Publications
Publications
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- All HBS Web
(10,113)
- Faculty Publications (1,972)
- September 2022
- Article
Find and Replace: R&D Investment Following the Erosion of Existing Products
By: Joshua L. Krieger, Xuelin Li and Richard T. Thakor
How do innovative firms react when existing products experience negative shocks? We explore this question with detailed project-level data from drug development firms. Using FDA Public Health Advisories as idiosyncratic negative shocks to approved drugs, we first... View Details
- September 2022
- Article
Giving a Buck or Making a Buck? Donations by Pharmaceutical Manufacturers to Independent Patient Assistance Charities
By: Leemore Dafny, Christopher Ody and Teresa Rokos
The federal Anti-Kickback Statute prohibits biopharmaceutical manufacturers from directly covering Medicare enrollees’ out-of-pocket spending for the drugs they manufacture, but manufacturers may donate to independent patient assistance charities and earmark donations... View Details
- August 2022 (Revised September 2023)
- Case
Evaluating the Impact of Hillside Harvest
By: Archie L. Jones, Mel Martin and Amy Klopfenstein
In fall 2021, the HBS Impact Investment Fund student team had just finished their last round of due diligence on the BIPOC-founded premium hot sauce company Hillside Harvest. They thought the business had a fine performance, showing potential to grow into a successful... View Details
- August 2022
- Background Note
Retail Media Networks
By: Eva Ascarza, Ayelet Israeli and Celine Chammas
In 2022, retail media was one of the fastest growing segments in digital advertising. A retail media network (RMN) allows a retailer to use its assets for advertising. Retailers set up an advertising business by allowing marketers to buy advertising space across their... View Details
Keywords: Advertisers; Advertising Media; Media And Broadcasting Industry; Retail; Retail Analytics; Retail Promotion; Retailing; Ecommerce; E-Commerce Strategy; E-commerce; Marketing Communication; Targeting; Targeted Advertising; Targeted Marketing; Advertising; Marketing; Marketing Communications; Marketing Strategy; Brands and Branding; Media; Marketing Channels; Retail Industry; Consumer Products Industry; Advertising Industry; United States
- August 2022 (Revised December 2022)
- Case
Iluméxico: For Every Family to Have Power
By: Brian Trelstad, Isa Oliveres and Jenyfeer Martinez Buitrago
In 2022, Manuel Wiechers, the CEO of Iluméxico, a for-profit social enterprise that provided off-grid solar energy services in rural Mexico, was finalizing his presentation for the company’s upcoming board meeting. In the 12 years since Wiechers had co-founded... View Details
- August 2022 (Revised January 2025)
- Case
NOW PT (A): Should We Invest?
By: George A Riedel, Amy Klopfenstein and Mel Martin
In fall 2021, a team of students from the HBS Impact Investing Fund considered Neurologic Optimal Wellness Physical Therapy (NOW PT) for a potential investment. Dr. Banks, the founder of NOW PT, drove to visit patients. She sought an investment from the fund to open a... View Details
- August 2022
- Supplement
NOW PT (B): Should We Invest?
By: George A. Riedel, Amy Klopfenstein and Mel Martin
This (B) case examines the results of the HBS Impact Investment Fund student team’s diligence on Neurologic Optimal Wellness Physical Therapy (NOW PT). After examining Springfield’s demographics, anticipated PT demand, local competition, and NOW PT’s financial... View Details
- August 2022
- Case
SuperRare: Turning an NFT Marketplace into a DAO
By: Jeffrey J. Bussgang, Scott Duke Kominers and Amy Klopfenstein
In June 2021, John Crain and Jonathan Perkins, the founders of SuperRare, a marketplace for non-fungible tokens (NFTs), contemplate whether to transform their company into a decentralized autonomous organization (DAO). Crain and Perkins founded SuperRare in 2018 to... View Details
Keywords: NFTs; Crypto Economy; Alternative Assets; DAOs; Arts; Governance; Governance Controls; Governing Rules, Regulations, and Reforms; Information Technology; Technology Adoption; Internet and the Web; Digital Platforms; Innovation and Invention; Technological Innovation; Disruptive Innovation; Finance; Currency; Investment; Markets; Auctions; Bids and Bidding; Demand and Consumers; Network Effects; Market Design; Market Transactions; Market Timing; Web Services Industry; North and Central America; United States
- August 2022 (Revised May 2025)
- Case
Fresh Food Generation
By: Brian Trelstad, Amy Klopfenstein and Mel Martin
This case highlights one of five BIPOC entrepreneurs in the Boston area as part of the HBS Impact Investment Fund. In fall 2021, a team of HBS students reviewed the financial statements of Fresh Food Generation (FFG), a Dorchester, Massachusetts-based food service... View Details
- August 2022
- Article
Availability of New Medicines in the U.S. and Germany From 2004 to 2018
By: Katharina Blankart, Huseyin Naci and Amitabh Chandra
Importance: Germany's unique approach to coverage determination and pricing has ensured that effective medicines remain on the market, often at prices reduced through negotiation. However, less is known about trade-offs of this approach with regard to initial... View Details
