Publications

We develop a general and unified model in which a continuum of agents conduct directed random searches for counterparties. Our results provide the first probabilistic foundation for static and dynamic models of directed search (including the…

Community targeting of vote payments — defined as the saturation of entire neighborhoods with cash prior to elections — is widespread in the developing world. In this paper, we utilize laboratory experiments conducted in the U.S. and Kenya to…

There is post-FOMC announcement drift in Treasury markets after Fed Funds target changes. The expectations hypothesis holds on FOMC announcement days, but fails thereafter. The same-day response of 10-year Treasury yields to a 10 bps. surprise in…

We extend the emergent lens on strategy formulation by arguing that great strategies arise from insurgent identity movements. In motivating the paper, we depict Steve Jobs as an activist constituted by the personal computing movement that…

American politics overrepresents the wealthy. But what policies do the wealthy support? Many accounts implicitly assume the wealthy are monolithically conservative and that increases in their political power will increase inequality. Instead, we…

Research shows that optimism can positively impact health, but when and why people feel optimistic when confronting health challenges is less clear. Findings from six studies show that the frames people adopt when thinking about health challenges…

We test the hypothesis that, to avoid provoking minorities, Whites will withhold their support for White political candidates who are highly identified with their race. In Study 1, we found that White Republicans were less supportive of White…

The accumulation and advancement of gender scholarship over past decades has led us to the point where gender scholars today can leverage our deep understanding of the reproduction of gender inequality to develop and test models of change. In…

Previous research has shown that material goods can help people self-express, either because the products are themselves self-expressive (e.g., a band t-shirt) or because the products are associated with a desired group. This article examines a…

Based on a large sample of publicly listed and non-listed US commercial banks from 1996 to 2011, we find robust evidence consistent with banks using realized available for sale (AFS) securities gains and losses to smooth earnings and increase low…

Current theories suggest that people understand how to exploit common biases to influence others. However, these predictions have received little empirical attention. We consider a widely studied bias with special policy relevance: the default…

We present a laboratory experiment to study the effect of communication on durable coalitions — coalitions that support the same allocation from one period to the next. We study a bargaining setting where the status quo policy is determined by…

The progress in artificial intelligence (AI), fueled by big data, is transforming the economy, culture, society, and lives of individuals. It is also transforming behavioral science: We can ask new kinds of questions and answer old ones in new…

In some developing nations, many end-stage renal disease (ESRD) patients die because the costs of kidney transplantation and dialysis are beyond the reach of most citizens. In this paper, we analyze two proposals for extending kidney exchange to…

People value experiences in part because of the memories they create. Yet, we find that people systematically overestimate how much they will retrospect about their experiences. This overestimation results from people focusing on their desire to…

In this Closer Look, we examine the roles that leadership and culture play in contributing to chronic misbehavior and the manner in which it takes root in an organization. We use the example of Uber Technologies. Between 2012 and 2017, Uber…

There are a lot of jerks in the workplace. I should know. Over the last decade, since I began digging into the effects of incivility, thousands of people have asked me for advice about dealing with bullying bosses, board members,…

We document that the relative placement of analysts’ target price within their subjective distribution of scenario-based valuations for the covered firm (i.e., tilt) is informative to investors. When analysts forecast price appreciation, tilt…