Publications

25 Oct 2018
News

This big factor is at the heart of political protests all over Middle East

Article

Treatment Of Opioid Use Disorder Among Commercially Insured U.S. Adults, 2008–17

By: Karen Shen, Eric Barrette and Leemore S. Dafny

There is abundant literature on efforts to reduce opioid prescriptions and misuse, but comparatively little on the treatment provided to people with opioid use disorder (OUD). Using claims data representing 12–15 million nonelderly adults covered through commercial... View Details

Keywords: Opioid Treatment; Medication-assisted Treatment; Substance Use Disorder; Private Insurance; Health Disorders; Health Care and Treatment; Insurance; United States

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19 Apr 2017
News

Chicago Becomes a Hub of Startup Action

position as “capital of the heartland” (making it a magnet for graduates of the Midwest’s top universities), its relatively low cost of living... View Details

Keywords: Julia Hanna; Emmanuel

March 2001
Background Note

Valuing the Option Component of Debt and Its Relevance to DCF-Based Valuation Methods

The flows-to-equity or equity cash flows valuation method is a discounted cash flow method used to estimate the equity portion of the capital structure. It is closely related to the venture capital/buyout valuation method, which estimates the IRR of the stream of cash... View Details

Keywords: Cash Flow; Valuation; Equity

Educators

Purchase

October 2015
Article

Managing the Performance Tradeoffs from Partner Integration: Implications of Contract Choice in R&D Projects

By: Alan MacCormack and Anant Mishra

Formal contracts represent an important governance instrument with which firms exercise control of and compensate partners in R&D projects. The specific type of contract used, however, can vary significantly across projects. In some, firms govern partnering... View Details

Keywords: ＂＂Partner Integration; Contract Choice; R＆D Project Management; Relational Contracts; Partnering Performance; Research and Development; Projects; Partners and Partnerships; Performance; Contracts

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2024
Working Paper

Operational Impact of Communication Channels: Evidence from Last-Mile Delivery Services

By: Natalie Epstein, Santiago Gallino and Antonio Moreno

Communication channels are often used to improve customer satisfaction and behavior. This paper studies how they can be used to enhance operational performance.
We partner with a last-mile delivery company and, through natural and field experiments, explore... View Details

Keywords: Customer Satisfaction; Consumer Behavior; Logistics; Communication

2019
Working Paper

Design Rules, Volume 2: How Technology Shapes Organizations: Chapter 13 Platform Systems vs. Step Processes—The Value of Options and the Power of Modularity

By: Carliss Y. Baldwin

This is the first chapter in Part 3. Its purpose is to contrast the value structure of platform systems with step processes from a technological perspective. I first review the basic technical architecture of computers and argue that every computer is inherently a... View Details

Keywords: Platform Systems; Step Processes; Computer Architecture; Modularity; Information Technology; Digital Platforms

2019
Article

An Empirical Study of Rich Subgroup Fairness for Machine Learning

By: Michael J Kearns, Seth Neel, Aaron Leon Roth and Zhiwei Steven Wu

Kearns et al. [2018] recently proposed a notion of rich subgroup fairness intended to bridge the gap between statistical and individual notions of fairness. Rich subgroup fairness picks a statistical fairness constraint (say, equalizing false positive rates across... View Details

Keywords: Machine Learning; Fairness; AI and Machine Learning

01 Jun 2006
News

Profiles from the Class of 2006

not as giving back but as ‘giving in turn.’ Volunteering keeps me balanced and rooted in the real world.” Of her immediate future, Brown says, “I am interested in providing capital and resources to... View Details

Keywords: Garry Emmons;Margie Kelley;Lewis I. Rice;Roger Thompson; Colleges, Universities, and Professional Schools; Educational Services

2025
Working Paper

Climate Risk and the U.S. Insurance Gap: Measurement, Drivers and Implications

By: Parinitha Sastry, Tess Scharlemann, Ishita Sen and Ana-Maria Tenekedjieva

In a world with rising risk, how much are U.S. households willing to pay for homeowners insurance, and what does their demand imply for the future of insurance markets? We provide the first estimates of household willingness to pay for homeowners insurance and the... View Details

Keywords: Climate Change; Risk and Uncertainty; Insurance; Personal Finance; Consumer Behavior; Mortgages

Web

Geography of Care - Institute For Strategy And Competitiveness

Measure Outcomes & Cost for Every Patient Aligning Reimbursement with Value Systems Integration Geography of Care Information Technology Geography of Care Geography View Details

18 Oct 2004
Research & Ideas

The Bias of Wall Street Analysts

brokerages are working on repairing the tarnished image of the sell-side analyst profession while at the same time reconfiguring the economics of that function. Up until brokerage commissions were... View Details

Keywords: by Ann Cullen; Financial Services

September–October 2013
Article

The Role of Organizational Scope and Governance in Strengthening Private Monitoring

By: Lamar Pierce and Michael W. Toffel

Governments and other organizations often outsource activities to achieve cost savings from market competition. Yet such benefits are often accompanied by poor quality resulting from moral hazard, which can be particularly onerous when outsourcing the monitoring and... View Details

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2013
Working Paper

The Dirty Laundry of Employee Award Programs: Evidence from the Field

By: Timothy Gubler, Ian I. Larkin and Lamar Pierce

Many scholars and practitioners have recently argued that corporate awards are a "free" way to motivate employees. We use field data from an attendance award program implemented at one of five industrial laundry plants to show that awards can carry significant... View Details

Keywords: Motivation and Incentives; Service Delivery; Performance Productivity; Failure; Service Industry

2015
Chapter

Firms and the Economics of Skilled Immigration

By: Sari Pekkala Kerr, William R. Kerr and William F. Lincoln

Firms play a central role in the selection, sponsorship, and employment of skilled immigrants entering the United States for work through programs like the H-1B visa. This role has not been widely recognized in the literature, and the data to better understand it have... View Details

Keywords: Business or Company Management; Human Capital; Immigration; Innovation and Invention; United States

Research Summary

The Evolution of Corporate Structure, Internal Governance, and Leadership

My research documents the evolution of the internal governance of senior management in large US firms over a 20-year period and explores, via multiple methods, the causes and consequences of these changes. My findings suggest that... View Details

2019
Working Paper

Do Banks Have an Edge?

By: Juliane Begenau and Erik Stafford

Overall, no! We show that the level and time series variation in cash flows for most bank activities are well matched by capital market portfolios with similar interest rate and credit risk to what banks report to hold. Ignoring operating expenses, bank loans earn high... View Details

Keywords: Banks; Market Efficiency; Bank Capital; Bank Debt; CAPM; Banking; Bank Deposits; Bank Funding Advantage; Leverage; Maturity Transformation; Replicating Portfolio; Efficiency; Banks and Banking; Capital Markets; Performance Evaluation; Performance Efficiency; Banking Industry; United States

April 2002 (Revised February 2003)
Module Note

Teaching Project Finance: An Overview of the Large-Scale Investment Course

By: Benjamin C. Esty

Large-Scale Investment is a case-based course about project finance for second-year MBA students. Project finance involves the creation of a legally independent project company financed with nonrecourse debt for the purpose of investing in a single-purpose industrial... View Details

Keywords: Projects; Financing and Loans