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- Faculty Publications (276)
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All HBS Web
(1,584)
- Faculty Publications (276)
- Article
Deception and Its Detection: Effects of Monetary Incentives and Personal Relationship History
By: Lyn M. Van Swol, Deepak Malhotra and Michael T. Braun
The study examined detection of deception in unsanctioned, consequential lies between either friends or strangers using an ultimatum game. The sender was given an amount of money to divide with the receiver. The receiver did not know the precise amount the sender had...
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Van Swol, Lyn M., Deepak Malhotra, and Michael T. Braun. "Deception and Its Detection: Effects of Monetary Incentives and Personal Relationship History." Communication Research 39, no. 2 (April 2012): 217–238.
- 2012
- Article
The Excess Burden of Government Indecision
By: Francisco J. Gomes, Laurence J. Kotlikoff and Luis M. Viceira
Governments are known for procrastinating when it comes to resolving painful policy problems. Whatever the political motives for waiting to decide, procrastination distorts economic decisions relative to what would arise with early policy resolution. In so doing, it...
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Keywords:
Saving;
Risk and Uncertainty;
Investment Portfolio;
Decision Choices and Conditions;
Retirement;
Policy;
Government and Politics
Gomes, Francisco J., Laurence J. Kotlikoff, and Luis M. Viceira. "The Excess Burden of Government Indecision." Tax Policy and the Economy 26 (2012): 125–163.
- December 2011
- Article
Do Powerful Politicians Cause Corporate Downsizing?
By: Lauren Cohen, Joshua Coval and Christopher J. Malloy
This paper employs a new empirical approach for identifying the impact of government spending on the private sector. Our key innovation is to use changes in congressional committee chairmanship as a source of exogenous variation in state-level federal expenditures. In...
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Keywords:
Spending;
Private Sector;
Taxation;
Innovation and Invention;
Interest Rates;
Business and Government Relations;
Investment;
Employment;
Power and Influence
Cohen, Lauren, Joshua Coval, and Christopher J. Malloy. "Do Powerful Politicians Cause Corporate Downsizing?" Journal of Political Economy 119, no. 6 (December 2011): 1015–1060. (Click here for a response to Snyder and Welch, click here for the data, and click here for the code.)
- December 2011
- Article
Economics Education and Greed
By: Long Wang, Deepak Malhotra and J. Keith Murnighan
The recent financial crisis, and repeated corporate scandals, raise serious questions about whether a business school education contributes to what some have described as a culture of greed. The dominance of economic-related courses in MBA curricula led us to assess...
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Wang, Long, Deepak Malhotra, and J. Keith Murnighan. "Economics Education and Greed." Academy of Management Learning & Education 10, no. 4 (December 2011): 643–660.
- Article
The Learning Effects of Monitoring
By: Dennis Campbell, Marc Epstein and F. Asis Martinez-Jerez
This paper investigates the relationship between monitoring, decision making, and learning among lower-level employees. We exploit a field-research setting in which business units vary in the "tightness" with which they monitor employee decisions. We find that tighter...
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Keywords:
Learning;
Business or Company Management;
Decision Making;
Employees;
Research;
Resignation and Termination;
Rights;
Business Units;
Governance Controls;
Performance;
Motivation and Incentives
Campbell, Dennis, Marc Epstein, and F. Asis Martinez-Jerez. "The Learning Effects of Monitoring." Accounting Review 86, no. 6 (November 2011): 1909–1934.
- Article
The Factor Environmental Ratings Miss
By: Auden Schendler and Michael W. Toffel
There's a problem with most major environmental rankings of businesses: too often, the ratings fail to incorporate advocacy activities that influence environmental regulation.
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Keywords:
Governing Rules, Regulations, and Reforms;
Problems and Challenges;
Rank and Position;
Environmental Sustainability;
Power and Influence
Schendler, Auden, and Michael W. Toffel. "The Factor Environmental Ratings Miss." MIT Sloan Management Review 53, no. 1 (Fall 2011): 17–18.
- June 28, 2011
- Article
Using Implementation Intentions Prompts to Enhance Influenza Vaccination Rates
By: Katherine L Milkman, John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
We evaluate the results of a field experiment designed to measure the effect of prompts to form implementation intentions on realized behavioral outcomes. The outcome of interest is influenza vaccination receipt at free on-site clinics offered by a large firm to its...
