Publications

This essay describes the evolution and recent convergence of two methodological approaches to causal inference. The first one, in statistics, started with the analysis and design of randomized experiments. The second, in econometrics, focused on…

We design and implement an adaptive experiment (a “contextual bandit”) to learn a targeted treatment assignment policy, where the goal is to use a participant’s survey responses to determine which charity to expose them to in a donation…

Two leading hypotheses for why individuals unintentionally share misinformation are that 1) they are unable to recognize that a post contains misinformation, and 2) they make impulsive, emotional sharing decisions without thinking about whether a…

We examine methods for evaluating interventions designed to improve decision-making quality when people misunderstand the consequences of their choices. In an experiment involving financial education, conventional outcome metrics (financial…

Our efforts here represent an exploratory attempt to make some progress on developing a fuller understanding of gender and organizational culture. In doing so, we report on a wide-ranging survey we administered to a sample of full-time workers (…

This paper studies strategic consumer shopping behavior in response to a macroeconomic policy and quantifies its unintended consequences for retailers vis-à-vis the policy goal. Using transaction-level data from a large retail chain in India, we…

Before the era of large central bank balance sheets, banks relied on incoming payments to fund outgoing payments in order to conserve scarce liquidity. Even in the era of large central bank balance sheets, rather than funding payments with…

Does going public affect the amount and type of corporate tax planning? Using a panel of U.S. corporate tax return data from 1994 to 2018, we show that IPO completion is associated with the implementation of multinational income shifting…

The operation of markets and of politics are in practice deeply intertwined. Political decisions set the rules of the game for market competition and, conversely, market competitors participate in and influence political decisions. We develop an…

Introduction: Population-level algorithm-enabled remote patient monitoring (RPM) based on continuous glucose monitor (CGM) data review has been shown to improve clinical outcomes in diabetes patients, especially children.…

The article offers information about the platform annexation, and the logic using basic principles from platform economics. It analyzes the platform annexation to the traditional antitrust categories in the market. It mentions that a platform…

Learning optimal policies from historical data enables the gains from personalization to be realized in a wide variety of applications. The growing policy learning literature focuses on a setting where the treatment assignment policy does not…

I show that a disruption to the financial sector can reshape the patterns of global trade for decades. I study the first modern global banking crisis originating in London in 1866 and collect archival loan records that link multinational banks…

Between 2010 and 2017, Chinese investors used an investor interactive platform (IIP) to ask public companies around 2.5 million questions, the vast majority of which received a reply within two weeks. We analyze these IIP dialogues…

Online platforms often face challenges being both fair (i.e., non-discriminatory) and efficient (i.e., maximizing revenue). Using computer vision algorithms and observational data from a microlending marketplace, we find that choices made by…

Multi-armed bandit (MAB) algorithms are efficient approaches to reduce the opportunity cost of online experimentation and are used by companies to find the best product from periodically refreshed product catalogs. However, these algorithms face…

In many models, economic growth is driven by people discovering new ideas. These models typically assume either a constant or growing population. However, in high income countries today, fertility is already below its replacement rate: women are…

The President’s 2021 Executive Order urged the Division to reevaluate certain aspects of antitrust analyses, facilitate a whole-of-government approach to reinvigorating competition, and pursue aggressive antitrust enforcement. Consistent with the…

We document that (i) debt-to-equity ratios and levered equity betas negatively covary with the market risk premium in distressed firms; (ii) the negative covariance generates negative alphas among those firms. We build a dynamic credit risk model…