Publications

The random priority (RP) mechanism is a popular way to allocate n objects to n agents with strict ordinal preferences over the objects. In the RP mechanism, an ordering over the agents is selected uniformly at random; the…

Research suggests that finding and hiring the right workers may be as important to firms as managing workers after they join organizations.  However, hiring the right workers is difficult.  In this paper trial employment is examined as…

The tremendous costs of conflict have made humans resourceful not only at warfare but also at peacemaking. Although third parties have acted as peacemakers since the dawn of history, little is known about voluntary, informal third-party…

Why are employee loyalty and effort sometimes not reciprocated by employers? Five experimental studies tested the hypothesis that people feel less obligated to reciprocate in an organizational as contrasted with a personal context. Studies 1A and…

Language use is a psychologically rich, stable individual difference with well-established correlations to personality. We describe a method for assessing personality using an open-vocabulary analysis of language from social media. We compiled…

We study the calculation of exact p-values for a large class of non-sharp null hypotheses about treatment effects in a setting with data from experiments involving members of a single connected network. The class includes null hypotheses that…

This paper investigates the impact of individuals’ social ties at organizational entry on the formation of intraorganizational networks. When individuals enter organizations with one or more preentry relationships in place, I argue they form more…

Why do consumers often feel pressed for time? This research provides a novel answer to this question: consumers’ subjective perceptions of goal conflict. The authors show that beyond the number of goals competing for consumers’ time,…

Consumers with limited discretionary money face important trade-offs when deciding how to spend it. In the current research, we suggest that feelings of financial constraint increase consumers’ concern about the lasting utility of their purchases…

Daily mutual fund (MF) flows are highly persistent and price-destabilizing, and short-sellers (SSs) trade strongly in the opposite direction to these flows. This negative relation is associated with the expected component of MF flows (based on…

This paper introduces a new measure of firm’s exposure to systematic distress risk — the probability of a recession at the time of a firm’s failure. For stocks in the top quintile of the probability of failure, a median hedge portfolio based on…

Once dismissed as unrealistically expensive, solar photovoltaic (PV) power has been on a remarkable run lately: according to Bloomberg Professional Service, in comparison to the start of the decade, the annual installations of new solar PV…

Researchers often report estimates and standard errors for the object of interest (such as a treatment effect) based on a single specification of a statistical model. We propose a systematic approach to assessing sensitivity to specification. We…

We use data from eBay to identify hundreds of thousands of instances in which retailers posted otherwise identical product listings with targeted variation in pricing and auction design. We use these matched listings to measure the dispersion in…

We test for consumption smoothing using bankruptcy data on players in the National Football League (NFL), who typically earn several million dollars during an income spike that lasts a few years. The life-cycle hypothesis predicts that players…

We use an extensive data set of bilateral credit default swap (CDS) positions to estimate the impact on collateral demand of new clearing and margin regulations. The estimated collateral demands include initial margin and the frictional…

We develop a model of policy experimentation in federal systems in which heterogeneous districts choose both whether to experiment and the policies to experiment with. The prospect of informational spillovers implies that in the first best the…

We present a model where heterogeneous districts choose both whether to experiment and the policies to experiment with. Since districts learn from each other, the first-best requires that policy experiments converge so that innovations are useful…

People vary widely in their temporal orientation — how often they emphasize the past, present, and future — and this affects their finances, health, and happiness. Traditionally, temporal orientation has been assessed by self-report…

Financial market imperfections can have significant impact on employment decisions of firms. We illustrate the economic importance of this channel by showing that employment decisions are constrained by firms’ financial health and liquidity. Our…