Publications

July 2009
Article

Bad Riddance or Good Rubbish? Ownership and Not Loss Aversion Causes the Endowment Effect

By: C. K. Morewedge, L. L. Shu, D. T. Gilbert and T. D. Wilson

People typically demand more to relinquish the goods they own than they would be willing to pay to acquire those goods if they didn't already own them (the endowment effect). The standard economic explanation of this phenomenon is that people expect the pain of... View Details

Keywords: Value; Judgments; Consumer Behavior; Attitudes

Charles C.Y. Wang is the Tandon Family Professor of Business Administration at Harvard Business School. He is a research member of the European Corporate Governance Institute (ECGI) and an associate editor of Management Science and Journal of Accounting Research,... View Details

2013
Working Paper

Securities Litigation Risk for Foreign Companies Listed in the U.S.

By: Beiting Cheng, Suraj Srinivasan and Gwen Yu

We study securities litigation risk faced by foreign firms listed on U.S. exchanges. We take into account not only the propensity for foreign firms to commit violations of U.S. securities laws but also the costs that investors face when suing foreign firms. We find... View Details

Keywords: Litigation Risk; Cross Listing; Bonding; 10b-5; Securities Litigation; U.S.Listing; Class Action; Risk and Uncertainty; Debt Securities; Globalized Firms and Management; Ethics; Lawsuits and Litigation; United States

SSRN

December 2017 (Revised March 2019)
Case

Armarium: Luxury Fashion Brands for Rent

By: Jill Avery, David Fubini, Natasha Dossa and Devon Stewart

Armarium, a two-sided online platform that offered consumers the opportunity to rent the most coveted, current season high fashion clothing and accessories from the top global luxury brands, had emerged from its first sales season with two distinct customer segments:... View Details

Educators

20 Jan 2015
First Look

First Look: January 20

to have higher academic achievement and experience greater acceptance by their peers in adolescence. Despite this positive influence on educational outcomes, it is still unclear why some children are more prosocial than others in school.... View Details

Keywords: Sean Silverthorne

2021
Working Paper

Closing Costs, Refinancing, and Inefficiencies in the Mortgage Market

By: David Hao Zhang

In the US, borrowers often finance the price of mortgage origination by agreeing to higher mortgage rates for a given principal amount. I show that for standard fixed-rate, prepayable mortgages this contractual feature has two consequences. First, it leads to increased... View Details

Keywords: Mortgage Market; Refinancing; Mortgages; Consumer Behavior

2020
Working Paper

Dog Eat Dog: Balancing Network Effects and Differentiation in a Digital Platform Merger

By: Chiara Farronato, Jessica Fong and Andrey Fradkin

Digital platforms are increasingly the subject of regulatory scrutiny. In comparison to multiple competitors, a single platform may increase consumer welfare if network effects are large or may decrease welfare due to higher prices or reduction in platform variety. We... View Details

Keywords: Platform Differentiation; Digital Platforms; Network Effects; Measurement and Metrics; Mergers and Acquisitions; Outcome or Result

June 2019
Article

Brokers vs. Retail Investors: Conflicting Interests and Dominated Products

By: Mark Egan

I study how brokers distort household investment decisions. Using a novel convertible bond dataset, I find that consumers often purchase dominated bonds—cheap and expensive versions of otherwise identical bonds coexist in the market. The empirical evidence suggests... View Details

Keywords: Brokers; Fiduciary Standard; Consumer Finance; Structured Products; Household; Investment; Decisions; Motivation and Incentives; Conflict of Interests

1985
Working Paper

Sequential Innovation and Market Structure

By: Jerry R. Green and Jean-Jacques Laffont

This paper concerns the introduction of a sequence of new, higher-quality durable products in a market in which there already exists a lower-quality substitute. The product has the further attribute that a real resource cost is incurred at the time a higher-quality... View Details

06 Mar 2018
First Look

First Look at Research and Ideas, March 6, 2018

trade-off between competitive price discovery and convenience. Evidence from eBay fits the theory: auctions are favored by less experienced sellers and for idiosyncratic products, and auction listings sell at a discount but with View Details

Keywords: Sean Silverthorne

07 Oct 2014
Working Paper Summaries

Lifting the Veil: The Benefits of Cost Transparency

Keywords: by Bhavya Mohan, Ryan W. Buell & Leslie K. John; Retail

17 Mar 2022
Research & Ideas

Navigating Tradeoffs: How Purpose Becomes a Company's ‘Lighthouse in the Storm’

Gotham Greens has an ongoing sustainable packaging team that stays abreast of new technologies as they emerge, continually searching for more sustainable options. Puri believes that a lack of suitable eco-packaging alternatives that perform well and are accessibly... View Details

Keywords: by Ranjay Gulati

05 Feb 2019
First Look

New Research and Ideas, February 5, 2019

Shane Abstract— No abstract available. Publisher's link: https://www.hbs.edu/faculty/Pages/item.aspx?num=55575 Pre-published online, December 22, 2018 Cambridge Journal of Regions, Economy and Society The New Silk Road: Implications for View Details

Keywords: Dina Gerdeman

March 2018 (Revised December 2019)
Case

Edward Lewis: Essence Magazine

By: Steven Rogers and Jacqueline Adams

Essence, the first magazine aimed at African-American women, was created by four, young, Black entrepreneurs in the aftermath of massive racial and political upheaval in the United States in 1968. The venture was a financial, branding and cultural success. By 2005, the... View Details

Educators

November 1993
Case

Colonial Broadcasting Co.

Colonial Broadcasting, a major American television network, must determine whether fact-based television movies garner higher Nielsen ratings than movies based on fictional concepts. Furthermore, the network must decide whether to accept a fixed-fee advertising... View Details

Keywords: Cost vs Benefits; Advertising; Media and Broadcasting Industry; United States

Educators

05 Jun 2012
First Look

First Look: June 5

Reaching for Yield in the Bond Market Authors:Bo Becker and Victoria Ivashina Abstract Reaching-for-yield-the propensity to buy riskier assets in order to achieve higher yields-is believed to be an important factor contributing to the... View Details

Keywords: Sean Silverthorne

2010
Article

Measuring the Perpetrators and Funders of Typosquatting

By: Tyler Moore and Benjamin Edelman

We describe a method for identifying "typosquatting", the intentional registration of misspellings of popular website addresses. We estimate that at least 938,000 typosquatting domains target the top 3,264 .com sites, and we crawl more than 285,000 of these domains to... View Details

Keywords: Measurement and Metrics; Online Technology; Web

November 2008
Journal Article

Can Research Committees Add Value for Investors? An Analysis of Lehman Brothers' Ten Uncommon Values® Recommendations

By: Boris Groysberg, Paul M. Healy and Yang Gui

Since 1949 Lehman Brothers has used an investment committee to select the top ten recommendations made by its analysts each year. We examine the performance of this committee's recommendations and find that on average its selections generated abnormal returns of 2.7%... View Details

Keywords: Forecasting and Prediction; Stocks; Financial Markets; Investment; Investment Return; Governing Rules, Regulations, and Reforms; Performance Expectations; Groups and Teams; Research; Value Creation

2001
Working Paper

Airbus vs. Boeing in Superjumbos: Credibility and Preemption

By: Benjamin C. Esty and Pankaj Ghemawat

In December 2000, Airbus formally committed to spend $12 billion to develop and launch a 555-seat superjumbo plane known as the A380. Prior to and after Airbus’ commitment, Boeing started and canceled several initiatives aimed at developing a “stretch jumbo” with... View Details

Keywords: Air Transportation; Product Development; Market Entry and Exit; Valuation; Game Theory