Publications

Article

Best Practices for Differentiated Products Demand Estimation with PyBLP

Differentiated products demand systems are a workhorse for understanding the price effects of mergers, the value of new goods, and the contribution of products to seller networks. Berry, Levinsohn, and Pakes (1995) provide a flexible random coefficients logit model... View Details

June 14, 2023
Article

Research: Your Love for Work May Alienate Your Colleagues

By: Mijeong Kwon, Julia Lee Cunningham and Jon M. Jachimowicz

Research shows that employees who are passionate about their work are more productive, innovative, and collaborative. New research suggests that these employees also see passion for work as a moral imperative, and they’re more likely to judge colleagues who are... View Details

Keywords: Employees; Motivation and Incentives

2022
Working Paper

Consumer Demand with Social Influences: Evidence from an E-Commerce Platform

By: El Hadi Caoui, Chiara Farronato, John J. Horton and Robert Schultz

For some kinds of goods, rarity itself is valued. "Fashionable'" goods are demanded in part because they are unique. In this paper, we explore the economics of rare goods using auctions of limited-edition shoes held by an e-commerce platform. We model endogenous entry... View Details

Keywords: Rare Goods; Scarcity; E-commerce; Consumer Behavior; Auctions

2018
Working Paper

Corporate Refinancing, Covenants, and the Agency Cost of Debt

By: Daniel Green

How valuable are restrictive debt covenants in reducing the agency costs of debt? I exploit the revealed preference decision to refinance fixed-coupon bonds, which weighs observable interest rate savings against the unobservable costs of a change in restrictive... View Details

Keywords: Covenants; Refinancing; Corporate Bonds; Agency Costs; Debt Policy; Borrowing and Debt; Bonds; Interest Rates

2018
Working Paper

Diagnostic Bubbles

By: Pedro Bordalo, Nicola Gennaioli, Spencer Yongwook Kwon and Andrei Shleifer

We introduce diagnostic expectations into a standard setting of price formation in which investors learn about the fundamental value of an asset and trade it. We study the interaction of diagnostic expectations with two well-known mechanisms: learning from prices and... View Details

Keywords: Bubbles; Price Bubble; Mathematical Methods

2014
Teaching Note

Yonyou 2013 (TN)

By: F. Warren McFarlan, Zheng Xiaoming and Ziqian Zhao

The case describes how a leading Chinese management software provider Yonyou (formerly known as "UFIDA") disrupted its value chain-based business model to transform itself into a platform provider. The case describes Yonyou's past success, the market forces and... View Details

Keywords: Business Models; ERP; Platforms; Strategy; Transformations; China; Information Technology; China

November 2014
Case

Ardian—The Sale of Diana

By: Paul A. Gompers and Michael Roberts

The case focuses on a European private equity firm—Ardian—and the process it uses to sell one of its portfolio companies, and the decisions around that sale. Key issues include the choice of an auction or acceptance of a pre-emptive bid, and the role of the portfolio... View Details

Keywords: Spin-out; Exit; Sale; Private Equity; France

April 2005 (Revised November 2008)
Case

Banco Real: Banking on Sustainability

By: Rosabeth M. Kanter and Ricardo Reisen de Pinho

ABN AMRO REAL made corporate social responsibility central to its brand, adding to customer focus and reflecting its values. Leaders developed the Bank of Value theme and implemented it through activities such as microfinance in poor communities, environmentally... View Details

Keywords: Brands and Branding; Corporate Social Responsibility and Impact; Competitive Strategy; Competitive Advantage

June 2004 (Revised May 2005)
Case

World Vision International's AIDS Initiative: Challenging a Global Partnership

By: Christopher A. Bartlett and Daniel F. Curran

After 25 years of building a network of interdependent, national organizations delivering relief and development that are responsive to local needs, World Vision's International office is planning to implement a major global HIV/AIDS initiative that challenges the... View Details

Keywords: Change Management; Decision Choices and Conditions; Globalized Markets and Industries; Governing and Advisory Boards; Management Systems; Networks; Partners and Partnerships; Welfare; Adaptation

30 Jul 2009
News

Chatter about a new global currency is overblown

19 May 2010
News

D. Alfred N. & Lynn Manos Page Prize for Sustainability Issues in Business Curricula

16 Oct 2019
News

Where ESG Fails

20 Jan 2016
News

Engaging the Business Community in Collective Impact

Why You Aren’t Getting More from Your Marketing AI - HBR

Fewer than 40% of companies that invest in AI see gains from it, usually because of one or more of these errors: (1) They don’t ask the right question, and end up directing AI to solve the wrong problem. (2) They don’t recognize the... View Details

Article

Friends or Foes? Examining Platform Owners' Entry into Complementors' Spaces

By: Feng Zhu

As platform owners continue to expand their ecosystems, many of them have started to provide consumers with their own complementary applications. These moves position the platform owners as direct competitors to their complementors. This paper surveys empirical studies... View Details

Keywords: Platform; Complementors; Digital Platforms; Market Entry and Exit; Competition

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