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Show Results For
- All HBS Web
(2,187)
- People (1)
- News (437)
- Research (1,502)
- Events (49)
- Multimedia (13)
- Faculty Publications (934)
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- 2024
- Working Paper
Open Devices and Slices: Evidence from Wi-Fi Equipment
By: Do Yoon Kim, Roberto Fontana and Shane Greenstein
Prior studies suggest that openness shapes the introduction of new products. This study
collects novel data on all routers and subcomponents introduced between 2000 and 2018. We
characterize each firm's position in a supply chain as upstream component providers... View Details
Kim, Do Yoon, Roberto Fontana, and Shane Greenstein. "Open Devices and Slices: Evidence from Wi-Fi Equipment." Harvard Business School Working Paper, No. 24-045, January 2024.
- 2023
- Working Paper
Crowding in Private Quality: The Equilibrium Effects of Public Spending in Education
By: Tahir Andrabi, Natalie Bau, Jishnu Das, Asim Ijaz Khwaja and Naureen Karachiwalla
We estimate the equilibrium effects of a public-school grant program administered through school councils in Pakistani villages with multiple public and private schools and clearly defined catchment boundaries. The program was randomized at the village-level, allowing... View Details
Andrabi, Tahir, Natalie Bau, Jishnu Das, Asim Ijaz Khwaja, and Naureen Karachiwalla. "Crowding in Private Quality: The Equilibrium Effects of Public Spending in Education." NBER Working Paper Series, No. 30929, February 2023.
- 2023
- Article
Experimental Evaluation of Individualized Treatment Rules
By: Kosuke Imai and Michael Lingzhi Li
The increasing availability of individual-level data has led to numerous applications of individualized (or personalized) treatment rules (ITRs). Policy makers often wish to empirically evaluate ITRs and compare their relative performance before implementing them in a... View Details
Keywords: Causal Inference; Heterogeneous Treatment Effects; Precision Medicine; Uplift Modeling; Analytics and Data Science; AI and Machine Learning
Imai, Kosuke, and Michael Lingzhi Li. "Experimental Evaluation of Individualized Treatment Rules." Journal of the American Statistical Association 118, no. 541 (2023): 242–256.
- September 2016
- Article
Value Based Care and Bundled Payments: Anesthesia Care Costs for Outpatient Oncology Surgery Using Time-driven Activity-based Costing
By: Katy E. French, Alexis B. Guzman, Augustin C. Rubio, John C. Frenzel and Thomas Feeley
Background:
With the movement towards bundled payments, stakeholders should know the true cost of the care they deliver. Time-driven activity-based costing (TDABC) can be used to estimate costs for each episode of care. In this analysis, TDABC is used to both... View Details
French, Katy E., Alexis B. Guzman, Augustin C. Rubio, John C. Frenzel, and Thomas Feeley. "Value Based Care and Bundled Payments: Anesthesia Care Costs for Outpatient Oncology Surgery Using Time-driven Activity-based Costing." Healthcare: The Journal of Delivery Science and Innovation 4, no. 3 (September 2016): 173–180.
- 2024
- Article
Effects of a Real-Time Information-Based Intervention on Physician Prescribing Behavior
By: Olivia Zhao and Anna D Sinaiko
High out-of-pocket (OOP) prices for prescription drugs create financial difficulties for patients, and cost-related underuse of medications can adversely patient health. Simultaneously, many physicians report a willingness to address affordability concerns with... View Details
Keywords: Price; Health Care and Treatment; Communication Technology; Technology Adoption; Customer Focus and Relationships; Health Industry
Zhao, Olivia, and Anna D Sinaiko. "Effects of a Real-Time Information-Based Intervention on Physician Prescribing Behavior." Academy of Management Best Paper Proceedings 2024, no. 1 (2024).
- May 2025
- Article
The Effects of Medical Debt Relief: Evidence from Two Randomized Experiments
By: Raymond Kluender, Neale Mahoney, Francis Wong and Wesley Yin
Two in five Americans have medical debt, nearly half of whom owe at least $2,500. Concerned by this burden, governments and private donors have undertaken large, high-profile efforts to relieve medical debt. We partnered with RIP Medical Debt (now Undue Medical Debt)... View Details
Kluender, Raymond, Neale Mahoney, Francis Wong, and Wesley Yin. "The Effects of Medical Debt Relief: Evidence from Two Randomized Experiments." Quarterly Journal of Economics 140, no. 2 (May 2025): 1187–1241.
