Publications

In this Closer Look, we examine the formal and informal advice networks that corporate directors rely on to improve decision making and performance. We find directors are active consumers of advice. They rely on paid advisors particularly in…

“Notice and choice” is a mainstay of policies designed to safeguard consumer privacy. This paper investigates distortions in consumer behavior when faced with notice and choice, which may limit the ability of consumers to safeguard their privacy…

We quantify the impact of the loss of reserve currency status in goods and asset markets. In goods markets, the loss of seigniorage (1% of GDP per annum) makes American households spend less, mostly on U.S. goods, leaving an excess supply of U.S…

Many large-scale transportation systems rely on decision-makers who independently allocate resources across space and time. While decentralization fosters competition, it can also generate substantial operational inefficiencies. We study this…

Care coordination is increasingly evidenced to improve outcomes for patients with complex conditions. Accordingly, the Veterans Health Administration (VA) is expanding care coordination for ~1.5 million Veterans nationally at the highest risk for…

This paper studies estimation of causal effects in a panel data setting. We introduce a new estimator, the Triply Robust Panel (TROP) estimator, that combines (𝑖) a flexible model for the potential outcomes based on a low-rank factor structure on…

In the last two decades, the euro area was hit by multiple crises. Fiscal and monetary emergency actions broke important constraints and expectations set by the euro’s founding principles. Several euro countries broke fiscal rules. As politicians…

We examine whether exposure to government assistance can generate positive policy feedback effects among constituencies not traditionally supportive of the welfare state. Focusing on the U.S. Paycheck Protection Program (PPP), a small business…

Commercial insurer prior authorization (PA) rules are published in provider manuals that are often hundreds of pages long. Physicians report that the complexity of PA rules, forms, and submission protocols contributes to delays in care, adverse…

Importance High-quality discharge summaries are essential for safe care transitions but contribute substantially to clinician documentation burden and burnout. While retrospective studies suggest that large language models (LLMs…

Most users of educational technology disengage within weeks of joining, and whether temporary incentives can durably change engagement remains unclear. We study contest-based gamification in a randomized controlled trial with 10,000 students on…

What explains wealth and portfolio differences between black and white Americans? We find that disparities in economic factors explain portfolios well, but only partly explain the wealth gap. In a dynamic setting, economic factors often change…

Does media influence operate primarily on low-information swing voters, or can it also affect party activists who shape intraparty ideological factions? We examine Fox News’ role in the rise of the Tea Party movement within the Republican Party,…

Unravelling the complex dynamics of past symbolic behaviour is challenging using traditional archaeological approaches alone. Drawing on the cognitive sciences, we here present novel computational measures of the portable art of Mesolithic South…

This paper measures concentration in narrowly defined product markets for a broad range of consumer goods and services in the United States from 1994 to 2019. We document two main empirical facts. First, concentration levels are high. Of the…

Using a mandatory, purpose-designed Census Bureau survey of approximately 28,500 establishments, we provide new evidence on industrial AI adoption in US manufacturing. Despite widespread digitization, only 22.8 percent of plants report any AI use…

Third-party litigation finance is an increasingly popular practice in commercial litigation. Despite calls for mandated disclosure, litigation funders are mostly anonymous to defendants, judges and juries. We first present an equilibrium model of…

Despite their potential to advance financial inclusion and improve business outcomes, digital payment solutions have low adoption rates among retail merchants in developing economies. Prior interventions have tackled pre-purchase frictions such…

Personality Computing is a field at the intersection of Personality Psychology and Computer Science. Started in 2005, research in the field utilizes computational methods to understand and predict human personality traits. The expansion of the…