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  • 2022
  • Working Paper

Heterogeneity of Gain-Loss Attitudes and Expectations-Based Reference Points

By: Pol Campos-Mercade, Lorenz Goette, Thomas Graeber, Alex Kellogg and Charles Sprenger
Existing tests of reference-dependent preferences assume universal loss aversion. This paper examines heterogeneity in gain-loss attitudes, and explores its implications for identifying models of the reference point. In two experimental settings we measure gain-loss... View Details
Keywords: Reference-dependent Preferences; Rational Expectations; Personal Equilibrium; Endowment Effect; Expectations-based Reference Points
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  • October 2003
  • Article

Capture by Threat

By: Ernesto Dal Bo and Rafael Di Tella
We analyze a simple stochastic environment in which policy makers can be threatened by “nasty” interest groups. In the absence of these groups, the policy maker’s desire for reelection guarantees that good policies are implemented for every realization of the shock.... View Details
Keywords: Political Parties; Politicians; Nash Equilibrium; Political Elections
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  • 2008
  • Working Paper

Attitude-Dependent Altruism, Turnout and Voting

By: Julio J. Rotemberg
This paper presents a goal-oriented model of political participation based on two psychological assumptions. The first is that people are more altruistic towards individuals that agree with them and the second is that people's well-being rises when other people share... View Details
Keywords: Voting; Political Elections; Market Participation; Attitudes
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  • 02 Jun 2022
  • Research & Ideas

Blissful Thinking: When It Comes to Finding Happiness, 'Your Dreams Are Liars'

human involvement and human contact. People are saying, “It’s just a job.” So if it’s just a job, I might as well go get another job. But when it’s your friends who are working there, it’s not just a job. When you’re rewarded by somebody who knows you as a View Details
Keywords: by Dan Morrell
  • 2008
  • Other Unpublished Work

Punctuated Identities and the Careers of Professional Women

This paper proposes a punctuated equilibrium model of identity change to explain how professional women's career goals and attitudes can change rapidly and dramatically during mid-career years. Data collected from interviews of 43 women alumni of an elite business... View Details
Keywords: Work-Life Balance; Decision Choices and Conditions; Identity; Personal Development and Career; Gender
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  • Article

The Wisdom of Competitive Crowds

By: Kenneth C. Lichtendahl, Yael Grushka-Cockayne and Phillip E. Pfeifer
When several individuals are asked to forecast an uncertain quantity, they often face implicit or explicit incentives to be the most accurate. Despite the desire to elicit honest forecasts, such competition induces forecasters to report strategically and nontruthfully.... View Details
Keywords: Forecast; Forecasting and Prediction
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  • 2016
  • Article

Organizational Decision-Making and Information: Angel Investments by Venture Capital Partners

By: Andy Wu
We study information aggregation in organizational decision-making for the financing of entrepreneurial ventures. We introduce a formal model of voting where agents face costly tacit information to improve their decision quality. Equilibrium outcomes suggest a... View Details
Keywords: Entrepreneurial Finance; Angel Investors; Organization Design; Voting; Group Decision-making; Information; Strategy; Organizations; Entrepreneurship; Decision Making; Financing and Loans
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  • 27 Apr 2012
  • Working Paper Summaries

Putting Integrity into Finance: A Purely Positive Approach

Keywords: by Werner Erhard & Michael C. Jensen
  • 2020
  • Working Paper

Arbitration with Uninformed Consumers

By: Mark Egan, Gregor Matvos and Amit Seru
This paper studies the impact of the arbitrator selection process on consumer outcomes by examining roughly 9,000 consumer arbitration cases in the securities industry. Securities disputes present a good laboratory: arbitration is mandatory for all disputes,... View Details
Keywords: Arbitration; Financial Advisers; Financial Advisors; Brokers; Consumer Finance; Financial Misconduct; Fraud; Personal Finance; Conflict and Resolution; Information; Fairness
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  • 16 Jan 2018
  • First Look

First Look at New Research and Ideas, January 16, 2018

"Convergence Matters," and "Context, Conditions, and Culture." Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=53726 January–February 2018 Harvard Business Review Ads That Don't Overstep: How to Make Sure You Don't Take View Details
Keywords: Sean Silverthorne
  • 21 Apr 2015
  • First Look

First Look: April 21

reality is driven by a fundamental failure in consumer inferences when sellers withhold information. Using a series of laboratory experiments, we implement a simple disclosure game in which senders can verifiably report quality to receivers. We find that senders... View Details
Keywords: Carmen Nobel & Sean Silverthorne
  • 23 Apr 2013
  • First Look

First Look: April 23

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
  • 08 Aug 2006
  • First Look

First Look: August 8, 2006

recency) but are more cautious (positive recency). Paper not available Learning and Equilibrium As Useful Approximations: Accuracy of Prediction on Randomly Selected Constant Sum Games Author:Ido Erev, Alvin E. Roth, Robert L. Slonim, and... View Details
Keywords: Sean Silverthorne
  • 25 Jul 2017
  • First Look

First Look at New Research and Ideas: July 25, 2017

that an individual casts may deviate substantially from that under pure, rational QV equilibrium play. Because turnout itself is driven by other factors, the same determinants may influence how voters who do turn out choose the quantity... View Details
Keywords: Carmen Nobel
  • 06 Jun 2011
  • Research & Ideas

Why Leaders Lose Their Way

rustling around inside their heads. Meanwhile, their work lives and personal lives get out of balance. They lose touch with those closest to them their spouses, children, and best friends—or co-opt them with their points of view.... View Details
Keywords: by Bill George
  • 01 Dec 2015
  • First Look

December 1, 2015

provide experimental 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... View Details
Keywords: Sean Silverthorne
  • 17 Jul 2018
  • First Look

New Research and Ideas, July 17, 2018

in tastes. Our framework allows us to characterize matching equilibrium in a flexible way that includes as special cases the classic fully- and non-transferable utility models, collective models, and settings with taxes on transfers,... View Details
Keywords: Dina Gerdeman
  • 03 Nov 2015
  • First Look

November 3, 2015

Danielle Abstract—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... View Details
Keywords: Sean Silverthorne
  • 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... View Details
Keywords: Sean Silverthorne
  • 06 Sep 2016
  • First Look

September 6, 2016

between portfolio choice and return realizations. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=51573 In Press Journal of Personality and Social Psychology Risky Business: When Humor Increases and Decreases Status By:... View Details
Keywords: Carmen Nobel

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