Publications

Educators

October 2024
Article

Greater Covid-19 Vaccine Uptake among enrollees Offered Health and Social Needs Case Management: Results from a Randomized Trial

By: Margae Knox, Elizabeth A. Hernandez, Daniel M. Brown, Jennifer Ahern, Mark D. Fleming, Crystal Guo and Amanda L. Brewster

The CommunityConnect case management program for Medicaid beneficiaries is run by Contra Costa Health, a county safety net health system in California. Case management infrastructure modestly improved Covid-19 vaccine uptake in a population of Medicaid beneficiaries... View Details

Keywords: Health Care and Treatment; Health Pandemics; Medical Specialties; Programs; Human Needs; Welfare; Health Industry; California

2023
Working Paper

Evaluation and Learning in R&D Investment

By: Alexander P. Frankel, Joshua L. Krieger, Danielle Li and Dimitris Papanikolaou

We examine the role of spillover learning in shaping the value of exploratory versus incremental R&D. Using data from drug development, we show that novel drug candidates generate more knowledge spillovers than incremental ones. Despite being less likely to reach... View Details

Keywords: Research and Development; Forecasting and Prediction; Valuation; Pharmaceutical Industry

Article

Trust and Incentives in Agency

By: Ramon Casadesus-Masanell and Daniel F Spulber

Contracts between a principal and an agent are not formed in a vacuum. Although formal contracts between a principal and an agent contain explicit incentives for performance, the relationship between a principal and an agent also involves implicit incentives. Three... View Details

Keywords: Trust; Motivation and Incentives; Agency Theory; Contracts; Market Transactions; Performance; Relationships; Societal Protocols; Legal Liability; Cost

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29 Sep 2009
First Look

First Look: September 29

yields. However, the fraction of seniors is uncorrelated with share repurchases, investment, or profitability, suggesting that geographic variation in dividend payout is not driven by some unmeasured firm characteristic affecting the... View Details

Keywords: Martha Lagace

2015
Working Paper

Public R&D Investments and Private-sector Patenting: Evidence from NIH Funding Rules

By: Pierre Azoulay, Joshua S. Graff Zivin, Danielle Li and Bhaven N. Sampat

We quantify the impact of scientific grant funding at the National Institutes of Health (NIH) on patenting by pharmaceutical and biotechnology firms. Our paper makes two contributions. First, we use newly constructed bibliometric data to develop a method for flexibly... View Details

Keywords: Economics Of Science; Patenting; Academic Reserach; NIH; Knowledge Spillovers; Patents; Research; Government and Politics

2019
Working Paper

Collusive Investments in Technological Compatibility: Lessons from U.S. Railroads in the Late 19th Century

By: Daniel P. Gross

Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the... View Details

Keywords: Collusion; Compatibility; Railroads; Rail Transportation; Standards; Integration; Trade; History; United States

SSRN

May 1991
Article

Presidential Commitment and the Veto

By: Daniel E. Ingberman and Dennis Yao

A president's power to veto is widely recognized as an important weapon in the struggle with Congress over legislation. In this paper we investigate the effectiveness of the veto weapon with a simple model of presidential powers that incorporates informal institutional... View Details

Keywords: Government Legislation; Laws and Statutes; Financial Markets; Value; Taxation; Conflict and Resolution; Research; Performance Effectiveness; Legal Services Industry

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2023
Working Paper

Financial and Informational Integration Through Oracle Networks

By: Lin William Cong, Eswar Prasad and Daniel Rabetti

Oracles are software components that enable data exchange between siloed blockchains and external environments, enhancing smart contract capabilities and platform interoperability. We find that oracle integration is positively associated with total value locked and... View Details

Keywords: Decentralized Finance; Blockchain; Smart Contract; International Economy; Interoperability; Risk Sharing; Applications and Software; Financial Markets; Economics; Risk Management

SSRN

2010
Working Paper

Agency Revisited

By: Ramon Casadesus-Masanell and Daniel F. Spulber

The article presents a comprehensive overview of the principal-agent model that emphasizes the role of trust in the agency relationship. The analysis demonstrates that the legal remedy for breach of duty can result in a full-information efficient outcome eliminating... View Details

Keywords: Ethics; Contracts; Agency Theory; Mathematical Methods; Behavior; Trust

22 Apr 2014
First Look

First Look: April 22

control over the use of remittances. In partnership with a Salvadoran bank, we offered U.S.-based migrants from El Salvador bank accounts in their home country into which they could send remittances. We randomly varied migrant control over El Salvador-based savings... View Details

Keywords: Sean Silverthorne

June 29, 2022
Other Article

Strategic Complexity? Using Experiments to Understand and Overcome Obfuscation

By: Michael Luca, Ginger Zhe Jin and Daniel Martin

Credit card companies must decide what product features to disclose to consumers, such as payment schedules, penalties, and fees--and also whether to present them clearly or bury them in the fine print. Firms face similar choices in settings ranging from privacy... View Details

Keywords: Obfuscation; Credit Cards; Strategic Incentives; Complexity; Agreements and Arrangements; Customers; Consumer Behavior; Financial Services Industry

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January 2025 (Revised February 2025)
Background Note

A High-Tech Revolution with Chinese Characteristics: China's Drive Towards EV Supremacy

By: William C. Kirby, Daniel Fu and Matthew Ngai

This background note explains and documents the rise of China's EV industry. Moreover, it identifies the challenges facing it and posits several questions about the decisions needed to be made to sustain the industry's global dominance. Would Chinese producers be able... View Details

Keywords: State Capitalism; Electric Vehicles; Tesla; Renewable Energy; Global Strategy; Taxation; Technological Innovation; Industry Growth; Competition; Auto Industry; China; United States; Japan; European Union

Educators

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

Keywords: Public Finance; Real Estate; Property Demand; Taxation; Property; Revenue; Los Angeles

SSRN

Article

On the Causality and Cause of Returns to Organizational Status: Evidence from the Grands Crus Classés of the Médoc

By: Daniel Malter

This paper identifies the causal symbolic effect of status on the prices organizations charge for their products. I exploit the classification of the châteaux of the Médoc, which sorted 61 wine producers into five growth classes in 1855, as a fixed hierarchical symbol... View Details

Keywords: Organizational Status; Quality Signals; Conspicuous Consumption; Wine Classification Of 1855; Grand Cru; Status and Position; Quality; Reputation; Price; France

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30 Jun 2009
First Look

First Look: June 30

theorists differ as to whether exploitation undermines or enhances exploration. The debate reflects a gap—the missing theoretical mechanism by which organizations break free of old routines and discover new ones. We propose that the... View Details

Keywords: Martha Lagace

January 2025 (Revised March 2025)
Case

DJI- Striving for Innovation Amid Contestation

By: William C. Kirby and Daniel Fu

DJI was founded in a college dorm room in Clear Water Bay, Hong Kong. By 2020, DJI, a company manufacturing drones, occupied a 77% share of consumer drone sales in the United States with a wide array of clients including law enforcement and government agencies. Its... View Details

Keywords: Drones; Hong Kong; China; Chinese Manufacturing; Chinese Dream; China's Political Economy

Educators

2023
Working Paper

Insufficiently Justified Disparate Impact: A New Criterion for Subgroup Fairness

By: Neil Menghani, Edward McFowland III and Daniel B. Neill

In this paper, we develop a new criterion, "insufficiently justified disparate impact" (IJDI), for assessing whether recommendations (binarized predictions) made by an algorithmic decision support tool are fair. Our novel, utility-based IJDI criterion evaluates false... View Details

Keywords: AI and Machine Learning; Forecasting and Prediction; Prejudice and Bias