Publications

Early in the COVID-19 pandemic, much of the U.S. economy was closed to limit the virus’s spread, and several emergency interventions were implemented. Our analysis of older (45–75) respondents fielded in April–May of 2020 indicates that about 1…

We study a newly designed survey administered to a large panel of wealthy retail investors. The survey elicits beliefs that are important for macroeconomics and finance, and matches respondents with administrative data on their portfolio…

This paper characterizes the importance of ownership networks of firms that are subject to a prominent energy regulation in China: the Top 1000 Enterprises Energy-Saving Program. We use data on the activities of regulated and unregulated firms…

Problem definition: We consider a platform that charges commission rates and subscription fees to sellers and buyers for facilitating transactions but does not directly control the transaction prices, which are endogenously determined. Buyers and…

To fight obesity and educate consumers on how the human body functions, health education and marketing materials often highlight the importance of adopting a cognitive approach to food. One strategy employed to promote this approach is to …

Part of thesis finalist of 2015 INFORMS George Dantzig Dissertation Award. Second place 2015 M&SOM Student Paper Competition.

We consider the problem faced by a procurement agency that runs a mechanism for constructing an…

We find strong empirical support for the risk-shifting mechanism to account for the puzzling negative relation between idiosyncratic volatility and future stock returns. First, equity holders take on investments with high idiosyncratic risk when…

Firm managers likely have more information than outsiders. If managers strategically conceal information, market uncertainty will increase. We develop a dynamic corporate disclosure model, estimating the model using the management earnings…

The communication revelation principle (RP) of mechanism design states that any outcome that can be implemented using any communication system can also be implemented by an incentive-compatible direct mechanism. In multistage…

Negative experiences contribute to provider dissatisfaction and burnout. Prior research suggests that negative experiences have greater impact on individuals than positive experiences.

Interviews were conducted with surgical and oncology…

In this paper we study estimation of and inference for average treatment effects in a setting with panel data. We focus on the setting where units, e.g., individuals, firms, or states, adopt the policy or treatment of interest at a particular…

COVID-19 drove a mass social experiment in working from home. We survey more than 30,000 Americans over multiple waves to investigate whether WFH will stick, and why. Our data say that 20 percent of full workdays will be supplied from home after…

Adaptive experiment designs can dramatically improve statistical efficiency in randomized trials, but they also complicate statistical inference. For example, it is now well known that the sample mean is biased in adaptive trials. Inferential…

Overcoming the COVID-19 pandemic requires motivating the vast majority of Americans to be vaccinated. However, vaccination rates have become politically polarized and a substantial proportion of Republicans have remained vaccine-hesitant for…

Little is known about why CEOs voluntarily purchase shares of their firm other than to earn direct profits. Since CEOs are risk-averse, undiversified, and face…

The rapid transition to a decarbonized energy economy is widely believed to hinge on the rate of cost improvements for certain clean energy technologies, in particular renewable power and energy storage. This paper adopts the classical learning-…

Women are less financially literate than men. It is unclear whether this gap reflects a lack of knowledge or, rather, a lack of confidence. Our survey experiment shows that women tend to disproportionately respond “do not know” to questions…

We study the role of financial flexibility on COVID-19 employment actions. Using daily data from March through May 2020 for 354 of the largest U.S. employers, we find that firms facing a negative demand shock were 28.8 percentage points more…

Two-sided marketplace platforms often run experiments to test the effect of an intervention before launching it platform-wide. A typical approach is to randomize individuals into the treatment group, which receives the intervention, and the…

How does news about the economy influence voting decisions? We isolate the effect of the information environment from the effect of change in the underlying economic conditions themselves by taking advantage of left‐digit bias…