Publications

As governments around the world reaffirm their commitments to reduce carbon emissions at the national level, numerous global corporations have recently issued their own carbon reduction pledges. Such corporate “Net-Zero Club by 20xx”…

Semantic satiation, a term coined by Leon Jakobovits in 1962, means that incessant repetition of a word leads to a loss of meaning for the listener. The language of management has several such words. One prime example is “accountability.” The…

This paper analyzes bond convenience yields in a currency union. The intertemporal government budget constraint requires member countries’ bond convenience yields and default spreads to adjust in response to shocks to their government surpluses.…

Background: New technology adoption is common in health care, but it may elicit frustration if end users are not sufficiently considered in their design or trained in their use. These frustrations may contribute to burnout…

This paper describes developments in the player-side analytics in major team sports. We take a decision-making lens to the role of analytics in player decisions by general managers and coaches. We outline key accelerators and inhibitors to the…

Integrated care that is continuous, coordinated and patient-centered is vital for Medicare beneficiaries, but its relationship to health care expenditures remains unclear. This study explores—for the first time—the relationship between integrated…

We explain how the common practice of size-discovery trade detracts from overall financial market efficiency. At each of a series of size-discovery sessions, traders report their desired trades, generating allocations of the asset and cash that…

The article discusses how to capture the productivity potential of the COVID-19 pandemic which has triggered technological and organizational innovation. Topics covered include what businesses and governments can do to capitalize on the positive…

Breiman’s “Two Cultures” paper painted a picture of two disciplines, data modeling, and algorithmic machine learning, both engaged in the analyses of data but talking past each other. Although that may have been true at the time, there is now…

New technologies have enabled firms to elicit granular behavioral data from consumers in exchange for lower prices and better experiences. This data can mitigate asymmetric information and moral hazard, but it may also increase firms’ market…

Overlap in baseline covariates between treated and control groups, also known as positivity or common support, is a common assumption in observational causal inference. Assessing this assumption is often ad hoc, however, and can give misleading…

We propose a new estimator for the average causal effects of a binary treatment with panel data in settings with general treatment patterns. Our approach augments the twoway-fixed-effects specification with the unit-specific weights that arise…

Here we evaluate the potential for growth mindset interventions (that teach students that intellectual abilities can be developed) to inspire adolescents to be “learners” — that is, to seek out challenging learning experiences. In a previous…

We model a simple market setting in which fragmentation of trade of the same asset across multiple exchanges improves allocative efficiency. Fragmentation reduces the inhibiting effect of price-impact avoidance on order submission. Although…

We consider a system with an evolving state that can be stopped at any time by a decision maker (DM), yielding a state-dependent reward. The DM does not observe the state except for a limited number of monitoring times, which he must choose, in…

We study a Chinese policy that awards substantial tax cuts to firms with R&D investment over a threshold or “notch.” Quasi-experimental variation and administrative tax data show a significant increase in reported R&D that is partly…

We develop a model of international tariff negotiations to study the design of the institutional rules of the GATT/WTO. A key principle of the GATT/WTO is its most‐favored‐nation (MFN) requirement of nondiscrimination, a principle that has long…

Policymakers frequently use price regulations as a response to inequality in the markets they control. In this paper, we examine the optimal structure of such policies from the perspective of mechanism design. We study a buyer-seller market in…

We study a prominent energy regulation affecting large Chinese manufacturers that are part of broader conglomerates. Using detailed firm-level data and difference-in-differences research designs, we show that regulated firms cut output and…

Using City of Oakland data during COVID-19, we document that small-business components of survival capabilities (i.e., revenue resiliency, labor flexibility, and committed costs) vary by firm size. Nonemployer businesses rely on low-cost…