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(2,835)
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- Faculty Publications (1,384)
Show Results For
- All HBS Web
(2,835)
- News (448)
- Research (2,173)
- Events (39)
- Multimedia (14)
- Faculty Publications (1,384)
- 29 Aug 2013
- Working Paper Summaries
X-CAPM: An Extrapolative Capital Asset Pricing Model
- April 2024
- Article
Demand-and-Supply Imbalance Risk and Long-Term Swap Spreads
By: Samuel G. Hanson, Aytek Malkhozov and Gyuri Venter
We develop and test a model in which swap spreads are determined by end users' demand for
and constrained intermediaries’ supply of long-term interest rate swaps. Swap spreads reflect
compensation both for using scarce intermediary capital and for bearing convergence... View Details
Keywords: Swap Spreads; Credit Derivatives and Swaps; Interest Rates; Risk and Uncertainty; Volatility
Hanson, Samuel G., Aytek Malkhozov, and Gyuri Venter. "Demand-and-Supply Imbalance Risk and Long-Term Swap Spreads." Art. 103814. Journal of Financial Economics 154 (April 2024).
- April 2024
- Article
Decision Authority and the Returns to Algorithms
By: Hyunjin Kim, Edward L. Glaeser, Andrew Hillis, Scott Duke Kominers and Michael Luca
We evaluate a pilot in an Inspections Department to explore the returns to a pair of algorithms that varied in their sophistication. We find that both algorithms provided substantial prediction gains, suggesting that even simple data may be helpful. However, these... View Details
Keywords: Algorithmic Aversion; Algorithmic Decision Making; Algorithms; Public Entrepreneurship; Govenment; Local Government; Crowdsourcing; Crowdsourcing Contests; Inspection; Principal-agent Theory; Government Administration; Decision Making; Public Administration Industry; United States
Kim, Hyunjin, Edward L. Glaeser, Andrew Hillis, Scott Duke Kominers, and Michael Luca. "Decision Authority and the Returns to Algorithms." Strategic Management Journal 45, no. 4 (April 2024): 619–648.
- Working Paper
The Composition and Dynamics of Technology-Enabled Entrepreneurship
By: Innessa Colaiacovo, Daniel P. Gross and Jorge Guzman
Using data on nearly all U.S. business registrations since the turn of the twentieth century, and a set of 386 major technologies invented over this period, we study the level, composition, and dynamics of entrepreneurial activity around new technology. We find a... View Details
Colaiacovo, Innessa, Daniel P. Gross, and Jorge Guzman. "The Composition and Dynamics of Technology-Enabled Entrepreneurship." SSRN Working Paper Series, No. 4383445, March 2023. (Revise and Resubmit: Strategic Management Journal.)
- 2014
- Article
Bond Supply and Excess Bond Returns
By: Robin Greenwood and Dimitri Vayanos
We examine empirically how the maturity structure of government debt affects bond yields and excess returns. Our analysis is based on a theoretical model of preferred habitat in which clienteles with strong preferences for specific maturities trade with arbitrageurs.... View Details
Greenwood, Robin, and Dimitri Vayanos. "Bond Supply and Excess Bond Returns." Review of Financial Studies 27, no. 3 (March 2014): 663–713. (Also earlier version NBER Working Paper Series, No. 13806, February 2008.)
- 2010
- Working Paper
Substitution Patterns of the Random Coefficients Logit
By: Thomas J. Steenburgh and Andrew Ainslie
Previous research suggests that the random coefficients logit is a highly flexible model that overcomes the problems of the homogeneous logit by allowing for differences in tastes across individuals. The purpose of this paper is to show that this is not true. We prove... View Details
Steenburgh, Thomas J., and Andrew Ainslie. "Substitution Patterns of the Random Coefficients Logit." Harvard Business School Working Paper, No. 10-053, January 2010.
- Research Summary
Biological Basis of Economic Behavior
Terry Burnham's research focuses on understanding human behavior, and economic behavior in particular, in the context of humans as evolved animals.
This research aims to reconcile two competing views within economics. The mainstream economic view is that economic... View Details
- 2021
- Working Paper
Property Rights and Urban Form
By: Simeon Djankov, Edward L. Glaeser, Valeria Perotti and Andrei Shleifer
How do the different elements in the standard bundle of property rights, including those of possession and transfer, influence the shape of cities? This paper incorporates insecure property rights into a standard model of urban land prices and density, and makes... View Details
Djankov, Simeon, Edward L. Glaeser, Valeria Perotti, and Andrei Shleifer. "Property Rights and Urban Form." NBER Working Paper Series, No. 28793, May 2021.
- 2012
- Article
Behavioral Economics and the Psychology of Fruit and Vegetable Consumption
By: Joe Price and Jason Riis
Behavioral economics is an emerging paradigm that challenges the assumptions and predictions of classical economics. This new paradigm emphasizes that consumers do not always make optimal use of available information nor do they always make choices and tradeoffs in a... View Details
Keywords: Plant-Based Agribusiness; Food; Social Marketing; Decision Choices and Conditions; Consumer Behavior; Nutrition
Price, Joe, and Jason Riis. "Behavioral Economics and the Psychology of Fruit and Vegetable Consumption." Journal of Food Studies 1, no. 1 (2012): 1–13.
