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- Faculty Publications (128)
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- 24 Jan 2005
- Research & Ideas
Rethinking Activity-Based Costing
$0.80) for processing customer orders, $35.20 (44 by $0.80) for handling inquiries, and $40 (50 by $0.80) for performing credit checks. Once you have calculated these standard rates, you can apply them in real time to assign costs to... View Details
Keywords: by Robert S. Kaplan & Steven R. Anderson
- April 2015
- Case
Who Owns the Whale?
By: Thales S. Teixeira and David E. Bell
Judge William Wright considers the case of the dispute of a whale carcass wherein several whaling ships claim ownership based on each one's contribution to its killing. The judge must weigh in the differing efforts and costs of three ships who each played a role at... View Details
Keywords: Whaling; Attribution; Norms-of-ownership; Transaction Costs; Deadweight Losses; Free-rider Problem; Advertising; History; Advertising Industry; North America; Europe
Teixeira, Thales S., and David E. Bell. "Who Owns the Whale?" Harvard Business School Case 515-107, April 2015.
- June 2021
- Article
Symmetric Ignorance: The Cost of Anonymous Lemons
By: Amar Bhidé
Rules that restrict information required in negotiated private transactions have spurred a vast increase in the scope of anonymous financial markets, particularly in the United States. The subtle costs of the information‐restricting rules raise questions about the... View Details
Keywords: Information Asymmetry; Liquidity; Regulation; Securities Markets; Securitization; Information; Financial Liquidity; Financial Markets; Governing Rules, Regulations, and Reforms
Bhidé, Amar. "Symmetric Ignorance: The Cost of Anonymous Lemons." European Financial Management 27, no. 3 (June 2021): 414–425.
- 11 Apr 2007
- Research & Ideas
Adding Time to Activity-Based Costing
To improve any business, managers need to understand how much it costs to produce a profitable product. It seems a simple task, but the process of securing and analyzing the data can be incredibly complex and organizationally taxing. In... View Details
Keywords: by Sarah Jane Gilbert
- 1995
- Chapter
Securities Transaction Taxes: What about International Experiences Migrating Markets?
By: John Y. Campbell and Kenneth A. Froot
Keywords: Corporation Taxation; Interest Deductibility; Cost of Capital; Taxation; Financing and Loans; Interest Rates; Corporate Finance
Campbell, John Y., and Kenneth A. Froot. "Securities Transaction Taxes: What about International Experiences Migrating Markets?" Chap. 4 in Securities Transaction Taxes: False Hopes and Unintended Consequences, edited by Suzanne Hammond, 110–142. Chicago: Irwin Professional Publishing, 1995. (Reprinted in Inversión y Finanzas, 1996.)
- April 2015
- Case
Who Owns the Whale? (Abridged)
By: Thales S. Teixeira and David E. Bell
Judge William Wright considers the case of the dispute of a whale carcass wherein several whaling ships claim ownership based on each one's contribution to its killing. The judge must weigh in the differing efforts and costs of three ships who each played a role at... View Details
Keywords: Whaling; Attribution; Norms-of-ownership; Transaction Costs; Deadweight Losses; Free-rider Problem; Advertising; History; United States; United Kingdom
Teixeira, Thales S., and David E. Bell. "Who Owns the Whale? (Abridged)." Harvard Business School Case 515-108, April 2015.
- 1996
- Working Paper
The Determinants of Optimal Currency Hedging
By: Kenneth Froot and André Perold
- 2025
- Working Paper
Pulp Friction: The Value of Quantity Contracts in Decentralized Markets
By: Olivier Darmouni, Simon Essig Aberg and Juha Tolvanen
Firms in decentralized markets often trade using quantity contracts, agreements that specify quantity prior to the point of sale. These contracts are valuable because they provide quantity assurance, as trading frictions could prevent a buyer and seller from matching... View Details
Keywords: Decentralized Markets; Trading Frictions; Market Structure; Transaction Costs; Contracts; Market Transactions; Pulp and Paper Industry
Darmouni, Olivier, Simon Essig Aberg, and Juha Tolvanen. "Pulp Friction: The Value of Quantity Contracts in Decentralized Markets." Working Paper, May 2025.
