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Publications
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- Faculty Publications (314)
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- 2010
- Chapter
The Peculiar Politics of American Disaster Policy: How Television Has Changed Federal Relief
By: David Moss
Particularly since the 1960s, the federal government has played a significant role in financing disaster losses in the United States. The federal government may thus be thought of as providing an implicit form of public disaster insurance. However, unlike many... View Details
- December 2009 (Revised February 2010)
- Case
The Investment Fund for Foundations (TIFF) in 2009
By: Luis M. Viceira and Brendon Christopher Parry
In late June 2009, management at The Investment Fund for Foundations (TIFF) was considering expanding the footprint of the TIFF Diversified Fund (TDF), the first truly comprehensive endowment management vehicle offered under the TIFF banner. The recent large capital... View Details
- December 2009
- Article
Strategy-proofness versus Efficiency in Matching with Indifferences: Redesigning the NYC High School Match
By: Atila Abdulkadiroglu, Parag A. Pathak and Alvin E. Roth
The design of the New York City (NYC) High School match involved tradeoffs among efficiency, stability, and strategy-proofness that raise new theoretical questions. We analyze a model with indifferences—ties—in school preferences. Simulations with field data and the... View Details
- September 2009
- Article
Are You Having Trouble Keeping Your Operations Focused?
As a business broadens over time, it can lose the operational edge that led to its original success. Core strengths atrophy, efficiency or quality suffers, and sharper rivals close in to take advantage of the loss of focus. In his classic article "The Focused Factory"... View Details
- 2009
- Working Paper
Systemic Risk and the Refinancing Ratchet Effect
By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton
The confluence of three trends in the U.S. residential housing market—rising home prices, declining interest rates, and near-frictionless refinancing opportunities—led to vastly increased systemic risk in the financial system. Individually, each of these trends is... View Details
- 2009
- Working Paper
Systemic Risk and the Refinancing Ratchet Effect
By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton
The confluence of three trends in the U.S. residential housing market-rising home prices, declining interest rates, and near-frictionless refinancing opportunities-led to vastly increased systemic risk in the financial system. Individually, each of these trends is... View Details
- 2009
- Working Paper
Input Constraints and the Efficiency of Entry: Lessons from Cardiac Surgery
By: David M. Cutler, Robert S. Huckman and Jonathan T. Kolstad
Prior studies suggest that, with elastically supplied inputs, free entry may lead to an inefficiently high number of firms in equilibrium. Under input scarcity, however, the welfare loss from free entry is reduced. Further, free entry may increase use of high-quality... View Details
- 2009
- Working Paper
Input Constraints and the Efficiency of Entry: Lessons from Cardiac Surgery
By: David M. Cutler, Robert S. Huckman and Jonathan T. Kolstad
Prior studies suggest that, with elastically supplied inputs, free entry may lead to an inefficiently high number of firms in equilibrium. Under input scarcity, however, the welfare loss from free entry is reduced. Further, free entry may increase use of high-quality... View Details
- 2009
- Chapter
Government as Risk Manager
By: Tom Baker and David Moss
We explain the four basic ways to manage risk: prevention, risk shifting, risk spreading, and loss control. We set out five principles of effective government risk management gleaned from extensive historical study: (1) link responsibility and control, (2) manage moral... View Details
- June 2009 (Revised November 2020)
- Case
Busse Place
By: Arthur I Segel, William J. Poorvu, Richard Kessler, Justin Seth Ginsburgh and Eric Fleiss
Busse Corporate Center's largest tenant recently declared bankruptcy, leaving the building 38% occupied and significantly overleveraged. In a depressed suburban Chicago office market, Hannah Sanchez, the leasing agent, has to negotiate lease proposals with three... View Details
- 2009
- Working Paper