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Keywords:
Behavioral Economics;
Nudge;
Libertarian Paternalism;
Public Health;
Flu Shot;
Behavior;
Consumer Behavior;
Health Care and Treatment;
Cognition and Thinking
Milkman, Katherine L., John Beshears, James J. Choi, David Laibson, and Brigitte C. Madrian. "Using Implementation Intentions Prompts to Enhance Influenza Vaccination Rates." Proceedings of the National Academy of Sciences 108, no. 26 (June 28, 2011): 10415–10420.
- Article
The Artful Dodger: Answering the Wrong Question the Right Way
By: Todd Rogers and Michael I. Norton
What happens when speakers try to "dodge" a question they would rather not answer by answering a different question? In 4 studies, we show that listeners can fail to detect dodges when speakers answer similar-but objectively incorrect-questions (the "artful dodge"), a...
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Rogers, Todd, and Michael I. Norton. "The Artful Dodger: Answering the Wrong Question the Right Way." Journal of Experimental Psychology: Applied 17, no. 2 (June 2011): 139–147.
- December 2010
- Article
Nominal versus Indexed Debt: A Quantitative Horse Race
By: Laura Alfaro and Fabio Kanczuk
The main arguments in favor of and against nominal and indexed debt are the incentive to default through inflation versus hedging against unforeseen shocks. We model and calibrate these arguments to assess their quantitative importance. We use a dynamic equilibrium...
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Keywords:
Borrowing and Debt;
Motivation and Incentives;
Inflation and Deflation;
System Shocks;
Taxation;
Risk and Uncertainty;
Framework;
Problems and Challenges;
Interest Rates;
Cost;
Developing Countries and Economies;
Service Operations
Alfaro, Laura, and Fabio Kanczuk. "Nominal versus Indexed Debt: A Quantitative Horse Race." Journal of International Money and Finance 29, no. 8 (December 2010): 1706–1726. (Also Harvard Business School Working Paper No. 05-053 and NBER Working Paper No. 13131.)
- 2010
- Working Paper
Cognitive Barriers to Environmental Action: Problems and Solutions
By: Lisa L. Shu and Max Bazerman
We explore interventions at the individual level and focus on recognized cognitive barriers from behavioral decision-making literature. In particular, we highlight three cognitive barriers that impede sound individual decision making that have particular relevance to...
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Keywords:
Decision Choices and Conditions;
Judgments;
Consumer Behavior;
Environmental Sustainability;
Cognition and Thinking;
Prejudice and Bias
Shu, Lisa L., and Max Bazerman. "Cognitive Barriers to Environmental Action: Problems and Solutions." Harvard Business School Working Paper, No. 11-046, November 2010.
- 2010
- Working Paper
Valuation When Cash Flow Forecasts Are Biased
This paper focuses adaptations to the discount cash flow (DCF) method when valuing forecasted cash flows that are biased measures of expected cash flows. I imagine a simple setting where the expected cash flows equal the forecasted cash flows plus an omitted downside....
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Keywords:
Forecasting and Prediction;
Cash Flow;
Cost of Capital;
Performance Expectations;
Prejudice and Bias;
Valuation
Ruback, Richard S. "Valuation When Cash Flow Forecasts Are Biased." Harvard Business School Working Paper, No. 11-036, October 2010.
- September 2010
- Article
How Firms Respond to Being Rated
By: Aaron K. Chatterji and Michael W. Toffel
While many rating systems seek to help buyers overcome information asymmetries when making purchasing decisions, we investigate how these ratings also influence the companies being rated. We hypothesize that ratings are particularly likely to spur responses from firms...
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Keywords:
System;
Information;
Decisions;
Cost;
Opportunities;
Performance;
Business and Stakeholder Relations;
Economics;
Theory;
System Shocks;
Rank and Position
Chatterji, Aaron K., and Michael W. Toffel. "How Firms Respond to Being Rated." Strategic Management Journal 31, no. 9 (September 2010): 917–945. (Lead article.)
- July 2010 (Revised August 2021)
- Supplement
Vereinigung Hamburger Schiffsmakler und Schiffsagenten e.V. (VHSS): Valuing Ships (CW)
By: Benjamin C. Esty and Albert W. Sheen
After booming for more than five years, the global shipping (maritime) industry experienced a dramatic crash in late 2008 as the global financial system froze and the global economy slid into recession. Ship charter rates (revenue) fell by as much as 90% causing prices...
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- June 2010 (Revised August 2021)
- Case
Vereinigung Hamburger Schiffsmakler und Schiffsagenten e.V. (VHSS): Valuing Ships
By: Benjamin C. Esty and Albert Sheen
After booming for more than five years, the global shipping (maritime) industry experienced a dramatic crash in late 2008 as the global financial system froze and the global economy slid into recession. Ship charter rates (revenue) fell by as much as 90% causing prices...
