Publications

2024
Working Paper

Dusting Off the Old Ones: Drug Licensing to Startups, Innovation Success and Efficiency

By: Mosab Hammoudeh, Joshua Lev Krieger and Jiajie Xu

This paper investigates whether moving R&D from incumbents to startups can increase innovation. Using comprehensive drug development data, we examine the outcomes of drug projects licensed from large firms to startups. We find that these projects licensed to startups... View Details

Keywords: Product Development; Innovation and Invention; Business Startups; Research and Development; Performance Efficiency; Pharmaceutical Industry

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January 2017
Case

Kada Orthopedics: A Bone of Contention

By: Kevin Schulman and Matt Strickland

Kada Orthopedics is a small implantable orthopedic device manufacturer founded by industry veterans trying to sell stable-technology products to an increasingly cost-conscious healthcare market. Although they have marginally successful product in early 2016, the... View Details

Keywords: Market Design; Growth And Development Strategy; Health Care; Business Startup; Growth and Development; Health Care and Treatment; Medical Specialties; Business Startups; Supply and Industry; Medical Devices and Supplies Industry; United States

July 2009 (Revised March 2010)
Case

Sotheby's & Christie's Inc.

By: Ramon Casadesus-Masanell and Catherine Jane Wise

The fine art auction business has remained a duopoly over its 250 year history. The industry is dominated by Sotheby's and Christie's Inc. Curiously, neither competitor has been able to overtake the other by a notable margin despite the clear network effects of this... View Details

Keywords: Arts; Business Model; Restructuring; Economics; Auctions; Market Entry and Exit; Duopoly and Oligopoly; Operations; Competition

10 Jan 2011
Research & Ideas

Is Groupon Good for Retailers?

higher cost of goods sold, giving them less room to discount. And if they don't sell a product one day, they can hold it in inventory for future sale. So marginal business is less urgent for them. We're not prepared to say Gap's Groupon... View Details

Keywords: by Carmen Nobel; Advertising; Technology

2020
Working Paper

Sticky Capital Controls

By: Miguel Acosta-Henao, Laura Alfaro and Andres Fernandez

There is much ongoing debate on the merits of capital controls as effective policy instruments. The differing perspectives are due in part to a lack of empirical studies that look at the intensive margin of controls, which in turn has prevented a quantitative... View Details

Keywords: Capital Controls; Macroprudential Policies; Stickiness; Intensive; (S, S) Costs; Capital; Management; Macroeconomics

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May 2020
Teaching Note

Shiseido: Reinvesting in Brand

By: Jill Avery

Teaching Note for HBS Case No. 519-026. Shiseido was in the midst of a six year corporate turnaround, trying to reverse the effects of decades of under-investment in R&D and marketing that had led to a vicious cycle of declining customer support and brand value. Would... View Details

Keywords: Brand Management; Marketing ROI; Brand Portfolio Strategy; Growth Strategy; Marketing; Marketing Strategy; Brands and Branding; Growth and Development Strategy; Beauty and Cosmetics Industry; Consumer Products Industry; Japan; Asia

November 1998
Case

Wegmans Food Markets: Diabetes Counseling

By: Ray A. Goldberg, David E. Bell and Ann Leamon

Danny Wegman, president of Wegmans Food Markets, is trying to decide how to evaluate the success of a nutrition-counseling program for diabetics, and whether and how to expand the program beyond the two stores currently involved. Wegmans, with 57 stores and $2.3... View Details

Keywords: Performance Evaluation; Expansion; Programs; Human Needs; Financial Management; Health Care and Treatment; Nutrition; Consumer Behavior; Pharmaceutical Industry; Food and Beverage Industry

2009
Working Paper

Strategic Interactions in Two-Sided Market Oligopolies

By: Emmanuel Farhi and Andrei Hagiu

Strategic interactions between two-sided platforms depend not only on whether their decision variables are strategic complements or substitutes as for one-sided firms, but also -and crucially so- on whether or not the platforms subsidize one side of the market in... View Details

Keywords: Two-Sided Markets; Strategic Complements; Strategic Substitutes; Cost; Investment; Profit; One-Sided Platforms; Two-Sided Platforms; Duopoly and Oligopoly; Competitive Advantage

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December 1988
Article

Strategic Responses to Automobile Emissions Control: A Game-Theoretic Analysis

By: Dennis Yao

This paper examines the dynamics of standard-setting regulation under technological uncertainty and asymmetric information about technological capability. A two-period model which allows fully strategic action is developed and applied to the regulation of automobile... View Details

Keywords: Transportation; Pollutants; Standards; Governance Controls; Technological Innovation; Research and Development; Mathematical Methods

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December 2020
Article

Stock Market Returns and Consumption

By: Marco Di Maggio, Amir Kermani and Kaveh Majlesi

This paper employs Swedish data containing security level information on households' stock holdings to investigate how consumption responds to changes in stock market returns. We exploit households’ portfolio weights in previous years as an instrument for actual... View Details

Keywords: Capital Gain; Dividend Income; Consumption; Near-rational Behavior; Investment Return; Household; Spending; Behavior

SSRN

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19 Aug 2009
Working Paper Summaries

Optimal Taxation in Theory and Practice

Keywords: by N. Gregory Mankiw, Matthew Weinzierl & Danny Yagan

Research Summary

Foreclosure with Incomplete Information

In this paper we investigate the robustness of the widely-used new foreclosure doctrine and its associated welfare implications to the introduction of incomplete information. In particular, we make the realistic assumption that the upstream firm’s marginal cost... View Details

March 2008 (Revised April 2008)
Case

Corning: 156 Years of Innovation

By: H. Kent Bowen and Courtney Purrington

The executive team at Corning has committed to double the rate of new business creation per decade, while at the same time growing the company's current businesses, including glass substrates for LCD displays. Their strategy, built on more than 150 years of successful... View Details

Keywords: Innovation Leadership; Resource Allocation; Product Development; Research and Development; Science-Based Business; Industrial Products Industry

September 2022
Article

Energy Innovation Funding and Institutions in Major Economies

By: Jonas Meckling, Clara Galeazzi, Esther Shears, Tong Xu and Laura Diaz Anadon

Accelerating energy innovation for decarbonization hinges on public investment in research, development and demonstration (RD&D). Here we examine the evolution and variation of public energy RD&D funding and institutions and associated drivers across eight major... View Details

Keywords: Research and Development; Innovation and Invention; Energy Policy; Government Legislation; Energy Sources

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August 1999 (Revised October 1999)
Case

RCA Records: The Digital Revolution

By: Jeffrey F. Rayport, Carin-Isabel Knoop and Cate Reavis

In 1995, Bertelsmann-owned RCA Records was considered a "tired and old" record label. By 1999, the company represented a number of the "hottest" acts in the music industry. Nevertheless, the company's position (as well as that of the entire music industry) was under... View Details

Keywords: Brands and Branding; Business Model; Competition; Corporate Strategy; Internet and the Web; Change Management; Marketing Strategy; Music Industry; Entertainment and Recreation Industry; United States

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September 2018
Case

ProdEng: Services for Oil & Gas Extraction

By: Frank V. Cespedes, Maria Fernanda Miguel and Mariana Cal

ProdEng is a venture created as part of a PE fund and provides oil field services in Argentina. In 2016, an industry-wide unforeseen oil and gas demand slump drove ProdEng’s average service rates down by more than 37%, with EBITDA margins falling from 50% to 24% in the... View Details

Keywords: Pricing; Entrepreneurship; Sales; Marketing; Price; Strategy; Latin America; Argentina