Publications

Much digital ink has been spilled recently (and no doubt will continue to be) on how Artificial Intelligence (AI) will reshape management and organizational processes. Some argue that AI will ultimately make managers obsolete. Others predict the…

Digital biomarkers (DBMs) are a new class of health indicators derived from digital technologies — including smartphones, wearable devices and ambient sensors — that enable continuous, real-time monitoring of signals in everyday settings. By…

A persistent puzzle throughout the cognitive and social sciences is how people manage to learn social conventions from the sparse and noisy behavioral data of diverse actors, without explicit instruction. Here, we show that the dominant theories…

This paper provides early evidence on the integration and impact of generative artificial intelligence (GenAI) in accounting at the accountant and task levels. Using survey data from 277 professional accountants, we document substantial…

What job should I take to maximize my impact potential, that is my potential to generate positive social impact? Which deal will maximize the impact return of my investment dollars? Which nonprofit will make the most of my donation? Can a well-…

In this Closer Look, we provide a detailed examination of the labor market for directorships among the senior executives of publicly traded U.S. companies with a focus on non-CEO-level executives. We find that directorships held by…

Bankruptcy insures consumers against large and unexpected wealth shocks. However, debtors may abuse this insurance. Indeed, close to 20% of consumer bankruptcy filings contain at least one material misstatement. I exploit the conditionally random…

Motivated by recent concerns surrounding the use of third-party pricing algorithms by competing firms, we study repeated Bertrand competition where market demand or the cost of serving the market is observed by an intermediary (or “algorithm”)…

Generative artificial intelligence (GAI) will likely alter many aspects of the financial reporting process and spawn a deep stream of academic research. We take an early step by examining the extent to which firms have begun using GAI in one…

Deceptive online networks are coordinated efforts that use identity deception to pursue strategic political or financial goals. During the US 2020 elections, these networks reached at least 37 million Facebook and 3 million Instagram users,…

Tax wash sale rules prohibit the recognition of capital losses when substantially identical securities are sold and immediately repurchased within short windows. This study examines whether institutional investors use exchange-traded funds (ETFs…

Multimodal AI systems have achieved remarkable performance across a broad range of real-world tasks, yet the mechanisms underlying visual-language reasoning remain surprisingly poorly understood. We report three findings that challenge prevailing…

AI is revolutionizing industrial value chains by accelerating operations, enhancing supply chain resilience, and mitigating critical labor shortages. To realize these gains, companies must first bridge potentially significant data gaps while…

Rationale & Objective

Nearly 20% of deceased donor kidneys in the United States are placed “out-of-sequence” (ie, outside of standard allocation rules). The rationale for out-of-sequence placements is to expedite placement of kidneys…

We analyze the effects of veto players when the set of available policies isn’t exogenously fixed, but rather determined by policy developers who work to craft new high-quality proposals. If veto players are moderate, there is active competition…

Recommender systems are central to how modern digital platforms connect users with content, yet they face a fundamental trade-off between predictive accuracy and explainability. Black-box models achieve strong performance but lack the…

This paper analyzes bond convenience yields in a currency union. The intertemporal government budget constraint requires member countries’ bond convenience yields and default spreads to adjust in response to shocks to their government surpluses.…

Organization redesign often raises a central question: Where are managers needed? A potential substitute for formal supervision by managers is interpersonal cultural alignment, which can ease coordination between colleagues. Yet prior…

We develop and implement a novel method to study personal financial advice from Large Language Models (LLMs). Studying this advice is challenging because it depends on the model used (i.e., supply), the questions individuals ask (i.e., demand),…