Publications

Understanding when new forms will emerge constitutes a core theoretical issue for organizational theory. The ecological theory of form emergence falls short of providing a full explanation because it treats legitimation as a primitive (…

Proxy advisory and corporate governance rating firms (such as RiskMetrics/Institutional Shareholder Services, Governance Metrics International, and The Corporate Library) play an increasingly important role in U.S. public markets. They rank the…

We present a nearly-linear time algorithm for counting and randomly generating simple graphs with a given degree sequence in a certain range. For degree sequence (d i ) i=1 n with maximum degree d max =O(m 1/4−τ ), our algorithm generates almost…

We present a tractable, linear model for the simultaneous pricing of stock and bond returns that incorporates stochastic risk aversion. In this model, analytic solutions for endogenous stock and bond prices and returns are readily calculated.…

As part of its long-term strategic commitment to accelerate economic development in previously excluded markets, in 2009 SAP launched a program leveraging microfinance, education, and technology to improve income of women Shea nut farmers in…

The cultural cognition thesis holds that individuals form risk perceptions that reflect their commitments to contested views of the good society. We conducted a study that used the dispute over mandatory HPV vaccination to test the cultural…

Is there a limit to trade cooperation that the WTO can facilitate? In this paper I present a theory of the WTO in which the WTO is an equilibrium outcome of multiple bilateral repeated prisoners’ dilemma games among countries. The equilibrium…

This paper addresses the question of how exchange rates affect consumer demand in markets where advertising plays an important role. We identify an effect that has not been emphasized in the existing literature: when foreign exchange rates…

The current research examines the link between narcissism and creativity at the individual, relational, and group levels of analysis. It finds that narcissists are not necessarily more creative than others, but they think they are, and they are…

The authors investigate whether need for closure affects how people seek order in judging social relations. In Study 1, the authors find that people who have a high need for closure (NFC) were more likely to assume their social contacts were…

Variation in the use of hospital and physician services among Medicare beneficiaries is well documented. However, less is known about the younger, commercially insured population. Using data from the Community Tracking Study to investigate this…

In many science, technology, engineering, and mathematics disciplines, women are outperformed by men in test scores, jeopardizing their success in science-oriented courses and careers. The current study tested the effectiveness of a psychological…

Without visual attention, even the obvious–like a gorilla walking through a scene of people–goes undetected (Mack & Rock, 1998; Simons & Chabris, 1999). This “inattentional blindness” is a persistent, well-documented limitation of the…

• Winner, 2011 Smith Breeden Prize, First Prize Paper for the best capital markets paper published in the Journal of Finance. State breakdown of $2.5 trillion unfunded public pension liability at the state level.

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We propose that organization members overestimate the degree to which others share their views on ethical matters. Further, we argue that being a broker in an advice network exacerbates this false consensus bias. That is, a high level of “…

With the best of intentions, companies experiment with isolated efforts to improve sustainability — only to encounter a long string of unanticipated consequences, often in the form of financial, social, or environmental costs. That’s partly…

This paper studies voting in corporate director elections. We construct a comprehensive data set of 2,058,788 mutual fund votes over a two-year period. We find systematic heterogeneity in voting: some funds are consistently more management-…

A significant need exists for new medical technologies that have the potential to expand access to important diagnostics, treatments, and specialty services by reducing costs without sacrificing quality. These technologies have a high social…

In any canonical Gaussian dynamic term structure model (GDTSM), the conditional forecasts of the pricing factors are invariant to the imposition of no-arbitrage restrictions. This invariance is maintained even in the presence of a variety…

Some executives who accumulate a substantial ownership position in the company hedge or pledge their shares to limit their financial risk. Should the board of directors allow this to occur?