Publications

This paper studies the importance of idiosyncratic endowment shocks for aggregate asset prices in a generalized continuous-time framework that accommodates both jumps and recursive preferences. I show that, regardless of the presence of jumps,…

Studies have shown COVID-19 patients may have a low oxygen saturation (SpO2) independent of visible respiratory distress, a phenomenon termed “silent hypoxia.” Silent hypoxia creates uncertainty in the outpatient setting for clinicians and…

Opioid misuse has resulted in significant morbidity and mortality in the United States, and safer opioid use represents an important challenge in the primary care setting. This article describes a research collaborative of health service…

Corporate credit lines are drawn more heavily when funding markets are more stressed. This covariance elevates expected bank funding costs. We show that credit supply is inefficiently dampened by the associated debt-overhang cost to bank…

The analysis by Essex et al. in this issue is a thorough and much-needed review of physician strikes across numerous countries. It addresses an important question regarding the wisdom of extending labor law to physicians: whether allowing…

In the transition to decarbonized energy systems, Power-to-Gas (PtG) processes have the potential to connect the existing markets for electricity and hydrogen. Specifically, reversible PtG systems can convert electricity to hydrogen at times of…

We review economic arguments for using public policy to accelerate vaccine supply during a pandemic. Rapidly vaccinating a large share of the global population helps avoid economic, mortality, and social losses, which in the case of Covid-19…

Many markets are characterized by the rapid coming and going of successive products, each lasting in the market for only a short period of time before it is replaced by another. Such markets confront firms with the strategic challenge of trying…

Executive compensation contracts use information from markets and accounting to elicit efficient incentives. We structurally estimate the contribution of each performance to quantify the relative importance of price versus accounting. For…

We study the impact of personalized content recommendations on the usage of an educational app for children. In a randomized controlled trial, we show that the introduction of personalized recommendations increases the consumption of content in…

We characterize the contribution of immigrants to U.S. innovation, both through their direct productivity as well as through their indirect spillover effects on their native collaborators. To do so, we link patent records to a database containing…

We describe the design, implementation, and evaluation of a low-cost and scalable program that supports women in Poland in transitioning into jobs in the information technology sector. This program, called “Challenges,” helps…

A core assumption in the impression management literature is that organizations voluntarily disclose information about their positive social and environmental activities, policies, and performance in order to improve or maintain their reputation…

We explore the welfare implications of data-tracking technologies that enable firms to collect consumer data and use it for price discrimination. The model we develop centers around two features: competition between firms and consumers’ level of…

In this Closer Look, we examine individual investor perception of ESG to gauge their concern for environmental and social issues, their view of whether fund managers should use their voting power to influence ESG practices, and their willingness…

In summer 2022, Stanford Graduate School of Business, the Hoover Institution Working Group on Corporate Governance at Stanford University, and Rock Center for Corporate Governance at Stanford University jointly conducted a nationwide survey of 2,…

How does cognitive diversity in a group affect its performance? Prior research suggests that group cognitive diversity poses a performance tradeoff: diverse groups excel at creativity and innovation but struggle to take coordinated action.…

We consider a matching market where buyers and sellers arrive according to independent Poisson processes at the same rate and independently abandon the market if not matched after an exponential amount of time with the same mean. In this…

We study social learning and information transmission in a sender-receiver game wherein senders may be attacked (“cancelled”) for challenging the status-quo beliefs. We find that cancellations (and self-censorship) don’t arise unless there is a…

This paper reviews the empirical methods used in the accounting literature to draw causal inferences. Similar to other social science disciplines, recent years have seen a burgeoning growth in the use of methods that seek to provide as-if random…