Policy Bundling to Overcome Loss Aversion: A Method for Improving Legislative Outcomes
By: Katherine L Milkman, Mary Carol Mazza, Lisa L. Shu, Chia-Jung Tsay and Max H. Bazerman
Policies that would create net benefits for society but would also involve costs frequently lack the necessary support to be enacted because losses loom larger than gains psychologically. To reduce this harmful consequence of loss aversion, we propose a new type of... View Details
- May 2009 (Revised June 2009)
- Case
Areva
By: V.G. Narayanan and Lisa Brem
Areva, the world's market leader in civilian nuclear power, was positioned to take advantage of the resurgence of nuclear power. However, three issues clouded the positive outlook: (1) a 1.7 billion euro loss on the construction of the first next generation nuclear... View Details
- April 2009 (Revised June 2020)
- Case
Al Capone
By: Tom Nicholas and David Chen
In 1929, Chicago, IL mob boss Al Capone was at the height of his power. As head of the extensive crime organization known as "The Outfit" during most of U.S.'s Prohibition Era (1920-1933), Capone oversaw hundreds of brothels, speakeasies, and roadhouses which served as... View Details
- March 2009 (Revised July 2010)
- Case
State Street Corporation
To maximize their effectiveness, color cases should be printed in color. State Street Corp. reports a 13% gain in EPS in 2008 amidst a global financial crisis. The stock price declines 59% on the day of the earnings report. This one day decline was exceeded in the... View Details
- March 2009 (Revised November 2016)
- Case
Washington Mutual's Covered Bonds
By: Daniel Baird Bergstresser, Robin Greenwood and James Quinn
Washington Mutual issued 6 billion euro of covered bonds in 2006. The objective of the case is to ask whether these bonds are mispriced in late 2008. The case is set in September 2008, and Washington Mutual is facing considerable distress due to mounting losses in its... View Details
Keywords: Capital Markets; Financial Liquidity; Bonds; Mortgages; Price; Banking Industry; United States
- March 2009
- Article
Loyalty-Based Portfolio Choice
By: Lauren Cohen
I evaluate the effect of loyalty on individuals' portfolio choice using a unique dataset of retirement contributions. I exploit the statutory difference that in 401(k) plans stand alone employees can invest directly in their division, while conglomerate employees must... View Details
- March 2009 (Revised November 2009)
- Supplement
Washington Mutual's Covered Bonds Courseware
By: Daniel Baird Bergstresser, Robin Greenwood and James Quinn
Washington Mutual issues 6 billion Euro of covered bonds in 2006. The objective of the case is to ask whether these bonds are mispriced in late 2008. The case is set in September 20008, and Washington Mutual is facing considerable distress due to mounting losses on its... View Details
- January 2009
- Journal Article
The Fiscal Impact of High-skilled Emigration: Flows of Indians to the U.S.
By: Mihir Desai, D. Kapur, J. McHale and K Rogers
Easing immigration restrictions for the highly skilled in developed countries portends a future of increased human capital outflows from developing countries. The myriad consequences of these developments for developing countries include the direct loss of the fiscal... View Details
- December 2008
- Case
JBS Swift & Co.
By: David E. Bell and Cathy Ross
Brazilian meat packer JBS surprised many in the U.S. beef industry when it acquired Swift & Co.—a company more than five times its size—in 2007, then moved to acquire the U.S.'s fourth and fifth largest beef producers in 2008. The new JBS Swift slashed costs and... View Details
- November 2008 (Revised January 2010)
- Case
Stone Finch, Inc.: Young Division, Old Division
By: Richard G. Hamermesh and Elizabeth Collins
CEO Jim Billings wants to attract energetic, entrepreneurial talent to Stone Finch, Inc., which comprises an older division that fabricates products like piping and tanks for water and wastewater processing plants, and a much newer division that develops biochemical... View Details
Keywords: Organizational Behavior; Human Resource Management; Motivation; Business Growth; Motivation and Incentives; Leadership; Business Subsidiaries; Innovation Strategy; Resource Allocation; Organizational Structure; Organizational Culture; Retention; Operations; Recruitment; Integration; Business Growth and Maturation; Mergers and Acquisitions; Growth and Development Strategy; Manufacturing Industry