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Journal Articles

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View scholarly works-in-progress by Stanford GSB faculty, which often appear in final form in academic journals.

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Working Paper

Generative AI in Equilibrium: Evidence from a Creative Goods Marketplace

Samuel Goldberg, H. Tai Lam
May2025

Artists and policy makers are concerned that Generative Artificial Intelligence (GenAI) may lead to disappearance of non-GenAI content. In this paper we study the implications of GenAI for the production and consumption of creative goods; such as…

Journal Article

Implementing a Prediction Driven Framework for Emergency Department Nurse Staffing to Optimize Real Time Decisions

Yue Hu, Carri W. Chan, Jing Dong, Alice Kazekjian, Chayapol Ophaswongse, Gregory Sugalski, Joseph P. Underwood, Rimma Perotte
npj Health Systems May2025 Vol. 2 Issue 16

This study implemented and evaluated a prediction-driven nurse staffing framework in a large adult emergency department. The framework leveraged a two-stage prediction model that forecasted patient volume and guided staffing decisions. Using a…

Journal Article

Innovations in Corporate Carbon Accounting

Stefan J. Reichelstein
Foundations and Trends in Accounting May2025 Vol. 19 Issue 3–4 Pages 9–45.

With the climate crisis intensifying in urgency, the stakeholders of global companies are clamoring for more reliable reporting regarding a company’s overall carbon footprint as well as the emissions attributed to individual products and services…

Journal Article

Insights From Refusal Patterns for Deceased Donor Kidney Offers

Grace Guan, Sanjit Neelam, Joachim Studnia, Xingxing S. Cheng, Marc L. Melcher, Michael A. Rees, Alvin E. Roth, Paulo Somaini, Itai Ashlagi
Transplantation May2025

Background

The likelihood that a deceased donor kidney will be used evolves during the allocation process. Transplant centers can either decline an organ offer for a single patient or for multiple patients at the same time. We…

Journal Article

Matching with Transfers Under Distributional Constraints

Devansh Jalota, Michael Ostrovsky, Marco Pavone
Games and Economic Behavior May2025 Issue 152 Pages 313–332.

We study two-sided many-to-one matching markets with transferable utilities in which money can exchange hands between matched agents, subject to distributional constraints on the set of feasible allocations. In such markets, we establish that…

Journal Article

Persuasion with Multiple Actions

Davit Khantadze, Ilan Kremer, Andrzej Skrzypacz
Journal of Political Economy May2025 Vol. 133 Issue 5 Pages 1497–1526.

We consider a Bayesian persuasion model in which multiple receivers take one action each. We compare simultaneous procedures with sequential ones. In a simultaneous procedure, all the receivers act simultaneously following the realization of a…

Working Paper

Putting Economics Back Into Geoeconomics

Christopher Clayton, Matteo Maggiori, Jesse Schreger
May2025

Geoeconomics is the use of a country’s economic strength to exert influence on foreign entities to achieve geopolitical or economic goals. We discuss how concepts of power in the political science and economics literature can be used to guide…

Journal Article

The Diffusion of New Technologies

Aakash Kalyani, Nicholas A. Bloom, Marcela Carvalho, Tarek Hassan, Josh Lerner, Ahmed Tahoun
The Quarterly Journal of Economics May2025 Vol. 140 Issue 2 Pages 1299–1365.

We identify phrases associated with novel technologies using textual analysis of patents, job postings, and earnings calls, enabling us to identify four stylized facts on the diffusion of jobs relating to new technologies. First, the development…

Journal Article

The Political Economy of Geoeconomic Power

Christopher Clayton, Matteo Maggiori, Jesse Schreger
American Economic Association Papers and Proceedings May2025 Vol. 115 Pages 588–92.

Great powers are increasingly using their economic and financial strength for geopolitical aims. This rise of “geoeconomics” has the potential to reshape the international trade and financial system. This paper examines the role of domestic…

Working Paper

The Shadow Price of “Public” Information

Ed deHaan, Chanseok Lee, Miao Liu, Suzie Noh
May2025

Converting public information into stock picks is unlikely to be costless, yet the magnitude of public information processing costs is unknown. We quantify extra-marginal information costs for mutual fund managers by building an “AI analyst” that…

Journal Article

Two-Sided Matching in the Audit Market

Ken Li, Maureen McNichols, Aneesh Raghunandan
The Accounting Review May2025 Vol. 100 Issue 3 Pages 363–394.

