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- All HBS Web (333)
- Faculty Publications (188)
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- 04 Mar 2014
- First Look
First Look: March 4
total consumer traffic for higher revenues derived by exposing consumers to unsolicited products (e.g., advertising). We show that competition between platforms leads to lower equilibrium levels of search diversion relative to a monopoly... View Details
Keywords: Sean Silverthorne
- 15 Aug 2006
- First Look
First Look: August 15, 2006
joint decision of holding sovereign debt and reserves, we construct a stochastic dynamic equilibrium model calibrated to a sample of emerging markets. We obtain that the optimal policy is not to hold reserves at all. This finding is... View Details
Keywords: Sean Silverthorne
- 17 May 2011
- First Look
First Look: May 17
and Matthew C. Weinzierl Abstract This paper examines the optimal response of monetary and fiscal policy to a decline in aggregate demand. The theoretical framework is a two-period general equilibrium model in which prices are sticky in... View Details
Keywords: Sean Silverthorne
- 02 May 2008
- What Do You Think?
What is the Future of State Capitalism?
the success of currencies in markets in which they invest? Or, alternatively, will the situation take care of itself as a new equilibrium reoccurs when those managing huge pools of money and gigantic corporations succumb to inefficiencies... View Details
Keywords: by Jim Heskett
- 13 Mar 2012
- First Look
First Look: March 13
firm's investment opportunities. We apply Perfect Bayesian equilibrium solution concepts and confirm that over a range of reasonable model parameters the firm's investment decision does not maximize expected profits. Surprisingly, this... View Details
Keywords: Sean Silverthorne
- 26 Apr 2011
- First Look
First Look: April 26
expected profits. Using an extension to the newsvendor model, we focus on a relatively common scenario in which the firm's investor has imperfect information concerning the quality of the firm's investment opportunities. We apply Perfect Bayesian View Details
Keywords: Sean Silverthorne
- 01 Mar 2011
- First Look
First Look: March 1
asymmetric equilibrium where only one retailer elects to operate an online arm but earns lower profits than its bricks-only rival. We also characterize equilibria where firms open an online channel, even though consumers only use it for... View Details
Keywords: Sean Silverthorne
- 05 Jun 2012
- First Look
First Look: June 5
ability of a firm to transfer its capabilities across markets: no learning, local learning, and global learning. Three equilibrium strategies arise: accommodate, marginalize, and collocate. We identify how these strategies emerge... View Details
Keywords: Sean Silverthorne
- 02 Apr 2013
- First Look
First Look: April 2
possibility of platforms investing in "educating" unsophisticated users. In a competitive environment, such education is a public good among platforms and therefore the equilibrium level is lower than the one that would maximize... View Details
Keywords: Sean Silverthorne
- 14 Apr 2009
- First Look
First Look: April 14, 2009
varieties, we show that there is no pure strategy symmetric price equilibrium in general (for n > 2 with linear transportation costs). In turn, if the limitation on the number of varieties consumers purchase comes from a budget... View Details
Keywords: Martha Lagace
- 05 Nov 2013
- First Look
First Look: November 5
as this increases the utility they derive from the service, but they incur disutility from information disclosure. This, in turn, benefits the firm providing an additional source of revenue, but reduces consumer demand for the service. We characterize View Details
Keywords: Sean Silverthorne
- 10 Jun 2002
- Research & Ideas
How to Look at Globalization Now
fixed costs/scale sensitivity on the supply side, are all capable of reducing the equilibrium level of global standardization, as is the ability of local producers to pre-commit costs to particular markets. Convergence of the price of the... View Details
Keywords: by Martha Lagace
- 23 May 2011
- Op-Ed
Leading and Lagging Countries in Contributing to a Sustainable Society
society. In Unsustainable countries—including China, Hong Kong, and South Korea—there was very little integrated reporting by companies and very little interest by investors in nonfinancial performance metrics. These countries need a regulatory shock in order to break... View Details
Keywords: by Robert G. Eccles & George Serafeim
- 07 Aug 2012
- First Look
First Look: August 7
several features of the data, including equilibrium dividend policies similar to a Lintner partial-adjustment model; modal dividend changes of zero, stronger market reactions to dividend cuts than increases, relative infrequency and... View Details
Keywords: Sean Silverthorne
- 06 May 2014
- First Look
First Look: May 6
economy" industries. They can, but do not necessarily, lead to market tipping, unless they outweigh customers' benefits from differentiation and are accompanied by high switching and multi-homing costs. Network effects create the possibility for multiple View Details
Keywords: Sean Silverthorne
- 12 Jul 2016
- First Look
July 12, 2016
Landvoigt Abstract—How does the shadow banking system respond to changes in the capital regulation of commercial banks? This paper builds a quantitative general equilibrium model with commercial banks and shadow banks to study the... View Details
Keywords: Sean Silverthorne
- 14 May 2013
- First Look
First Look: May 14
diversion relative to competition for consumers. Both types of competition lead to at least as much search diversion as a monopoly platform. Nevertheless, in the case of competing platforms, the equilibrium level of search diversion... View Details
Keywords: Sean Silverthorne
- 30 Mar 2010
- First Look
First Look: March 30
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 model with tax distortion, government outlays... View Details
Keywords: Sean Silverthorne
- 09 Mar 2010
- First Look
First Look: March 9
match between firms, managers, and incentives using a new survey that contains information on managers' risk preferences and human capital, on their compensation schemes, and on the firms they work for. The data is consistent with the View Details
Keywords: Martha Lagace
- 29 May 2012
- First Look
First Look: May 29
equilibrium outcome of a game where a person can-at a cost-look ahead, investigate, and announce a set of (intended or actual) choices to the rest of the organization. Strategy is also-in some precise sense-the smallest set of decisions... View Details
Keywords: Sean Silverthorne