Publications

May 2024
Article

Production Complementarity and Information Transmission Across Industries

By: Charles M.C. Lee, Terrence Tianshuo Shi, Stephen Teng Sun and Ran Zhang

Economic theory suggests that production complementarity is an important driver of sectoral co-movements and business cycle fluctuations. We operationalize this concept using a measure of production complementarity proximity (COMPL) between any two companies. We show... View Details

Keywords: Financial Markets; Networks; Investment Return; Business Cycles

Article

The Stock Selection and Performance of Buy-Side Analysts

By: Boris Groysberg, Paul M. Healy, Georgios Serafeim, Devin Shanthikumar and Gui Yang

We examine the selection and performance of stocks recommended by analysts at a large investment firm relative to those of sell-side analysts during the period mid-1997 and 2004. The buy-side firm's analysts issued less optimistic recommendations for stocks with larger... View Details

Keywords: Buy-side Analysts; Sell-side Analysts; Stock Recommendations; Recommendation Optimism; Recommendation Performance; Investment Recommendations; Conflicts Of Interest; Financial Markets; Financial Institutions; Stocks; Financial Services Industry; United States

2016
Chapter

User-Generated Content and Social Media

By: Michael Luca

This paper documents what economists have learned about user-generated content (UGC) and social media. A growing body of evidence suggests that UGC on platforms ranging from Yelp to Facebook has a large causal impact on economic and social outcomes ranging from... View Details

Keywords: User-generated Content; Crowdsourcing; Design Economics; Internet and the Web; Marketing; Economics; Media; Social Media

2011
Book

Do More Than Give: The Six Practices of Donors Who Change the World

By: Leslie Crutchfield, John Kania and Mark R. Kramer

Do More Than Give provides a blueprint for individuals, philanthropists, and foundation leaders to increase their impact. Based on Forces for Good, this groundbreaking book demonstrates how the six practices of high-impact nonprofits apply to donors... View Details

Keywords: Management Practices and Processes; Philanthropy and Charitable Giving

Purchase

20 Nov 2018
First Look

New Research and Ideas, November 20, 2018

results also show that firms not only mimic peers in similar circumstances, but they also mimic their more and/or less successful peer firms. These within-group and bidirectional View Details

Keywords: Dina Gerdeman

December 2014
Article

No Margin, No Mission? A Field Experiment on Incentives for Public Services Delivery

By: Nava Ashraf, Oriana Bandiera and B. Kelsey Jack

A substantial body of research investigates the effect of pay for performance in firms, yet less is known about the effect of non-financial rewards, especially in organizations that hire individuals to perform tasks with positive social spillovers. We conduct a field... View Details

Keywords: Incentives; Non-monetary Rewards; Intrinsic Motivation; Motivation and Incentives; Employees; Service Industry; Health Industry

February 2023
Article

Homophily and Acrophily as Drivers of Political Segregation

By: Amit Goldenberg, Joseph M. Abruzzo, Zi Huang, Jonas Schone, David Bailey, Robb Willer, Eran Halperin and James J. Gross

Political segregation is an important social problem, increasing polarization and impeding effective governance. Previous work has viewed the central driver of segregation to be political homophily, the tendency to associate with others who have similar views. Here we... View Details

Keywords: Political Affiliation; Extremism; Values and Beliefs; Identity; Groups and Teams; Emotions; Civil Society or Community

2014
Other Unpublished Work

No Margin, No Mission? A Field Experiment on Incentives for Public Services Delivery

By: Nava Ashraf, Oriana Bandiera and Kelsey Jack

Keywords: Incentives; Non-monetary Rewards; Intrinsic Motivation; Mission and Purpose; Social Enterprise; Motivation and Incentives

2018
Chapter

Behavioral Household Finance

By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian

This chapter provides an overview of household finance. The first part summarizes key facts regarding household financial behavior, emphasizing empirical regularities that are inconsistent with the standard classical economic model and discussing extensions of the... View Details

Keywords: Personal Finance; Global Range; Household; Behavior; Strategy; Governing Rules, Regulations, and Reforms; Product Design; Welfare

2011
Other Unpublished Work

Lords of the Harvest: Third-Party Signaling and Regulatory Approval of Genetically Modified Organisms

By: Shon R. Hiatt and Sangchan Park

Little is known about the factors that influence regulatory agencies' decision making. We posit that regulatory agencies are influenced by the firms they regulate, but not exclusively via political influence as is argued in the traditional regulatory-capture... View Details

Keywords: Genetics; Decision Choices and Conditions; Reputation; Agribusiness; Power and Influence; Agriculture and Agribusiness Industry; United States

Forthcoming
Article

Proximate (Co-)Working: Knowledge Spillovers and Social Interactions

By: Maria P. Roche, Alexander Oettl and Christian Catalini

We examine the influence of physical proximity on between-start-up knowledge spillovers at one of the largest technology coworking hubs in the United States. Relying on the exogenous assignment of office space to the hub’s 251 start-ups, we find that proximity... View Details

Keywords: Knowledge Integration; Coworking; Microgeography; Business Startups; Technology Adoption; Diversity; Interpersonal Communication; Knowledge Sharing; Geographic Location

28 Aug 2018
First Look

New Research and Ideas, August 28, 2018

provided some employees with accurate information about the salaries of others. First, we document large misperceptions about salaries and identify some of their sources. Second, we find that perceived peer and manager salaries have a... View Details

Keywords: Dina Gerdeman

22 Jan 2013
First Look

First Look: Jan. 22

Additionally, wearing a heavy backpack affected participants' behavior. Specifically, it led them to be more likely to choose healthy snacks over guilt-inducing ones and boring tasks over fun ones. It also led participants to cheat less. Importantly, self-reported... View Details

Keywords: Sean Silverthorne

28 Mar 2016
Research & Ideas

What's a Boss Worth?

exploration. “There is a growing literature in the social sciences about the importance of peer effects—many people think about how to form teams and what the right team should look like,” says Stanton. But according to this data, the... View Details

Keywords: by Michael Blanding; Service

2015
Working Paper

Expertise vs. Bias in Evaluation: Evidence from the NIH

By: Danielle Li

Evaluators with expertise in a particular field may have an informational advantage in separating good projects from bad. At the same time, they may also have personal preferences that impact their objectivity. This paper develops a framework for separately identifying... View Details

Keywords: Prejudice and Bias; Performance Evaluation; Experience and Expertise