Publications

Blockchain technology has real potential to provide business value. While many technical, financial, and regulatory hurdles still remain, blockchain offers significant opportunity for innovation along the value chain. 

The level of journalistic resources dedicated to coverage of local politics is in a long-term decline in the US news media, with readership shifting to national outlets. We investigate whether this trend is demand- or supply-driven, exploiting a…

As the workforce ages, how will the work lives of older people evolve? One way to ease into retirement is to move to the gig economy where workers choose hours and intensity of work that fit their needs and capabilities. However, older workers…

The increasing popularity of regression discontinuity methods for causal inference in observational studies has led to a proliferation of different estimating strategies, most of which involve first fitting nonparametric regression models on both…

BACKGROUND: Multiple comorbidities thought to be associated with poor coordination due to the need for shared treatment plans and active involvement of patients, among other factors. Cardiovascular and mental health comorbidities present…

Recently, there has been debate among corporate managers, board of directors, and institutional investors around how best to incorporate ESG (environmental, social, and governance) factors into strategic and investment decision-making processes.…

Energy storage will be key to overcoming the intermittency and variability of renewable energy sources. Here, we propose a metric for the cost of energy storage and for identifying optimally sized storage systems. The levelized cost of energy…

The dramatic drop in water levels in the Kinneret Lake (Sea of Galilee) during the past years is evaluated. Recently published measurements of temperature, precipitation and other hydrological data support the position that climate change is…

While previously polarization was primarily seen only in issue-based terms, a new type of division has emerged in the mass public in recent years: Ordinary Americans increasingly dislike and distrust those from the other party. Democrats and…

Studies have shown that participants can adequately take into account several cues regarding the weight they should grant majority opinions, such as the absolute and relative size of the majority. However, participants do not seem to consistently…

The welfare effects of vertical integration are ambiguous. Cost efficiencies and the elimination of double marginalization may offset increases in market power and incentives to raise rivals’ costs. To study the effects of vertical…

Partnering with the US Census Bureau, we implement a new survey of “structured” management practices in two waves of 35,000 manufacturing plants in 2010 and 2015. We find an enormous dispersion of management practices across plants, with 40…

We take issue with claims that the funding mix of banks, which makes them fragile and crisis-prone, is efficient because it reflects special liquidity benefits of bank debt. Even aside from neglecting the systemic damage to the economy that banks…

This chapter presents a selective review of a literature in marketing that analyzes diffusion and pricing over the product life-cycle. I primarily focus on empirical work, and on papers that deal with the dynamics of pricing over time. I discuss…

Conventional wisdom suggests that firms can benefit from coordinating pricing and production decisions. One way firms can coordinate such decisions is through private communication. However, private communication between competing firms is…

We develop a theory explaining how collectivism causes people to “blur” demographic differences, that is, to see less diversity than actually exists in a group, and reconciling contradictions in how collectivistic norms influence group…

This paper presents five facts on the behavior of U.S. banks between 2007 and 2015 that impose useful restrictions on the formulation of a bank problem. (1) Market to book leverage ratio diverged significantly during the crisis. (2) Book values…

Data from U.S. public firms show that in booms large firms finance with debt and payout equity, whereas small firms issue both equity and debt. Therefore, large firms generally substitute between debt and equity financing over the business cycle…