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  • September 2021
  • Article

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: Bubble; Speculation; Diagnostic Expectations; Price Bubble; Mathematical Methods
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  • 2022
  • Working Paper

Overreaction and Diagnostic Expectations in Macroeconomics

By: Pedro Bordalo, Nicola Gennaioli and Andrei Shleifer
We present the case for the centrality of overreaction in expectations for addressing important challenges in finance and macroeconomics. First, non-rational expectations by market participants can be measured and modeled in ways that address some of the key challenges... View Details
Keywords: Overreaction; Rational Expectations; Macroeconomics; Market Participation; Social Psychology
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  • February 2018
  • Article

Diagnostic Expectations and Credit Cycles

By: Pedro Bordalo, Nicola Gennaioli and Andrei Shleifer
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  • 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
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  • 2013
  • Working Paper

Helping You Help Me: The Role of Diagnostic (In)congruence in the Helping Process within Organizations

By: Colin M. Fisher, Julianna Pillemer and Teresa M. Amabile
Through an inductive, multi-method field study at a major design firm, we investigated the helping process in project work and how that process affects the success of a helping episode, as perceived by help-givers and/or -receivers. We used daily diary entries and... View Details
Keywords: Groups and Teams; Knowledge Management; Performance; Cooperation
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  • Research Summary

Equity Valuation

By: Charles C.Y. Wang

Professor Wang’s research utilizes valuation theory to explain how firm fundamentals are related to the expected rates of equity returns and their term structures. His research provides strong evidence that valuation-based proxies of expected returns outperform the... View Details

  • 2021
  • Working Paper

Real Credit Cycles

By: Pedro Bordalo, Nicola Gennaioli, Andrei Shleifer and Stephen J. Terry
We incorporate diagnostic expectations, a psychologically founded model of overreaction to news, into a workhorse business cycle model with heterogeneous firms and risky debt. A realistic degree of diagnosticity, estimated from the forecast errors of managers of U.S.... View Details
Keywords: Econometric Models; Business Cycles; Credit
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  • December 2011
  • Case

Bergerac Systems: The Challenge of Backward Integration

By: David A. Garvin and Sunru Yong
Bergerac Systems is a small, rapidly growing manufacturer of diagnostic instruments used in veterinary practices. The company introduced the OmniVue chemistry analyzer, which enables veterinarians to run a wide range of blood and blood chemistry tests on their animal... View Details
Keywords: Financial Analysis; Manufacturing Strategy; Strategy; Production; Supply Chain Management; Vertical Integration; Performance Capacity; Financial Strategy; Medical Devices and Supplies Industry
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  • February 2015
  • Case

Beckman Coulter, 2011

By: John R. Wells and Galen Danskin
In early 2011, Danaher was contemplating the acquisition of Beckman Coulter. With $3.7 billion of revenues in 2010 and $431 million in operating profits, California-based Beckman Coulter was a global leader in blood cell count diagnostic systems and also supplied a... View Details
Keywords: Acquisition; Strategy; Decision Choices and Conditions; Medical Devices and Supplies Industry
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  • 07 Feb 2012
  • First Look

First Look: February 7

and how quoted prices might reflect expectations that are hard to justify. Regardless of which valuation method is employed (e.g., residual income, discounted cash flow, multiples), the case provides a platform (i) to map the firm's key... View Details
Keywords: Sean Silverthorne
  • January 2009
  • Case

When Supply is of Public Interest: Roche & Tamiflu

The case focuses on the challenges of Roche maintaining a supply network for a global influenza pandemic response initiative based on its antiviral drug Tamiflu. The Roche group is a 40 billion CHF company consisting of a pharmaceutical division and a diagnostic... View Details
Keywords: Global Strategy; Health Pandemics; Distribution; Logistics; Production; Supply Chain Management; Performance Capacity; Pharmaceutical Industry
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  • 21 May 2007
  • Research & Ideas

Fixing the Marketing-CEO Disconnect

the emergence of the CMO position, one might expect that oversight of marketing would be efficiently consolidated. However, marketing decision making has been increasingly pushed down through the corporate hierarchy. While CEOs have... View Details
Keywords: by Sean Silverthorne
  • Web

Behavioral Finance & Financial Stability

Andrei Shleifer SEP 2021 The financial crisis of 2007–2008 has revived academic interest in price bubbles. The authors introduce diagnostic expectations into a standard setting of price formation in which... View Details
  • Web

Research - Behavioral Finance & Financial Stability

expectations into a standard setting of price formation in which investors learn about the fundamental value of an asset and trade it. They study the interaction of diagnostic View Details
  • 20 Dec 2017
  • Lessons from the Classroom

How to Design a Better Customer Experience

into consideration the intense emotions of parents and children. So Dietz and his team embarked on a patient-centered redesign by attempting to view the diagnostic procedure through the eyes of a child. The result: Adventure Series... View Details
Keywords: by Dina Gerdeman; Health; Entertainment & Recreation
  • Web

Strategy Execution Online Course | HBS Online

conserving scarce time and attention. Highlights The Benefits of Diagnostic Control Systems Putting the Three Wheels Back Together - Three Wheels of Profit Planning Schematic A Multidimensional Approach to Measurement Harnessing Human... View Details
  • 07 May 2020
  • Research & Ideas

The One Good Thing Caused by COVID-19: Innovation

distancing. New patterns of consumer and worker behavior and expectations have emerged during the first weeks of the crisis. COVID-19 represents a tremendous economic shock and burden. In recent weeks, the focus has begun to shift towards... View Details
Keywords: by Hong Luo and Alberto Galasso
  • 24 Apr 2014
  • News

Fighting the diabetes epidemic using mobile phones

Through Jana Care, a start-up he cofounded in Bangalore, India, Sidhant Jena (SPH 2011, MBA 2011) is building affordable diagnostics and evidence-based lifestyle coaching programs on mobile phones to make diabetes management cheaper,... View Details
  • 28 May 2019
  • News

Leading Questions

lesson she learned from Professor Boris Groysberg in an HBS classroom: “The most important leadership skills in the future aren’t going to be analytical or diagnostic skills. The thing that will make the most difference is the skill of... View Details
Keywords: April White
  • Web

Negotiation and Diplomacy - Course Catalog

cases in national and global contexts, the course will develop diagnostic and prescriptive characteristics of effective negotiation and diplomacy as tools of political, military, economic, environmental and financial statecraft. The... View Details