Publications

This article estimates a business cycle model with endogenous financial asset supply and ambiguity averse investors. Firms’ shareholders choose not only production and investment, but also capital structure and payout policy subject to financial…

Purpose: Observational pharmacoepidemiological studies can provide valuable information on the effectiveness or safety of interventions in the real world, but one major challenge is the existence of unmeasured confounder(s…

Based on a longitudinal case study, this paper presents an ecosystem-level process model of the interlocking key activities of the business model disruptor, other ecosystem participants (customers, partners, media, analysts), and the incumbent.…

Motivated by the proliferation of online platforms that collect and disseminate consumers’ experiences with alternative substitutable products/services, we investigate the problem of optimal information provision when the goal is to maximize…

In advanced democracies, most government spending is allocated according to criteria approved by a legislature but implemented by the bureaucracy. I ask whether this fact imposes a binding constraint on the ability of legislators to engage in…

This paper studies how in utero exposure to maternal stress from family ruptures affects later mental health. We find that prenatal exposure to the death of a maternal relative increases take-up of ADHD medications during childhood and anti-…

People seek to spend time in positive experiences, enjoying and savoring. Yet there is no escaping negative experiences, from the mundane (e.g., arguing) to the massive (e.g., death of a child). Might negative experiences confer a hidden benefit…

Identifying the optimal set of individuals to first receive information (`seeds’) in a social network is a widely-studied question in many settings, such as the diffusion of information, microfinance programs, and new technologies. Numerous…

The article reviews the most recent research surrounding the potential role of organic agriculture in providing food for the planet. It challenges the claims of organic agriculture’s environmental superiority compared to well-managed,…

We examine the magnitude of synergistic effects in vertically integrated energy systems that arise when the external market for an intermediate input (electricity) is imperfect and the two subsystems are subject to operational volatility in terms…

Despite substantial prior research regarding the effect of context on choices, uncertainty remains regarding when particular context effects will be observed. In this article, the authors advance a new perspective on context-dependent choices,…

We develop a model of advertising markets in an environment where consumers may switch (or “multi-home”) across publishers. Consumer switching generates inefficiency in the process of matching advertisers to consumers, because advertisers may not…

This paper studies the welfare effects of a “partial banking union” in which cross-country transfers for bailouts are set at the supranational level, but policymakers in member countries decide the distribution of funds. This allows the self-…

It is often said that there are two types of psychological processes: one that is intentional, controllable, conscious, and inefficient, and another that is unintentional, uncontrollable, unconscious, and efficient. Yet, there have been…

Despite increasing interest in business model innovation, there is only limited scholarship that examines how business model innovators present and explain their innovations to various stakeholders. As business model innovation often involves the…

Artificial intelligence may destroy and transform millions of jobs, possibly exacerbating the shift in power from labor to capital.  Low birth rates, aging populations, and budgetary stringency leave countries ill-prepared to provide the…

Elderly people are exposed to information technologies to keep them in touch with younger generations. Among various technologies, social network sites (SNSs) are seldom used by the majority of elderly people. To bridge the digital divide, it is…

Although we disagree with some of Gal and Rucker’s (2018 – this issue) specific evidence and with their overstated conclusion regarding loss aversion, their overarching message makes a worthwhile contribution. In particular, loss aversion is less…