Publications

A statistical theory of overconfidence is proposed and applied to the issue of occupational choice. Individuals who can choose whether to engage in an activity or not must estimate their performance. The estimates have error and that error has…

The chapter applies the incomplete contract paradigm to the design of political systems and shows that some of the lessons from this inquiry were overlooked by studies focusing on firms, e.g., the importance of the voting rule in solving the hold…

We study optimal disclosure via two competing communication channels; hard information whose value has been verified and soft disclosures such as forecasts, unaudited statements and press releases. We show that certain soft disclosures may…

We show that analyst coverage proxies contain information about expected returns.  We decompose analyst coverage into abnormal and expected components using a simple characteristic-based model and show that firms with abnormally high analyst…

A Nordstrom customer in the mid 70s walked into the Fairbanks, Alaska store and asked to “return” two worn snow tires. An awkward moment! Nordstrom, which evolved from a shoe store to a department store, never sold tires (although another company…

Leveraging the social hierarchy literature, the present research offers a role-based account of the antecedents of interpersonal conflict. Specifically, we suggest that the negative feelings and emotions resulting from the experience of occupying…

The authors consider the case for augmenting risk models to be used in portfolio construction to reflect information embedded in the portfolio manager’s alphas. They consider both smart beta models and cases in which alpha signals are partly…

The number of people enrolled in consumer-directed health plans (CDHPs) has increased dramatically over the last decade. We reviewed the empirical literature on the effects of CDHPs, which is based on the experience of these plans in the employer…

For more than fifty years, research in political psychology has illuminated the psychological processes underlying important political action, both by ordinary citizens and by political leaders.

And as America has become increasingly…

This handbook provides a comprehensive overview of state-of-the-art, innovative approaches to qualitative research for organizational scholars. Individual chapters in each area are written by experts in a variety of fields, who have contributed…

What determines risk-bearing capacity and the amount of leverage in financial markets? Using unique archival data on collateralized lending, we show that personal experience can affect individual risk-taking and aggregate leverage. When an…

No abstract available.

For policymakers, economics is a useful tool in the development and evaluation of public policy. And like many sciences, economics is evolving to become more interdisciplinary in its approach. Today, economic theory is often used in conjunction…

We extend the Clark-Scarf serial multi-echelon inventory model to include procuring production inputs under short-term take-or-pay contracts at one or more stages. In each period, each such stage has the option to order/process at two different…

Motivated by the recent opening of a public stool bank that enables fecal microbiota transplantation for the treatment of Clostridium difficile infection, we develop and optimize a mathematical model that tracks the flow of stools from donation…

A new class of online services allows Internet media sites to direct users from articles they are currently reading to other content they may be interested in. This process creates a “browsing path” along which there is potential for repeated…

This paper explores firms’ strategic options when their investments are subject to the threat of government expropriation. I develop a simple hold-up model of political risk. In the model, a firm decides whether to invest and then the government…

Social psychologists have long demonstrated that people are stereotyped on the basis of race. Researchers have conducted extensive experimental studies on the negative stereotypes associated with Black Americans in particular. Across 4 studies,…

Implicit theories have great potential relevance to shape theory and research in consumer psychology. Beliefs about the stability or malleability of human characteristics can affect the behaviors of companies and customers alike, including the…