We develop and estimate a two-sided matching model of auditors and clients. We find evidence that auditors and clients engage in matching based on their preferences on both observable and unobservable characteristics. This matching appears to…

Journal Article

An Absence of Accountability: Evidence of Employers’ Failure to Measure and Manage Employee Health Benefits Administration

Sara Singer, Jeffrey Pfeffer, Margaret C. Nikolov
Social Science & Medicine April302025 Vol. 377

Because employers provide health benefits to >50% of the working age U.S. population, benefits managers at companies who purchase and potentially oversee design and delivery of health benefits have an important role in affecting healthcare…

Working Paper

Beauty as a Goal: Creating Harmony Between Health and Taste

Eda Erensoy, Louise Lu, Jennifer Aaker, Ayelet Fishbach
April272025

Individuals frequently perceive a tradeoff between health and taste, leading to poor dietary choices. This research identifies a novel pathway to healthier eating by harmonizing seemingly conflicting goals: seeking beauty in food. Across seven…

Journal Article

Does Expressing Uncertainty Help or Harm Leaders?

Shilaan Alzahawi, Francis J. Flynn
The Leadership Quarterly April252025

Can leaders benefit from vocalizing uncertainty? Past research outlines two opposing positions. On one hand, individuals who express confidence signal competence and, as a result, attain greater influence in social groups. On the other hand,…

Working Paper

Using Multiple Outcomes to Adjust Standard Errors for Spatial Correlation

Stefano DellaVigna, Guido W. Imbens, Woojin Kim, David Ritzwoller
April172025

Empirical research in economics often examines the behavior of agents located in a geographic space. In such cases, statistical inference is complicated by the interdependence of economic outcomes across locations. A common approach to account…

Journal Article

Exorbitant Privilege Gained and Lost: Fiscal Implications

Zefeng Chen, Zhengyang Jiang, Hanno Lustig, Stijn Van Nieuwerburgh, Mindy Xiaolan
Journal of Political Economy April162025 Vol. 133 Issue 10

We study three centuries of U.K., U.S. and Dutch fiscal history. When a country is the dominant safe asset supplier, it can issue more debt than what is justified by its future primary surpluses, even after accounting for seigniorage revenue from…

Journal Article

"Don't You Plan on Voting?" The Motives and Effects of Peer Pressure in Voter Mobilization

Woojin Kim
Quarterly Journal of Political Science April142025 Vol. 20 Issue 2

This paper studies the motives behind socially pressuring others in the context of voter mobilization. In this online experiment, college students choose whether to send an email that pressures their campus peers to register to vote for the 2020…

Working Paper

Breaking Through the Ethnic Growth Trap

Saumitra Jha
April2025

In this overview piece, I review the literature and identify important directions for how developing societies can break out of such ethnic growth traps and instead leverage the gains that can often be had from ethnic diversity. To do this…

Journal Article

Brokered Distances: Trust in Brokers Within and Between Organizations

Nir Halevy, Eileen Y. Chou, Emma E. Levine, Maurice Schweitzer
Organizational Psychology Review April2025

Organizational brokers, such as producers, diplomats, and middle managers, connect people within and across organizations. Trust in brokers promotes their effectiveness in connecting unfamiliar counterparts and transferring information between…

Journal Article

Customer Data Access and Fintech Entry: Early Evidence from Open Banking

Tania Babina, Saleem Bahaj, Greg Buchak, Filippo De Marco, Angus Foulis, Will Gornall, Francesco Mazzola, Tong Yu
Journal of Financial Economics April2025 Vol. 169

Open banking (OB) empowers bank customers to share their financial transaction data with fintechs and other banks. New cross-country data shows 49 countries adopted OB policies, privacy preferences predict policy adoption, and adoption spurs…