Publications

In sharp contrast to most previous crisis episodes, the Treasury market experienced severe stress and illiquidity during the COVID-19 crisis, raising concerns that the safe-haven status of U.S. Treasuries may be eroding. We document large shifts…

Embracing the perspective of accounting as providing information to support capital allocation decisions could help avoid accounting issues ending up in the ‘Too Difficult’ Box. Investors need and use information not contained in traditional…

Sequential experiments are deployed in a variety of practices, including for optimizing product recommendations and pricing in online platforms. Such experiments are often characterized by an exploration-exploitation tradeoff that is well-…

A longstanding theory indicates that the threat of a common enemy can mitigate conflict between members of rival groups. We tested this hypothesis in a pre-registered experiment where 1670 Republicans and Democrats in the United States were asked…

Stanford Latino Entrepreneurship Initiative surveyed 15,000 employer businesses in 2021 as part of its annual national survey to assess the current state of U.S. Latino entrepreneurship. We have compiled some of the most pressing insights about…

Billing and insurance-related costs are a significant source of wasteful health care spending in Organization for Economic Cooperation and Development nations, but these administrative burdens vary across national systems. We executed a…

Using a novel measure incorporating stylistic and acoustic data on recorded music from 1967 to 2017, we search for trends in the evolution of diversity in 125,340 albums. We find that temporal patterns of diversity differ…

In this essay, I describe four symptoms of what John M. Ellis refers to as “the breakdown of higher education”: i) lack of diversity of opinion, ii) intolerance, iii) subversion of academic standards, and iv) politicization. I will argue that…

Stanford Latino Entrepreneurship Initiative surveyed 15,000 employer businesses in 2021 as part of its annual national survey to assess the current state of U.S. Latino entrepreneurship. We have compiled some of the most pressing insights about…

As emerging economic regions (EERs) play a significant role in global economies, managers of multinationals have become increasingly aware of the importance of relevant international expansion in these regions. Facing potential market…

Stanford Latino Entrepreneurship Initiative surveyed 15,000 employer businesses in 2021 as part of its annual national survey to assess the current state of U.S. Latino entrepreneurship. We have compiled some of the most pressing insights about…

Stanford Latino Entrepreneurship Initiative surveyed 15,000 employer businesses in 2021 as part of its annual national survey to assess the current state of U.S. Latino entrepreneurship. We have compiled some of the most pressing insights about…

This multidisciplinary report explores the economic and sociopolitical motives for China’s central bank digital currency and its implications for privacy, international security, and the leading role of the United States in global finance. Among…

Worker persistence — the ability to focus on a task for long periods of time — is often highlighted as essential to success. However, computers are extraordinarily persistent, particularly for routine, repetitive work. This potentially reduces…

We study the effects of corporate taxes on income inequality. Using state corporate taxes as a setting, we provide evidence that corporate tax cuts lead to increases in income inequality. This result is robust across regression, matching, and…

Corporations have faced a rising tide of activism by social movements over the past generation. Consumer boycotts, protests, divestment campaigns, shareholder proposals, and employee insurgencies have all become near-daily occurrences. At the…

Design thinking remains mired in controversy. Its proponents claim that it enhances not just confidence but also creativity, while the opponents question whether it does anything beyond building unfounded confidence. To bring rigorous evidence to…

In repeated games, strategies are often evaluated by their ability to guarantee the performance of the single best action that is selected in hindsight, a property referred to as Hannan consistency, or no-regret. However, the effectiveness of the…