Publications

We develop a structural credit model to examine how interactions between default and liquidity affect corporate bond pricing. The model features debt rollover and bond-price-dependent holding costs. Over the business cycle and in the cross-…

Online retail reduces the costs of obtaining information about a product’s price and availability and of flexibly timing a purchase. Consequently, consumers can strategically time their purchases, weighing the costs of monitoring and the risk of…

While researchers and practitioners alike estimate firms’ exposures to systematic risk factors, the disclosure literature typically assumes that exposures are common knowledge. We develop a model where the firm’s exposure to a factor is unknown,…

Do the activities of social movements (e.g., public protest, shareholder activism, boycotts, and sabotage) impact businesses, and if so, how do they impact businesses? When confronted by activist demands, how do firms respond, and does this…

By examining the state of operations management (OM) research from 1980 to 2015 and by considering three new industry trends, we propose new OM research directions in socially and environmentally responsible value chains that fundamentally expand…

Building on our review of the strategy process and practice research, we identify three ways to see the relationships between the two research traditions: complementary, critical, and combinatory views. We adopt in this special issue the…

This study examines the information content of quarterly earnings announcements, measured as the magnitude of stock price revision at earnings announcements relative to price revision at other times. We investigate whether quarterly earnings…

Over the past decade, solar photovoltaic (PV) power has experienced dramatic deployment growth coupled with substantial decreases in system prices. This article examines how solar PV power is currently positioned in the electricity marketplace…

We study the information preferences and information demand of decision-makers facing uncertainty. We focus on monotone decision problems in which the posterior beliefs induced by the decision-maker’s information can be ordered so that higher…

Cost-effectiveness studies of medical innovations often suffer from data inadequacy. When Markov chains are used as a modeling framework for such studies, this data inadequacy can manifest itself as imprecise estimates for many elements of the…

Why are some communities resilient in the face of disasters, and why are others unable to recover? We suggest that two mechanisms matter: the framing of the cause of the disaster, and the community civic capacity to form diverse non-profits. We…

In collaboration with three companies selling a diverse set of products, we conducted randomized field experiments in which experimentally tailored email ads were sent to millions of individuals. We found consistently that personalizing the…

Economic sociologists agree that economic rationality is constructed and that morality and economic interests intersect. Yet we know little about how people organize economic beliefs or judge the morality of markets. We use Relational Class…

There are many settings where researchers are interested in estimating average treatment effects and are willing to rely on the unconfoundedness assumption, which requires that the treatment assignment be as good as random conditional on…

We study the interplay between autonomous transportation, carpooling, and road pricing. We discuss how improvements in these technologies, and interactions among them, will affect transportation markets. Our main results show how to achieve…

We evaluate the effects of three European Central Bank (ECB) policies (the Securities Markets Programme (SMP), the Outright Monetary Transactions (OMT), and the Long-Term Refinancing Operations (LTROs)) on government bond yields. We use a novel…

With this report, the Stanford Latino Entrepreneurship Initiative highlights key research findings from its third annual Survey of U.S. Latino Business Owners. In this survey, we examine issues specifically related to Latino entrepreneurs and…

Given the extraordinary proliferation of seawater desalination plants, Israel’s transition to become a country that almost exclusively relies on desalination for municipal water supply is instructive as a case study, especially given concerns…

Limits on consumer attention give firms incentives to manipulate prospective buyers’ allocation of attention. This paper models such attention manipulation and shows that it limits the ability of disclosure regulation to improve consumer welfare…

Auctions were very popular in the early days of internet commerce, but today online sellers mostly use posted prices. We model the choice between auctions and posted prices as a trade-off between competitive price discovery and convenience.…