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Keywords:
Fair Value Accounting;
Financial Crisis;
Capital Markets;
Financial Liquidity;
International Finance;
Globalized Markets and Industries;
Valuation;
Banking Industry;
Shipping Industry;
Germany
Esty, Benjamin C., and Albert Sheen. "Vereinigung Hamburger Schiffsmakler und Schiffsagenten e.V. (VHSS): Valuing Ships." Harvard Business School Case 210-058, June 2010. (Revised August 2021.)
- 2010
- Chapter
The Euro as a Reserve Currency for Global Investors
By: Luis M. Viceira and Ricardo Gimeno
This article explores the demand for the euro for risk management purposes and the evidence of stock market integration in the euro area. We define a reserve currency as one that investors demand either because it helps them hedge real interest risk and inflation risk,...
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Keywords:
Volatility;
Inflation and Deflation;
Capital Markets;
Currency;
Stocks;
Financial Markets;
Financing and Loans;
Investment Return;
Investment Portfolio;
Risk Management
Viceira, Luis M., and Ricardo Gimeno. "The Euro as a Reserve Currency for Global Investors." Chap. 4 in Spain and the Euro. The First Ten Years, 149–178. Madrid, Spain: Banco de España, 2010.
- 2010
- Working Paper
Men as Cultural Ideals: How Culture Shapes Gender Stereotypes
By: Amy J.C. Cuddy, Susan Crotty, Jihye Chong and Michael I. Norton
Three studies demonstrate how culture shapes the contents of gender stereotypes, such that men are perceived as possessing more of whatever traits are culturally valued. In Study 1, Americans rated men as less interdependent than women; Koreans, however, showed the...
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Cuddy, Amy J.C., Susan Crotty, Jihye Chong, and Michael I. Norton. "Men as Cultural Ideals: How Culture Shapes Gender Stereotypes." Harvard Business School Working Paper, No. 10-097, May 2010.
- February 2010 (Revised April 2010)
- Case
China: Getting Richer Still
By: Diego A. Comin and Richard H. K. Vietor
In the last quarter of 2009, China's GDP growth rate again approached 10%. While the global financial crisis had certainly hurt - causing layoffs of as many as 20 million factory workers - a huge stimulus package on top of continuing domestic demand had restored...
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- 2010
- Article
Multi-Rater Assessment of Creative Contributions to Team Projects in Organizations
By: Giovanni B. Moneta, Teresa M. Amabile, Elizabeth Schatzel and Steve J. Kramer
This study examined the convergent and construct validity of ratings of individual creative contributions in a team context. A sample of 201 employees and supervisors, working on 26 team projects, completed the NEO-Five Factor Inventory and rated themselves and their...
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Moneta, Giovanni B., Teresa M. Amabile, Elizabeth Schatzel, and Steve J. Kramer. "Multi-Rater Assessment of Creative Contributions to Team Projects in Organizations." European Journal of Work and Organizational Psychology 19, no. 2 (2010): 150–176.
- Article
The Economics of Structured Finance
By: Joshua D. Coval, Jakub W. Jurek and Erik Stafford
This paper investigates the spectacular rise and fall of structured finance. The essence of structured finance activities is the pooling of economic assets like loans, bonds, and mortgages, and the subsequent issuance of a prioritized capital structure of claims, known...
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Keywords:
Financial Crisis;
Asset Management;
Debt Securities;
Investment;
Risk Management;
Behavior
Coval, Joshua D., Jakub W. Jurek, and Erik Stafford. "The Economics of Structured Finance." Journal of Economic Perspectives 23, no. 1 (Winter 2009): 3–25.
- September 2009 (Revised September 2010)
- Case
Genzyme Center (A)
By: Michael W. Toffel and Aldo Sesia
Genzyme Corporation is in the midst of planning its new corporate headquarters, which incorporates many innovative green building features. After learning that the building as planned would likely earn a LEED Silver rating, an intermediate score in the LEED green...
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Keywords:
Green Building;
LEED Rating System;
Economic And Environmental Performance;
Program Evaluation And Assessment;
Tradeoffs Between Process- And Performance Standards;
Buildings and Facilities;
Business Headquarters;
Governing Rules, Regulations, and Reforms;
Standards;
Corporate Social Responsibility and Impact;
Performance Improvement;
Environmental Sustainability;
Pollutants;
Green Technology Industry
Toffel, Michael W., and Aldo Sesia. "Genzyme Center (A)." Harvard Business School Case 610-008, September 2009. (Revised September 2010.)