Publications

We formulate a private learning model to study an intrinsic tradeoff between privacy and query complexity in sequential learning. Our model involves a learner who aims to determine a scalar value, v∗, by sequentially querying an external database…

We study the effect of imperfect memory on decision making in the context of a stochastic sequential action- reward problem. An agent chooses a sequence of actions which generate discrete rewards at different rates. She is allowed to make…

We study trading behavior and the properties of prices in informationally complex markets. Our model is based on the single‐period version of the linear‐normal framework of Kyle (1985). We allow for essentially arbitrary correlations among the…

Energy storage will be key to overcoming the intermittency and variability of renewable energy sources, like wind and solar power. This paper proposes a cost metric for measuring the cost of energy storage and for identifying optimally sized…

We examine the effect of firm-specific business disruptions on the performance of small firms in emerging markets. We study the impact of both managerial disruptions (which result in the absence of the entrepreneur-owner or more broadly a key…

Winner 2017 BlackRock Applied Research Award

AQR Top Finance Graduate Award 2018

We provide evidence that a weak banking sector contributed to low productivity following the European debt crisis. An…

This paper shows that the frequency of capital structure adjustment varies significantly across firms. The most active 25% of firms account for 51% of leverage adjustments, while the least active 50% of firms account for only 19% of such events.…

In many important machine learning applications, the training distribution used to learn a probabilistic classifier differs from the testing distribution on which the classifier will be used to make predictions. Traditional methods correct the…

A major goal of the environmental movement is to conserve or improve the natural environment, but evidence showing that environmental mobilization produces positive environmental outcomes is mixed. This paper addresses a fundamental question…

The growth of the “gig” economy generates worker flexibility that, some have speculated, will favor women. We explore one facet of the gig economy by examining labor supply choices and earnings among more than a million rideshare drivers on Uber…

Many scientific and engineering challenges—ranging from personalized medicine to customized marketing recommendations—require an understanding of treatment effect heterogeneity. In this article, we develop a nonparametric causal forest …

Although much is known about how brokerage positions in social networks help individuals improve their own performance, we know little about the impact of brokers on those around them. Our study investigates brokerage as a public good. We focus…

The 2007-09 financial crisis challenged many long-standing beliefs about asset markets. For example, it raised questions about the applicability of the law of one price, it coincided with a period of extraordinary house price volatility, and it…

A major goal of the environmental movement is to conserve or improve the natural environment, but evidence showing that environmental mobilization produces positive environmental outcomes is mixed. This article addresses a fundamental question…

To examine whether and how social movements that target private firms are influenced by larger protest cycles, we theorize about osmotic mobilization — social movement spillover that crosses the boundary of the firm — and how it should vary with…

Because discretionary accruals are known to be noisy proxies of earnings management that often produce biased results, we argue that a correlation between discretionary accruals and a hypothesized factor is generally not an adequate basis for…

Although some researchers have suggested that narcissistic CEOs may have a positive influence on organizational performance (e.g., Maccoby, 2007; Patel & Cooper, 2014), a growing body of evidence suggests that organizations led by…

Consumers nowadays have easy and rich access to information about social others who are pursuing goals similar to their own (e.g., through a Fitbit device, the Endomondo mobile app, stickK.com…

Millions of poor smallholder farmers produce global commodities, often through illegal deforestation. Multinational commodity buyers have committed to halt illegal deforestation and improve farmers’ livelihoods in their supply chains. We propose…