- August, 2022
- Article
Changing Ingroup Boundaries: The Effect of Immigration on Race Relations in the United States
By: Vasiliki Fouka and Marco Tabellini
How do social group boundaries evolve? Does the appearance of a new outgroup change the ingroup's perceptions of other outgroups? We introduce a conceptual framework of context-dependent categorization, in which exposure to one minority leads to recategorization of... View Details
- 2022
- Article
Data Poisoning Attacks on Off-Policy Evaluation Methods
By: Elita Lobo, Harvineet Singh, Marek Petrik, Cynthia Rudin and Himabindu Lakkaraju
Off-policy Evaluation (OPE) methods are a crucial tool for evaluating policies in high-stakes domains such as healthcare, where exploration is often infeasible, unethical, or expensive. However, the extent to which such methods can be trusted under adversarial threats... View Details
- 2022
- Article
Fairness via Explanation Quality: Evaluating Disparities in the Quality of Post hoc Explanations
By: Jessica Dai, Sohini Upadhyay, Ulrich Aivodji, Stephen Bach and Himabindu Lakkaraju
As post hoc explanation methods are increasingly being leveraged to explain complex models in high-stakes settings, it becomes critical to ensure that the quality of the resulting explanations is consistently high across all subgroups of a population. For instance, it... View Details
- 2022
- Article
Nonparametric Subset Scanning for Detection of Heteroscedasticity
By: Charles R. Doss and Edward McFowland III
We propose Heteroscedastic Subset Scan (HSS), a novel method for identifying covariates that are responsible for violations of the homoscedasticity assumption in regression settings. Viewing the problem as one of anomalous pattern detection, we use subset scanning... View Details
- 2022
- Working Paper
Overreaction and Diagnostic Expectations in Macroeconomics
By: Pedro Bordalo, Nicola Gennaioli and Andrei Shleifer
We present the case for the centrality of overreaction in expectations for addressing important challenges in finance and macroeconomics. First, non-rational expectations by market participants can be measured and modeled in ways that address some of the key challenges... View Details
- 2022
- Article
Towards Robust Off-Policy Evaluation via Human Inputs
By: Harvineet Singh, Shalmali Joshi, Finale Doshi-Velez and Himabindu Lakkaraju
Off-policy Evaluation (OPE) methods are crucial tools for evaluating policies in high-stakes domains such as healthcare, where direct deployment is often infeasible, unethical, or expensive. When deployment environments are expected to undergo changes (that is, dataset... View Details
- July 2022
- Case
boAt Lifestyle
By: Rajiv Lal and Kairavi Dey
boAt began as a lifestyle brand in the consumer electronics category in 2016 with the aim of bringing affordable, durable, and fashionable audio products and accessories to millennials and Gen-Z customers in India. Born in 2016 with Amazon India as its only sales... View Details
- July 2022
- Case
Operation Overlord
By: Boris Groysberg, Greg Goullet, Katherine Connolly Baden and Sarah L. Abbott
On June 6, 1944, nearly 5,000 ships, 11,000 planes, and 160,000 infantrymen under an Allied joint-command of American, British, and Canadian leaders were sent across the English Channel, with hopes of re-establishing a foothold in Nazi-occupied France. Known as D-Day,... View Details
- July 2022
- Teaching Note
Arçelik (A), (B): From a Dealer Network to an Omnichannel Experience
By: Ayelet Israeli, Fares Khrais and Menna Hassan
Arçelik Turkey, the country’s market leader in household appliances, was at an omnichannel crossroads in January 2020. Arçelik was a B2B player utilizing a dealership network with an umbrella of brands and had one of the largest brick-and-mortar store networks in... View Details
Keywords: Digital Marketing; Bricks And Mortar; Franchise Management; Franchising; Dealer Network; Dealers; B2B; B2B2C; Tradition; Culture Change; Cultural Adaptation; Omnichannel; Omnichannel Retail; Omni-channel; Omnichannel Retailing; Sales Channels; Sales Channel Development; Channel Management; Channels Of Distribution; Marketplace; Platforms; Collaboration; Online Channel; Online Data; Online Sales; Online Shopping; Online; Retail; Retailing; Disruption; Transformation; Franchise Ownership; Change Management; Partners and Partnerships; Consumer Behavior; Sales; Internet and the Web; Marketing Strategy; Conflict and Resolution; Conflict Management; Organizational Culture; Distribution Channels; Digital Transformation; Electronics Industry; Retail Industry; Consumer Products Industry; Turkey
- 2022
- Working Paper
Pricing Power in Advertising Markets: Theory and Evidence
By: Matthew Gentzkow, Jesse M. Shapiro, Frank Yang and Ali Yurukoglu
Existing theories of media competition imply that advertisers will pay a lower price in equilibrium to reach consumers who multi-home across competing outlets. We generalize and extend this theoretical result and test it using data from television and social media... View Details