- 2010
- Working Paper
Agglomerative Forces and Cluster Shapes
By: William R. Kerr and Scott Duke Kominers
We model spatial clusters of similar firms. Our model highlights how agglomerative forces lead to localized, individual connections among firms, while interaction costs generate a defined distance over which attraction forces operate. Overlapping firm interactions... View Details
Keywords: Entrepreneurship; Geographic Location; Patents; Labor; Industry Clusters; Industry Structures; Relationships; Competitive Advantage; Technology Industry; California
Kerr, William R., and Scott Duke Kominers. "Agglomerative Forces and Cluster Shapes." Harvard Business School Working Paper, No. 11-061, December 2010.
Derek C. M. van Bever
Derek van Bever is a Senior Lecturer in the General Management Unit of Harvard Business School. He teaches courses in both years of the MBA program (“Leadership and Corporate Accountability” in the first-year required curriculum and “Building and Sustaining a... View Details
- October 2016
- Article
Technical Debt and System Architecture: The Impact of Coupling on Defect-related Activity
By: Alan MacCormack and Daniel J. Sturtevant
Technical debt is created when design decisions that are expedient in the short-term increase the costs of maintaining and adapting this system in future. An important component of technical debt relates to decisions about system architecture. As systems grow and... View Details
Keywords: Information Infrastructure; Performance Efficiency; Applications and Software; Infrastructure
MacCormack, Alan, and Daniel J. Sturtevant. "Technical Debt and System Architecture: The Impact of Coupling on Defect-related Activity." Journal of Systems and Software 120 (October 2016): 170–182. (Received 31 May 2015. Revised 28 May 2016. Accepted 4 June 2016.)
- October 11, 2016
- Article
Innovation Network
By: Daron Acemoglu, Ufuk Akcigit and William R. Kerr
Technological progress builds upon itself, with the expansion of invention in one domain propelling future work in linked fields. Our analysis uses 1.8 million U.S. patents and their citation properties to map the innovation network and its strength. Past innovation... View Details
Acemoglu, Daron, Ufuk Akcigit, and William R. Kerr. "Innovation Network." Proceedings of the National Academy of Sciences 113, no. 41 (October 11, 2016).
- October 2007 (Revised February 2008)
- Module Note
Evaluating M&A Deals: Introduction to the Deal NPV
Introduces a framework for evaluating mergers and acquisitions. Assumes that the criterion of a good deal is that it creates value for shareholders; i.e., has a positive deal NPV. Looks at the deal NPV from both the buyer's and seller's point of view. Explains how a... View Details
Baldwin, Carliss Y. "Evaluating M&A Deals: Introduction to the Deal NPV." Harvard Business School Module Note 208-060, October 2007. (Revised February 2008.)
- 12 PM – 1 PM EST, 05 Mar 2015
- Webinars: Trending@HBS
The Power of Noticing
This program focuses on the journey needed for leaders to become first-class noticers. The power of noticing is deeply rooted in the rapidly evolving field of behavioral decision research, now popularized through such acclaimed books as Nudge and Thinking, Fast and... View Details
- May 2020
- Article
Tackling Climate Change Requires Organizational Purpose
By: Rebecca Henderson and George Serafeim
Unchecked climate change presents a profound threat to economic growth and political stability but despite widespread public concern about the issue, global emissions of greenhouse gases have not declined. Indeed current “business as usual” predictions imply that... View Details
Keywords: Corporate Purpose; Purpose; Sustainability; Environment; Climate Change; Organizations; Mission and Purpose; Environmental Sustainability; Strategy; Leadership
Henderson, Rebecca, and George Serafeim. "Tackling Climate Change Requires Organizational Purpose." AEA Papers and Proceedings 110 (May 2020): 177–180.
- November 2012
- Article
An Age Penalty in Racial Preferences
By: Deborah A. Small, Devin G. Pope and Michael I. Norton
We document an age penalty in racial discrimination: charitable behavior toward African American children decreases-and negative stereotypical inferences increase-with the age of those children. Using data from an online charity that solicits donations for school... View Details
Keywords: Stereotyping; Charitable Giving; Prejudice; Prosocial Behavior; Philanthropy and Charitable Giving; Age; Race; Prejudice and Bias
Small, Deborah A., Devin G. Pope, and Michael I. Norton. "An Age Penalty in Racial Preferences." Social Psychological & Personality Science 3, no. 6 (November 2012): 730–737.
- June 2010
- Article
A Gap-Filling Theory of Corporate Debt Maturity Choice
By: Robin Greenwood, Samuel G. Hanson and Jeremy C. Stein
We argue that time-series variation in the maturity of aggregate corporate debt issues arises because firms behave as macro liquidity providers, absorbing the large supply shocks associated with changes in the maturity structure of government debt. We document that... View Details
Keywords: Business Ventures; Decision Choices and Conditions; Borrowing and Debt; Financial Liquidity; Investment Return; Government and Politics
Greenwood, Robin, Samuel G. Hanson, and Jeremy C. Stein. "A Gap-Filling Theory of Corporate Debt Maturity Choice." Journal of Finance 65, no. 3 (June 2010): 993–1028. (Supplementary results in Internet Appendix.)
- 2004
- Working Paper
Thinking About Technology: Applying a Cognitive Lens to Technical Change
We apply a cognitive lens to understanding technology trajectories across the life cycle by developing a coevolutionary model of technological frames and technology. Applying that model to each stage of the technology life cycle, we identify conditions under which a... View Details
Kaplan, Sarah, and Mary Tripsas. "Thinking About Technology: Applying a Cognitive Lens to Technical Change." Harvard Business School Working Paper, No. 04-039, January 2004. (Revised September 2006, August 2007, April 2008.)