Publications

We compare health care spending in public and private Medicare using newly available claims data from Medicare Advantage (MA) insurers. MA insurer revenues are 30 percent higher than their health care spending. Adjusting for enrollee mix, health…

People seek to spend time in positive experiences, enjoying and savoring. Yet there is no escaping negative experiences, from the mundane (e.g., arguing) to the massive (e.g., death of a child). Might negative experiences confer a hidden benefit…

What makes an asset a “safe asset”? We study a model where two countries each issue sovereign bonds to satisfy investors’ safe asset demands. The countries differ in the float of their bonds and their resources/fundamentals available to rollover…

We develop a tractable and versatile model of pretrial negotiation in which the negotiating parties are optimistic about the judge’s decision and anticipate the possible arrival of public information about the case prior to the trial date. The…

Firms have an incentive to test competitors’ products to reveal violations of safety and environmental standards, in order to have competitors’ products blocked from sale. This paper shows that testing by a regulator crowds out testing by…

Although the aggregate capital share of U.S. firms has increased, capital share at the firm‐level has decreased. This divergence is due to mega‐firms that produce a larger output share without a proportionate increase in labor compensation. We…

When multiple firms are simultaneously running experiments on a platform, the treatment effects for one firm may depend on the experimentation policies of others. This paper presents a set of causal estimands that are relevant to such an…

Pre‐college advising programs exist in most disadvantaged high schools throughout the United States. These programs supplement traditional advising by high school guidance counselors and attempt to help underrepresented and disadvantaged students…

We discuss the relevance of the recent Machine Learning (ML) literature for economics and econometrics. First we discuss the differences in goals, methods and settings between the ML literature and the traditional econometrics and statistics…

A three-tiered framework for making human-centered design more inclusive of people with disabilities can help organizations improve their own programs.

This paper studies optimal contracts when managers manipulate their performance measure at the expense of firm value. Optimal contracts defer compensation. The manager’s incentives vest over time at an increasing rate, and compensation becomes…

Participants race toward completing an innovation project and learn about its feasibility from their own efforts and their competitors’ gradual progress. Information about the status of competition can alleviate some of the uncertainty inherent…

The “freemium” model for digital goods involves selling a base version of the product for free, and making premium product features available to users only on payment. The success of the model is predicated on the ability to profitably convert…

Candidate debates have a rich history and remain integral to contemporary campaign strategy. There is, however, little evidence that they affect the behavior of voters or politicians. The scarcity of political information in the developing world…

We find that firms’ tax planning exhibits strategic reactions: firms respond to changes in their industry-competitors’ tax planning by changing…

This article summarizes the Opportunity Zone incentive in the Tax Cuts and Jobs Act by providing descriptive statistics on the selected zones, outlining considerations for investors, and using data on the New Markets Tax Credit to inform…

Why are some people more successful than others at fitting in culturally over time? Prior research has offered divergent and seemingly inconsistent answers to this question. One perspective has highlighted the importance of shared values in…

Many individuals in advanced consumer economies prefer authentic producers, products, and services. An important but overlooked question concerns the psychology behind such preferences: How do individuals act on authenticity when they encounter…

Both older individuals and women are proscribed from engaging in power-related behaviors, with women proscribed from behaving agentically and older individuals expected to cede desirable resources through “Succession.” However, little is known…

We study the role of limited commitment in a standard auction environment. In each period, the seller can commit to an auction with a reserve price but not to future reserve prices. We characterize the set of equilibrium profits attainable for…