Publications

We present a new perspective on the Synthetic Control (SC) method as a weighted least squares regression estimator with time fixed effects and unit weights. This perspective suggests a generalization with two way (both unit and time) fixed…

We examine how U.S. individuals respond to regulation intended to reduce offshore tax evasion. Specifically, we study investment responses to the Foreign Account Tax Compliance Act (FATCA), which requires foreign financial institutions to report…

Two heterogeneous agents contribute over time to a joint project and collectively decide its scale. A larger scale requires greater cumulative effort and delivers higher benefits upon completion. We show that the efficient agent prefers a smaller…

This paper analyzes a game in which countries repeatedly make emission and technology investment decisions. We derive the best equilibrium, that is, the Pareto-optimal subgame-perfect equilibrium, when countries are insufficiently patient for…

Previous research has emphasized corporate lobbying as a pathway through which businesses influence government policy. This article examines a less-studied mode of influence: private regulation, defined as voluntary efforts by firms to restrain…

We introduce a novel measure of segregation, experienced isolation, that captures individuals’ exposure to diverse others in the places they visit over the course of their days. Using novel Global Positioning System (GPS) data collected…

In this paper, we demonstrate that the funding value adjustments (FVAs) of major dealers are debt overhang costs to their shareholders. To maximize shareholder value, dealer quotations therefore adjust for FVAs. Our case studies include interest‐…

This case (A), and its related cases (B-E), establish a setting to discuss an M&A transaction and some of the key legal contracts that are associated with it. In 2010, private equity backed food manufacturer Pierre Foods is contemplating the…

Sports lifestyle company Quiksilver filed for bankruptcy in September 2015. Oaktree is considering an additional investment in the company to facilitate the restructuring. Students must consider whether Oaktree should invest given the risks of…

In stochastic optimization, the population risk is generally approximated by the empirical risk which is in turn minimized by an iterative algorithm. However, in the large-scale setting, empirical risk minimization may be computationally…

Most public policies continue in effect until changed, and many are stable for extended periods even though they could be changed at any time. This paper presents a simple approach to characterizing Markov perfect equilibria of dynamic…

Workplace wellness programs have become increasingly common in the United States, although there is not yet consensus regarding the ability of such programs to improve employees’ health and reduce health care costs. In this paper, we study a…

Do differences in health literacy contribute to the widely documented health-income gradient? In the context of Sweden, we document a strong relationship between exposure to health-related expertise — captured by the presence of a health…

Existing research demonstrates that financial constraints are widespread and influence consumer attention, preference, choice, and consumption in a variety of ways. Despite the growing knowledge of how financial constraints affect the consumer…

We present a review of the diversity ideologies literature from the target’s perspective. In particular, we focus on how diversity ideologies — beliefs or organizational practices with regards to how to approach diversity — affect racial…

Two decades ago, McKinsey advanced the idea that large U.S. companies are engaged in a “war for talent” and that to remain competitive they need to make a strategic effort to attract, retain, and develop the highest-performing executives. To…

This paper describes a practical system for Multi Touch Attribution (MTA) for use by a publisher of digital ads. We developed this system for JD.com, an eCommerce company, which is also a publisher of digital ads in China. The approach has…

Counterattitudinal-argument generation is a powerful tool for opening people up to alternative views. Based on decades of research, it seems that this technique should be especially effective when people take the perspective of individuals who…

This paper develops and evaluates a theory of status belief transfer, the process by which gender status beliefs differentially affect the evaluations of products made by men and women. We conduct three online experiments to evaluate this theory…

A new dataset of organizational testimony at U.S. Congressional hearings on environmental protection is used to examine how social movement organizations use issue expertise to gain access to the policy process. Environmental movement…