Publications

Can negative information about a product increase sales, and if so, when? Although popular wisdom suggests that “any publicity is good publicity,” prior research has demonstrated only downsides to negative press. Negative reviews or word of mouth…

Permit markets are celebrated as a policy instrument since they allow (i) firms to equalize marginal costs through trade and (ii) the regulator to distribute the burden in a politically desirable way. These two concerns, however, may conflict in…

Invited commentary on Carolyn Tarrant et al.’s “Continuity and trust in primary care: A qualitative study informed by game theory.”

Bilateral investment treaties (BITs) are agreements between two countries for the reciprocal encouragement, promotion and protection of investments in each other’s territories by companies based in either country. Germany and Pakistan signed the…

We superimpose a radiation fallout model onto a traffic flow model to assess the evacuation versus shelter-in-place decisions after the daytime ground-level detonation of a 10-kt improvised nuclear device in Washington, DC. In our model, ≈80k…

Traditional real options models demonstrate the importance of the “option to wait” due to uncertainty over future shocks to project cash flows. However, there is often another important source of uncertainty: uncertainty over the permanence…

We describe recent advances in the empirical analysis of insurance markets. This new research proposes ways to estimate individual demand for insurance and the relationship between prices and insurer costs in the presence of adverse and…

Local governments can provide services with their own employees or by contracting with private or public sector providers. We develop a model of this ‘make-or-buy’ choice that highlights the trade-off between productive efficiency and the costs…

We analyze investment incentives and market structure under oligopoly competition in industries with congestion effects. Our results are particularly focused on models inspired by modern technology-based services such as telecommunications and…

We examine whether securitization impacts renegotiation decisions of loan servicers, focusing on their decision to foreclose a delinquent loan.…

In recent years, there has been considerable debate as to whether CEO compensation is actually correlated with performance in U.S. companies. Why don’t shareholders and stakeholders examine the relation between CEO wealth and stock price to…

Scholars have identified benefits of viewing work as a calling, but little research has explored the notion that people are frequently unable to work in occupations that answer their callings. To develop propositions on how individuals…

The English Parliament’s struggle for supremacy in the seventeenth century was crucial for the development of representative government in the English-speaking world, yet its lessons continue to be debated. This paper provides the first…

It is unclear if vouchers increase educational productivity or are purely redistributive, benefiting recipients by giving them access to more desirable peers at others’ expense. To examine this, we study an educational voucher programme in…

A director’s social and professional network contributes many positive benefits that increase shareholder value. Why isn’t more attention paid to the relation between personal networks and governance quality?

We studied interactive effects of gender in negotiation dyads, theorizing that the degree and manner of a negotiator’s persistence are functions of the gender composition of the dyad. Our findings challenge sex-stereotypic perspectives, showing…

 I describe asset price dynamics caused by the slow movement of investment capital to trading opportunities. The pattern of price responses to supply or demand shocks typically involves a sharp reaction to the shock and a subsequent and more…

In recent years, there has been a proliferation of non-GAAP metrics to supplement audited financial statements. Are these adjustments being made for the benefit of shareholders, or to distort financial results?

This paper examines if perceptions of test legitimacy increase when racial differences on test performance match the racial status quo or when a perceiver’s in-group performs better than expected, relative to other groups. Study 1 assesses…