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- Faculty Publications (188)
- 01 Jun 2022
- News
Blissful Thinking
brain is structured to lie to you. There is a process called homeostasis, or the tendency toward equilibrium. You can’t stay out of equilibrium for long, but you’re going to try to get back out of it again by chasing success [which...
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Dan Morrell; illustration by Dan Winters
- 06 Jun 2017
- First Look
First Look at New Research and Ideas: June 6, 2017
of strategy as “the smallest set of choices to optimally guide (or force) other choices.” The paper shows that this definition coincides with the equilibrium outcome of a “strategy formulation game,” in which such strategy endogenously...
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Sean Silverthorne
- 05 Jan 2010
- First Look
First Look: January 5
concerns. Download the paper: http://www.hbs.edu/research/pdf/10-047.pdf PublicationsOptimal Auction Design and Equilibrium Selection in Sponsored Search Auctions Authors:Benjamin Edelman and Michael Schwarz Publication:American...
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Martha Lagace
- 03 Nov 2015
- First Look
November 3, 2015
evidence on the choices made by decision makers in such settings. Equilibrium assumptions that are commonly applied to analyze these situations yield the least cost-separating outcome as the unique equilibrium. In this equilibrium, the...
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Sean Silverthorne
- 04 Feb 2014
- First Look
First Look: February 4
choices to optimally guide the other choices." This definition captures the idea of strategy as the core of an intended course of action that is potentially flexible and adaptive. It coincides with the equilibrium outcome of a...
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Sean Silverthlorne
- 08 Jul 2008
- First Look
First Look: July 8, 2008
http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=607014 Asset Allocation I Harvard Business School Note 208-086 The goal of these simulations is to understand the mathematics of mean-variance optimization and the equilibrium...
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Martha Lagace
- 24 Feb 2014
- Research & Ideas
Busting Six Myths About Customer Loyalty Programs
competitive move would probably trigger retaliation from the attacked retailer, who would subsequently try to steal the focal retailer's loyal shoppers. It can easily be seen that such a strategy would punish all players, except the shopper. The condition for a...
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- 06 Jun 2005
- Research & Ideas
Microsoft vs. Open Source: Who Will Win?
long-run equilibrium regardless of the speed of Linux's demand-side learning persists if there are cost asymmetries. We find that because OSS implies lower profits for Microsoft, the larger the cost differences are between Linux and...
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- 12 Jun 2006
- Research & Ideas
The Promise of Channel Stewardship
day-to-day, tactical flavor. It may even end up doing a heroic job of achieving sales targets in a changing environment without making a dent in the channel structure. The problem is that even when an industry reaches a new equilibrium as...
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- 20 Feb 2008
- First Look
First Look: February 20, 2008
workers by posting vacancies. Firms act monopsonistically and set wages to retain their existing workers as well as to attract new ones. The model differs from Burdett and Mortensen (1998) in that its assumptions ensure that there is an View Details
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Martha Lagace
- 21 Aug 2018
- First Look
New Research and Ideas, August 21, 2018
can affect the set of stable equilibrium outcomes. Consequently, agents may be incentivized to modify the set of contracts upfront. We consider one simple way in which agents may do so: unilateral bundling, in which a single agent links...
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Dina Gerdeman
- 21 Jun 2011
- First Look
First Look: June 21
intermediate, respectively. However, for larger quality provision costs, firms exploit both dimensions to differentiate their products. In particular, we characterize a maximal differentiation equilibrium in which one firm chooses the...
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Sean Silverthorne
- 02 Feb 2010
- First Look
First Look: Feb. 2
calibrate these arguments to assess their quantitative importance. We use a dynamic equilibrium model with tax distortion, government outlays uncertainty, and contingent-debt service. Our framework also recognizes that contingent debt can...
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Martha Lagace
- 04 Jan 2012
- First Look
First Look: January 4
may be positive and is strictly lower than 1. We also investigate the possibility of platforms investing in "educating" unsophisticated users. In a competitive environment, such education is a public good among platforms and therefore the View Details
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Carmen Nobel
- 10 Mar 2009
- First Look
First Look: March 10, 2009
Wages and Unemployment in a Matching Model with Monopsony Author: Julio J. Rotemberg Publication: Supplement. Journal of Monetary Economics 55 (October 2008): 97-110 Abstract A monopsony model with a symmetric equilibrium is developed...
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Martha Lagace
- 20 Nov 2012
- First Look
First Look: November 20
number that maximizes joint utility); (ii) an equilibrium selection problem (consumption complementarities often lead to multiple equilibria, which result in different utility levels for the users); and (iii) a coordination problem...
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Sean Silverthorne
- 16 Apr 2013
- First Look
First Look: April 16
(and demand for redistribution) even if luck plays no role. In other words, there is multiplicity even if the equilibrium tax rate is independent of the signal-to-noise ratio (a quantity that expresses how important effort is, relative to...
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Sean Silverthorne
- 15 Dec 2015
- First Look
December 15, 2015
https://www.hbs.edu/faculty/Pages/item.aspx?num=50187 Capital Requirements, Risk Choice, and Liquidity Provision in a Business Cycle Model By: Begenau, Juliane Abstract—This paper develops a quantitative dynamic general equilibrium model...
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Carmen Nobel
- 17 Jan 2012
- First Look
First Look: January 17
determine the equilibrium supply chain structure. These operational tradeoffs arise as a result of the geographic constraints posed by the availability of arable land and the spatial population distribution. We model the interdependent...
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Sean Silverthorne
- 05 Aug 2008
- First Look
First Look: August 5, 2008
upgrade sales to an installed base. When profits from the installed base are sufficiently large, a pure strategy equilibrium exists with two B firms active in the market. Although there is competition in the complement market, the...
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Martha Lagace