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- 2018
- Working Paper
Full Substitutability
By: John William Hatfield, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky and Alexander Westkamp
Various forms of substitutability are essential for establishing the existence of equilibria and other useful properties in diverse settings such as matching, auctions, and exchange economies with indivisible goods. We extend earlier models’ definitions of... View Details
Hatfield, John William, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky, and Alexander Westkamp. "Full Substitutability." Harvard Business School Working Paper, No. 19-016.
- November 2019
- Article
Full Substitutability
By: John William Hatfield, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky and Alexander Westkamp
Various forms of substitutability are essential for establishing the existence of equilibria and other useful properties in diverse settings such as matching, auctions, and exchange economies with indivisible goods. We extend earlier models’ definitions of... View Details
Hatfield, John William, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky, and Alexander Westkamp. "Full Substitutability." Theoretical Economics 14, no. 4 (November 2019): 1535–1590.
- 2015
- Working Paper
Full Substitutability
By: John William Hatfield, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky and Alexander Westkamp
Various forms of substitutability are essential for establishing the existence of
equilibria and other useful properties in diverse settings such as matching, auctions,
and exchange economies with indivisible goods. We extend earlier models' canonical
definitions of... View Details
Hatfield, John William, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky, and Alexander Westkamp. "Full Substitutability." Working Paper, May 2015.
- Article
Matching in Networks with Bilateral Contracts: Corrigendum
By: John William Hatfield, Ravi Jagadeesan and Scott Duke Kominers
Hatfield and Kominers (2012) introduced a model of matching in networks with bilateral contracts and showed that stable outcomes exist in supply chains when firms' preferences over contracts are fully substitutable. Hatfield and Kominers (2012) also asserted that in... View Details
Hatfield, John William, Ravi Jagadeesan, and Scott Duke Kominers. "Matching in Networks with Bilateral Contracts: Corrigendum." American Economic Journal: Microeconomics 12, no. 3 (August 2020): 277–285.
- January 2021
- Article
Chain Stability in Trading Networks
By: John William Hatfield, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky and Alexander Westkamp
We show that in general trading networks with bilateral contracts, a suitably adapted chain stability concept (Ostrovsky, 2008) is equivalent to stability (Hatfield and Kominers, 2012; Hatfield et al., 2013) if all agents' preferences are fully substitutable and... View Details
Keywords: Matching; Trading Networks; Chain Stability; Stability; Competitive Equilibria; Full Substitutability; Laws Of Aggregate Supply And Demand; Contracts; Market Design; Balance and Stability
Hatfield, John William, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky, and Alexander Westkamp. "Chain Stability in Trading Networks." Theoretical Economics 16, no. 1 (January 2021): 197–234.
- Article
Stability and Competitive Equilibrium in Trading Networks
By: John William Hatfield, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky and Alexander Westkamp
We introduce a model in which agents in a network can trade via bilateral contracts. We find that when continuous transfers are allowed and utilities are quasi-linear, the full substitutability of preferences is sufficient to guarantee the existence of stable outcomes... View Details
Hatfield, John William, Scott Duke Kominers, Alexandru Nichifor, Michael Ostrovsky, and Alexander Westkamp. "Stability and Competitive Equilibrium in Trading Networks." Journal of Political Economy 121, no. 5 (October 2013): 966–1001.
