Publications

Problem definition: Deceased-donor kidney transplant candidates in the United States are ranked according to characteristics of both the donor and the recipient. We seek the ranking policy that optimizes the efficiency–…

We address whether analysts bias earnings forecast revisions and convey the bias using forecast revision consistency, i.e., the extent to which analyst reports with earnings forecast revisions include stock recommendation and target price…

We examine the connection between discrete‐time models of financial markets and the celebrated Black–Scholes–Merton (BSM) continuous‐time model in which “markets are complete.” Suppose that (a) the probability law of a sequence of discrete‐time…

The impacts of COVID-19 on workers and workplaces across the globe have been dramatic. This broad review of prior research rooted in work and organizational psychology, and related fields, is intended to make sense of the implications for…

In a general model of trading networks with bilateral contracts, we propose a suitably adapted chain stability concept that plays the same role as pairwise stability in two-sided settings. We show that chain stability is equivalent to stability…

Waitlists are often used to ration scarce resources, but the trade‐offs in designing these mechanisms depend on agents’ preferences. We study equilibrium allocations under alternative designs for the deceased donor kidney waitlist. We model the…

We study how opening to trade affects economic growth in a model where heterogeneous firms can adopt new technologies already in use by other firms in their home country. We characterize the growth rate using a summary statistic of the…

Individuals vary widely in how they categorize novel and ambiguous phenomena. This individual variation has led influential theories in cognitive and social science to suggest that communication in large social groups introduces path dependence…

The SEC adopted Rule 10b5-1 to provide an affirmative defense against allegations of insider trading to executives whose jobs regularly expose them to material nonpublic information. In this Closer Look, we present evidence on the trading…

A substantial body of research has documented that grandiose narcissists are characterized by high self-esteem, a sense of personal superiority and entitlement, overconfidence, a willingness to exploit others for self-gain, and hostility and…

Digital advertising markets are growing and attracting increased scrutiny. This article explores four market inefficiencies that remain poorly understood: ad effect measurement, frictions between and within advertising channel members, ad…

A rich class of mechanism design problems can be understood as incomplete-information games between a principal who commits to a policy and an agent who responds, with payoffs determined by an unknown state of the world. Traditionally, these…

Persuading people to engage in specific health behaviors is critical to prevent the spread of and mitigate the harm caused by COVID-19. Most of the research and practice around this issue focuses on developing effective message content.…

We explore how members of a community of practice learn new tools and techniques when environmental shifts undermine existing expertise. In our 20-month comparative field study of medical assistants and patient-service representatives learning to…

In many areas, practitioners seek to use observational data to learn a treatment assignment policy that satisfies application-specific constraints, such as budget, fairness, simplicity, or other functional form constraints. For example,…

The pandemic has redefined how many Americans work, forced more of us to find refuge in our homes, and called into question the necessity of those dreaded commutes to a downtown office.

We are seeing these issues play out in real estate…

To explain trade-offs in choice, researchers have proposed myriad phenomena and decision rules, each paired with separate theories and idiosyncratic vocabularies. Yet most choice problems are ultimately resolved with one of just two types of…

After a recent increase in Chinese import competition, European firms increased innovation. We present and rationalize these patterns using ‘trapped factors’ at the micro level within a stylized equilibrium model of product-cycle trade and growth…

The composition of immigrants depends not only on immigrant choice but also on immigration policy, because slots are rationed. Policy determines immigrant attainment, as evidenced by immigrants from Algeria having higher educational attainment…