Publications

We investigate whether the membership of a non-profit hospital’s CEO on its board of directors is associated with CEO pay and several measures of hospital performance, including price, operating margin, quality, and service to low-income patients…

Rendering the visual appearance of moving humans from occluded monocular videos is a challenging task. Most existing research renders 3D humans under ideal conditions, requiring a clear and unobstructed scene. Those previous methods cannot be…

Local-thinking bias, wherein agents overweight information that comes readily to mind, is a prominent finding in cognitive psychology. In this study, we investigate local-thinking bias in the context of sell-side analysts and measure each analyst…

Using agile supply chains, fast fashion companies have been viewed as best practice examples in industries. Prior research focuses on how agility can equip such companies with strong sense-and-respond capabilities to identify and fulfill…

We examine the spillover effects of local initial public offerings (IPOs) on new business formation. An IPO in a local area is associated with a 1% to 4% increase in new business registrations, and this effect is particularly pronounced in…

Firms’ diversity, equity, and inclusion (DEI) policies have received significant scrutiny in recent years, including their efficacy and role in long-term value creation. We provide new evidence on these issues by studying what is arguably the…

Background: Within the past decade, digital coaching programs (DCPs) have emerged as an evidence-based modality to improve mental well-being and emotional intelligence (EI), although there is limited evidence in real-world…

Research Summary

We investigate why firms imitating the same competitor’s strategy in the same environment often replicate different components of that strategy. We argue that such divergence can arise because firms vary in the…

Over the last decade, new research has shown how human collectives can develop technologies that no single individual could discover on their own. However, this research often overlooks how technology can become so complex that individuals cannot…

System innovation is a signature feature of agri-food system transformation. Such system innovation often occurs in niches. However, how the “green shoots” of transformation can be detected and appraised through time remains ambiguous. This paper…

Governments increasingly use randomized controlled trials (RCTs) to test innovations, yet we know little about how they incorporate results into policymaking. We study 30 US cities that ran 73 RCTs with a national nudge unit. Cities adopt a nudge…

I highlight how mutual negative feedback between ethnic divisions, under-investment in public goods and violent conflict imply the presence of ethnic growth traps in many developing societies. I then identify important…

Obesity and excess weight are major global health challenges. A number of technological solutions, including mobile apps, have been developed to help people lose weight. Many such applications provide access to human coaches who help consumers…

Effective information sharing is critical for the success of organizations and governments. Because information that is easy to access is more likely to be adopted, leaders often minimize friction in information delivery. However, one type of…

Economists routinely make functional form assumptions on demand curves to derive welfare conclusions. How sensitive are these conclusions to such assumptions? In this paper, we develop robustness measures that quantify the extent to which the…

In the evolving landscape of healthcare, hospital medicine is expanding beyond traditional boundaries to address social drivers of health (SDOHs), which necessitates increased community partnership and engagement. At Stanford Medicine, the…

This article extends the canonical harm reduction approach to a wider set of applications, including conservation. The authors develop an economic model to illustrate the trade-offs inherent to harm reduction, weighing the benefits of reducing…

We examine how judicial efficiency, defined as a court’s ability to resolve patent cases quickly and in a manner that is mutually agreeable to both parties in the lawsuit, impacts corporate innovation. To do so, we exploit the Patent Pilot…

Measured as yield spreads against Treasury securities and AAA corporate bonds, the convenience premium of newly-issued agency MBS averages more than half of the long-term Treasury convenience premium. Agency MBS convenience premium and issuance…

We identify a model of early-stage company growth persistence. Using seven commercial high-growth company lists (either a Top 100 or 500 list), we find that 30% of companies remain on these lists for two consecutive years. This figure also…