- October 2017
- Article
The Size of the LGBT Population and the Magnitude of Anti-Gay Sentiment Are Substantially Underestimated
By: Katherine Baldiga Coffman, Lucas C. Coffman and Keith M. Marzilli Ericson
We demonstrate that widely used measures of anti-gay sentiment and the size of the LGBT population are misestimated, likely substantially. In a series of online experiments using a large and diverse but non-representative sample, we compare estimates from the standard... View Details
Keywords: LGBTQ; Social Trends ＆ Culture; Economic Theory; Prejudice; Prejudice and Bias; Diversity; Economics; Demographics
Coffman, Katherine Baldiga, Lucas C. Coffman, and Keith M. Marzilli Ericson. "The Size of the LGBT Population and the Magnitude of Anti-Gay Sentiment Are Substantially Underestimated." Management Science 63, no. 10 (October 2017): 3168–3186.
- 2018
- Working Paper
Survival of the Fittest: The Impact of the Minimum Wage on Firm Exit
By: Dara Lee Luca and Michael Luca
We study the impact of the minimum wage on firm exit in the restaurant industry, exploiting recent changes in the minimum wage at the city level. We find that the impact of the minimum wage depends on whether a restaurant was already close to the margin of exit.... View Details
Luca, Dara Lee, and Michael Luca. "Survival of the Fittest: The Impact of the Minimum Wage on Firm Exit." Harvard Business School Working Paper, No. 17-088, April 2017. (Revised August 2018.)
- 30 Jan 2018
- Working Paper Summaries
Credit Supply Shocks, Network Effects, and the Real Economy
- Research Summary
Fixed NAVs and Costly Puts: US Money Market Mutual Funds (with Peter Tufano)
US money market mutual fund investors have been granted an implicit put option that allows them to sell or redeem their shares at a fixed price of $1.00, regardless of the market value of the portfolio. We describe the institutional features that give rise... View Details
- 2025
- Working Paper
Fiscal Externalities of Transaction Taxes: Evidence from the Los Angeles Mansion Tax
By: Daniel Green, Vikram Jambulapati, Jack Liebersohn and Tejaswi Velayudhan
We estimate the fiscal externalities of a property transfer tax, the Los Angeles
“Mansion Tax”, on the revenues from property taxes when assessed values are closely
tied to transactions. In California, as in over half of U.S. states, growth in tax as-
sessments... View Details
Green, Daniel, Vikram Jambulapati, Jack Liebersohn, and Tejaswi Velayudhan. "Fiscal Externalities of Transaction Taxes: Evidence from the Los Angeles Mansion Tax." SSRN Working Paper Series, No. 5273034, June 2025.
- Working Paper
Index Rebalancing and Stock Market Composition: Do Indexes Time the Market?
By: Marco Sammon and John J. Shim
Value-weighted indexes must rebalance in response to stock market composition changes, e.g., issuance, buybacks, and IPOs. In doing so, existing index funds implicitly engage in market timing. Index funds’ long-short rebalancing portfolios have a -3.5% annual return... View Details
Sammon, Marco, and John J. Shim. "Index Rebalancing and Stock Market Composition: Do Indexes Time the Market?" SSRN Working Paper Series, No. 5080459, May 2025.
- February 2025 (Revised March 2025)
- Case
Accounting for Bitcoin at Block
By: Charles C.Y. Wang, Seil Kim and Sa-Pyung Sean Shin
Abstract: This case explores Block Inc.'s accounting practices for Bitcoin transactions and their impact on financial reporting. Following a 10% stock price drop after missing revenue estimates in Q3 2024, Block faced scrutiny over its Bitcoin-driven revenue model.... View Details
- 2023
- Working Paper
Market Exclusivity and Innovation: Evidence From Antibiotics
By: Edward Kong and Olivia Zhao
The US incentivizes drug innovation via patents as well as market exclusivity periods awarded by the US Food and Drug Administration. We estimate the causal effects of extending market exclusivity for an important drug class: antibiotics. Using a... View Details
Keywords: Health Testing and Trials; Innovation and Invention; Motivation and Incentives; Government Administration; Government Legislation; Pharmaceutical Industry; United States
Kong, Edward, and Olivia Zhao. "Market Exclusivity and Innovation: Evidence From Antibiotics." Working Paper, December 2023.
