convertible securities in venture capital, which is based on the trade-off between acquisition or IPOs. A key property of convertible preferred equity is that it allocates different cash flow…

This paper presents new identification results for models of first–price, second–price, ascending (English), and descending (Dutch) auctions. We consider a general specification of the latent demand and information structure, nesting both private…

This paper examines the position of India in the world trading system. It considers three separate questions: Firstly, how integrated is India in the world trade? Secondly, what gains could India reap from further trade liberalization? Thirdly,…

We analyze institutional allocation in initial public offerings (IPOs) using a new dataset of US offerings between 1997 and 1998. We document a positive relationship between institutional allocation and day one IPO returns. This is partly…

This paper develops a multiperiod agency model to study the use of leading indicator variables in managerial performance measures. In addition to the familiar moral hazard problem, the principal faces the task of motivating a manager to undertake…