Publications

The authors argue that the strength of the relationship between income and happiness can be influenced by exposure to organizational practices, such as being paid by the hour, that promote an economic evaluation of time use. Using cross-sectional…

I analyze a manager’s optimal earnings forecasting strategy and optimal earnings management policy in a setting where both the mean and the variance of the distribution generating the firm’s cash flows are unknown. The analysis shows that the…

We study a rental system where a fixed number of heterogeneous users rent one product at a time from a collection of reusable products. The online DVD rental firm Netflix provides the motivation. We assume that rental durations of each user are…

The authors propose that participation in market research can determine consumers’ experiences with and evaluations of marketing services/products. Building on and extending a prior finding that expectation to evaluate a service (or product)…

By generalizing the Leland and Pyle (1977) model to the case of multiple correlated assets, this paper studies the signaling and hedging behavior of an intermediary who sells multiple assets in financial markets. Based on information asymmetry,…

Politicians vary in both their competence and their policy preferences. We show that how voters trade off competence against ideological congruence has key implications for the type of representation incumbents provide. When voters privilege…

The probability of extreme default losses on portfolios of U.S. corporate debt is much greater than would be estimated under the standard assumption that default correlation arises only from exposure to observable risk factors. At the high…

Using qualitative data collection methods, mainly in-depth interviews, this study investigated the complex, fluid, strategic, and reciprocal relationships between Internet use, group identity, and political participation in a Taiwanese American…

Consumers are constantly exposed to subtle situational cues that can influence behavior by priming either goals or “mere” semantic representations such as personality traits. However, little is known about when exactly such priming leads to goal…

For the past twenty five years, economists have been building theories of the optimal management of firms. For example, economic models suggest that under some conditions, piece rate pay raises performance, and under other conditions, promotions…

Drawing on gender role theory and tournament theory, we examined the effects of sex and organizational culture preferences on the incomes of MBA graduates over an 8-year period. We found that masculine culture preferences led to higher income 4…

This research examines the influence of types of protest activities, Congressional hearings and political characteristics on environmental legislation enacted from 1961-1990. We find that rates of environmental protest rise with increases in the…

We solve for the equilibrium dynamics of information sharing in a large population. Each agent is endowed with signals regarding the likely outcome of a random variable of common concern. Individuals choose the effort with which they search for…

We present a demand system for tied goods incorporating dynamics arising from the tied nature of the products and the stockpiling induced by storability and durability. We accommodate competition across tied good systems and competing downstream…

To explain varying levels of collective action by social movement organizations in the United States operating during the height of the 1960s protest cycle, this article examines social movement sector-level dynamics alongside indicators of…

This paper shows that major components of modern manufacturing processes, such as inventory management and cross-training, play a significant control role. In our model, workers possess information that is critical to efficient ongoing operations…

A number of recent marketing studies examine the stock market’s response to the release of American Customer Satisfaction Index (ACSI) scores. The broad purpose of these studies is to investigate the stock market’s valuation of customer…

I present a stochastic version of Tirole’s (1996) collective reputation model. In equilibrium, group behavior is persistent due to complementarity between the current incentives of group members and the group’s reputation, which depends on its…

Open source software is becoming increasingly prominent, and the economic structure of open source development is changing. In recent years, firms that are motivated by revenues from software services markets have become primary contributors to…

The asset allocation of defined benefit pension plans is a setting where both risk-shifting and risk-management incentives are likely be present. Empirically, firms with poorly funded pension plans and weak credit ratings allocate a greater share…