- November 2022
- Article
The Psychosocial Value of Employment: Evidence from a Refugee Camp
By: Reshmaan Hussam, Erin M. Kelley, Gregory Lane and Fatima Zahra
Employment may be important to wellbeing for reasons beyond its role as an income source. This paper presents a causal estimate of the psychosocial value of employment in refugee camps in Bangladesh. We involve 745 individuals in a field experiment with three arms: a... View Details
Hussam, Reshmaan, Erin M. Kelley, Gregory Lane, and Fatima Zahra. "The Psychosocial Value of Employment: Evidence from a Refugee Camp." American Economic Review 112, no. 11 (November 2022): 3694–3724.
- March 2021
- Article
International Trade and Social Connectedness
By: Michael Bailey, Abhinav Gupta, Sebastian Hillenbrand, Theresa Kuchler, Robert J. Richmond and Johannes Stroebel
We use de-identified data from Facebook to construct a new and publicly available measure of the pairwise social connectedness between 170 countries and 332 European regions. We find that two countries trade more when they are more socially connected, especially for... View Details
Bailey, Michael, Abhinav Gupta, Sebastian Hillenbrand, Theresa Kuchler, Robert J. Richmond, and Johannes Stroebel. "International Trade and Social Connectedness." Journal of International Economics 129 (March 2021).
- 2021
- Working Paper
Diagnosing Quality: Learning, Amenities, and the Demand for Health Care
By: Achyuta Adhvaryu, Emilio Gutierrez, Anant Nyshadham and Jorge Tamayo
We study the role of amenities in increasing demand for underutilized healthcare services. We evaluate the offer of a high-amenity diagnostic consultation for cataracts with a randomized price and find that a lower price for the high-amenity consultation increases... View Details
Keywords: Health Care Demand; Amenities; Health Care Quality; Cataracts; Surgery; Health Care and Treatment; Demand and Consumers; Quality; Learning; Mexico
Adhvaryu, Achyuta, Emilio Gutierrez, Anant Nyshadham, and Jorge Tamayo. "Diagnosing Quality: Learning, Amenities, and the Demand for Health Care." Harvard Business School Working Paper, No. 21-110, March 2021.
- August 2020
- Article
Macroeconomic Drivers of Bond and Equity Risks
By: John Y. Campbell, Carolin E. Pflueger and Luis M. Viceira
Our new model of consumption-based habit generates time-varying risk premia on bonds and stocks from loglinear, homoskedastic macroeconomic dynamics. Consumers' first-order condition for the real risk-free bond generates an exactly loglinear consumption Euler equation,... View Details
Keywords: Consumption-based Habit Formation; Consumption Euler Equation; Time-varying Risk Premia; Inflation Dynamics; Bond-stock Correlation; Risk and Uncertainty; Bonds; Macroeconomics
Campbell, John Y., Carolin E. Pflueger, and Luis M. Viceira. "Macroeconomic Drivers of Bond and Equity Risks." Journal of Political Economy 128, no. 8 (August 2020): 3148–3185.
- April 2020
- Article
CEO Behavior and Firm Performance
By: Oriana Bandiera, Stephen Hansen, Andrea Prat and Raffaella Sadun
We measure the behavior of 1,114 CEOs in six countries parsing granular CEO diary data through an unsupervised machine learning algorithm. The algorithm uncovers two distinct behavioral types: "leaders" and "managers." Leaders focus on multi-function, high-level... View Details
Bandiera, Oriana, Stephen Hansen, Andrea Prat, and Raffaella Sadun. "CEO Behavior and Firm Performance." Journal of Political Economy 128, no. 4 (April 2020): 1325–1369.
- Article
A Field Experiment on Search Costs and the Formation of Scientific Collaborations
By: Kevin Boudreau, Tom Brady, Ina Ganguli, Patrick Gaule, Eva C. Guinan, Anthony Hollenberg and Karim R. Lakhani
We present the results of a field experiment conducted at Harvard Medical School to understand the extent to which search costs affect matching among scientific collaborators. We generated exogenous variation in search costs for pairs of potential collaborators by... View Details
Keywords: Search Costs; Cost; Marketplace Matching; Groups and Teams; Science; Collaborative Innovation and Invention
Boudreau, Kevin, Tom Brady, Ina Ganguli, Patrick Gaule, Eva C. Guinan, Anthony Hollenberg, and Karim R. Lakhani. "A Field Experiment on Search Costs and the Formation of Scientific Collaborations." Review of Economics and Statistics 99, no. 4 (October 2017): 565–576.