- 03 Mar 2008
- Research & Ideas
Marketing Your Way Through a Recession
advertisements by shifting from 30-second to 15-second advertisements, substituting radio for television advertising, or increasing the use of direct marketing, which gives more immediate sales impact. 4. Adjust product portfolios.... View Details
Keywords: by John Quelch
- 03 Oct 2023
- Research Event
Build the Life You Want: Arthur Brooks and Oprah Winfrey Share Happiness Tips
learned from her depression after a movie she worked on “bombed;” and how to be not necessarily happy all the time, but happier. Here's a transcript of the full conversation. Jeffrey Goldberg: Please join me in welcoming to the stage... View Details
Keywords: by HBS Staff
- 11 Aug 2009
- First Look
First Look: August 11, 2009
more or fewer decision-making responsibilities to managers. By simultaneously addressing the choice of both competitive actions and organizational design, the paper makes an attempt at bringing economic theory and management strategy closer together. An increase in... View Details
Keywords: Martha Lagace
- 24 Jan 2005
- Research & Ideas
Rethinking Activity-Based Costing
directly estimate the practical capacity of the resources supplied as a percentage of the theoretical capacity. There are various ways to do this. As a rule of thumb, you could simply assume that practical full capacity is 80 percent to... View Details
Keywords: by Robert S. Kaplan & Steven R. Anderson
- 23 Apr 2024
- In Practice
Getting to Net Zero: The Climate Standards and Ecosystem the World Needs Now
With each month clocking record-breaking temperatures across the planet, this Earth Day reflected the renewed urgency of regulators and businesses to find climate-change solutions. The US Securities and Exchange Commission recently adopted new rules that will mandate... View Details
Keywords: by Rachel Layne
- 01 Dec 2006
- What Do You Think?
How Important Is Quality of Labor? And How Is It Achieved?
is to assume that quality of labor is genetic ." Flavius Chircu said, "I would simplify the analysis by substituting 'quality of labor' with 'quality of output,' be that output a product, service, or mix thereof." In Sneh... View Details
Keywords: by by Jim Heskett
- 11 Apr 2022
- Research & Ideas
A World of Difference: What Keeps Companies from Becoming More Inclusive
substitute that judgment with curiosity, and wonder why someone might think differently about an issue, that is when we learn. So we can start building inclusion by making people realize that their worldview is not necessarily the right... View Details
Keywords: by Jen McFarland Flint
- 13 Jan 2021
- Research & Ideas
How 'Small C' Change Can Beat Large-Scale Rebuilding
German Soccer League over a season. Our research results show that leaders can reinvigorate a failing business using team members already in charge, and without large-scale change of direction. We observed that Small C retooling can unlock the View Details
- 23 Jun 2008
- Research & Ideas
Innovative Ways to Encourage Personal Savings
this work was published in the Harvard Business Review. My colleagues and I looked at a full range of financial services that were—and were not—available in South Central and communities like it, including payment services, savings,... View Details
- 11 Sep 2018
- First Look
New Research and Ideas, September 11, 2018
explains changing bond risks but only when risk premia change endogenously as predicted by the model. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=45672 Full Substitutability By:... View Details
Keywords: Dina Gerdeman
- 01 Oct 2001
- What Do You Think?
Will Information Technology Really Turn Organizations Upside Down This Time?
really happens when organizations employ the concept. Now we learn that the Army is experimenting with satellite-driven information technology that enables a tank commander to have a full view of the battlefield, including the positions... View Details
Keywords: by James Heskett
- 24 Sep 2014
- Op-Ed
Stop Thinking of Climate Change as a Religious or Political Issue
You sometimes hear people say things like, "I believe in global warming" or "I don't believe in climate change." It seems odd to approach climate change in this way, as though it were a question of belief, like religion. Most of the time when we confront uncertainty in... View Details
- 04 May 2007
- What Do You Think?
How Do Managers Think?
suggested that " doctors rush when the illness is serious managers, when faced with little time and pressure to get things done, fail to think well and so make poor decisions." Itamar Offer, a physician, said that "information is always partial in both... View Details
Keywords: by Jim Heskett
- 01 Oct 2009
- What Do You Think?
Can the “Masks of Command” Coexist with Authentic Leadership?
"When a leader builds a mask around him/her you close yourself from learning." Joe Schmid had no doubt, saying, "I'll simpl(ify) the question substituting 'two faced' for 'mask.' Can a two faced leader be 'authentic'?... View Details
Keywords: by Jim Heskett