Publications

We provide causal evidence on the value of asset pledgeability by exploiting a unique feature of Chinese corporate bond markets: bonds with identical fundamentals are traded on two segmented markets with different rules for repo transactions.…

What environmental factors are associated with individual differences in political ideology, and do such associations change over time? We examine whether reductions in pathogen prevalence in U.S. states over the past 60 years are associated with…

Although consumers often have multiple payment methods at their fingertips, such as cash and credit/debit cards, prior research is silent on how consumers choose between them. We home in on a key element of purchase — purchase justifiability —…

We studied the effects of exposure to reshared content on Facebook during the 2020 U.S. election by assigning a random set of consenting, U.S.-based users to feeds that did not contain any reshares over a 3-month period. We find that removing…

Most U.S. government spending on highways and bridges is done through “scaling” procurement auctions, in which private construction firms submit unit price bids for each piece of material required to complete a project. Using data on bridge…

We develop new semiparametric methods for estimating treatment effects. We focus on a setting where the outcome distributions may be thick tailed, where treatment effects are small, where sample sizes are large and where assignment is completely…

In this note, we introduce a general version of the well-known elliptical potential lemma that is a widely used technique in the analysis of algorithms in sequential learning and decision-making problems. We consider a…

As news reports describing Artificial Intelligence (AI) proliferate, will people’s perceptions of human nature change such that they rate distinctively human attributes as more essential? Five studies (N = 5111) demonstrate this “AI…

College is regarded as the great equalizer. People with four-year degrees expect to reap the rewards of their education. This paper examines the pivotal transition from college to the labor market. How do candidates fare when they reveal to…

Every government that controls an exhaustible resource must decide whether to exploit it or to conserve and thereby let the subsequent government decide whether to exploit or conserve. This paper develops a positive theory of this situation and…

Using generalized random forests and rich Swedish administrative data, we show that the earnings effects of job displacement due to establishment closures are extremely heterogeneous across workers, establishments, and markets. The decile of…

We examine whether corporate money in politics benefits or hurts labor using the 2010 Supreme Court ruling Citizens United, which rendered bans on political election spending unconstitutional. In difference-in-difference analyses, affected states…

The torch-choice is an open-source library for flexible, fast choice modeling with Python and PyTorch. torch-choice provides a ChoiceDataset data structure to manage databases flexibly and memory-efficiently. The paper demonstrates constructing a…

There appears to be a tension between trade proponents and environmental activists. This paper shows, however, how Contingent Trade Agreements (CTAs) can motivate conservation. I first analyse a standard trade model where trade-specific…

We explore the welfare implications of data-tracking technologies that enable firms to collect consumer data and use it for price discrimination. The model we develop centers around two features: competition between firms and consumers’ level of…

We examine how information about the diversity of a potential employer’s workforce affects individuals’ job-seeking behavior. We embed a field experiment in job recommendation emails from a leading career advice agency in the U.S. The…

How do organizations reconcile the cross-pressures of conformity and differentiation? Existing research predominantly conceptualizes identity as something an organization has by virtue of the products or services it offers. Drawing on…

Using a wide sample of international publicly traded firms, this paper studies the rapidly increasing practice of incorporating Environmental, Social, and Governance (ESG) metrics in executive compensation contracts. Our evidence suggests that…