- 2012
- Article
The Internalization of Advertising Services: An Inter-Industry Analysis
By: Sharon Horsky, Steven C. Michael and Alvin J. Silk
This study investigates the extent to which U.S. advertisers use in-house rather than independent advertising agencies and examines inter-industry variation in such internalization. Contrary to the widely held impression that use of an in-house advertising agency is... View Details
Keywords: Advertisers; In-house Advertising; Inter-industry Variation; Internalization; Scale Economies; Transaction Costs; Vertical Integration; Advertising Costs; Creative Industries; Marketing Strategy; Advertising Industry; Europe; North and Central America
Horsky, Sharon, Steven C. Michael, and Alvin J. Silk. "The Internalization of Advertising Services: An Inter-Industry Analysis." Review of Marketing Science 10, no. 1 (2012).
- 08 May 2006
- Research & Ideas
The Cost of Cutting in Line
suggest that even those who had accepted payment during the first encounter did not view the transaction as an ordinary exchange. Rather, the willingness to let someone cut in seems to be based on seeing the situation as... View Details
Keywords: by Sean Silverthorne
- September 2016
- Article
Monitoring Global Supply Chains
By: Jodi L. Short, Michael W. Toffel and Andrea R. Hugill
Firms seeking to avoid reputational spillovers that can arise from dangerous, illegal, and unethical behavior at supply chain factories are increasingly relying on private social auditors to provide strategic information about suppliers' conduct. But little is known... View Details
Keywords: Monitoring; Transaction Cost Economics; Industry Self-regulation; Auditing; Codes Of Conduct; Supply Chains; Corporate Social Responsibility; Corporate Social Responsibility and Impact; Supply Chain; Globalization
Short, Jodi L., Michael W. Toffel, and Andrea R. Hugill. "Monitoring Global Supply Chains." Strategic Management Journal 37, no. 9 (September 2016): 1878–1897. (Video abstract (4 minutes). Working Knowledge article for practitioners.)
- 2015
- Chapter
Innovating without Information Constraints: Organization, Communities, and Innovation when Information Costs Approach Zero
By: Elizabeth J. Altman, Frank Nagle and Michael Tushman
Innovation has traditionally taken place within an organization's boundaries and/or with selected partners. This Chandlerian approach to innovation has been rooted in transaction costs, organizational boundaries, and information processing challenges associated with... View Details
Keywords: Knowledge Sharing; Cost; Innovation and Management; Collaborative Innovation and Invention
Altman, Elizabeth J., Frank Nagle, and Michael Tushman. "Innovating without Information Constraints: Organization, Communities, and Innovation when Information Costs Approach Zero." In The Oxford Handbook of Creativity, Innovation, and Entrepreneurship, edited by Christina E. Shalley, Michael A. Hitt, and Jing Zhou, 353–379. Oxford University Press, 2015.
- 1993
- Working Paper
Currency Hedging Over Long Horizons
By: K. A. Froot
This paper reexamines the widely-held wisdom that the currency exposure of international investments should be entirely hedged. It finds that the previously documented ability of hedges to reduce portfolio return variance holds at short horizons, but not at long... View Details
- December 2019
- Article
The Impact of Increasing Search Frictions on Online Shopping Behavior: Evidence from a Field Experiment
By: Donald Ngwe, Kris J. Ferreira and Thales Teixeira
Many online stores are designed such that shoppers can easily access any available discounted products. We propose that deliberately increasing search frictions by placing small obstacles to locating discounted items can improve online retailers’ margins and even... View Details
Keywords: Online Retailing; Friction; Effor; Search Costs; Price Discrimination; Marketing; Consumer Behavior; Strategy; Price; E-commerce; Retail Industry; Fashion Industry
Ngwe, Donald, Kris J. Ferreira, and Thales Teixeira. "The Impact of Increasing Search Frictions on Online Shopping Behavior: Evidence from a Field Experiment." Journal of Marketing Research (JMR) 56, no. 6 (December 2019): 944–959.
- Article
The Cost Structure, Customer Profitability, and Retention Implications of Self-Service Distribution Channels: Evidence from Customer Behavior in an Online Banking Channel
By: Dennis Campbell and Frances X. Frei
This paper uses the context of online banking to investigate the consequences of employing self-service distribution channels to alter customer interactions with the firm. Using a sample of retail banking customers observed over a 30-month period at a large U.S. bank,... View Details
Keywords: Cost; Service Operations; Distribution Channels; Consumer Behavior; Internet and the Web; Banks and Banking; Technology Adoption; Service Delivery; Market Transactions; Market Participation; Profit; Retail Industry; Banking Industry; United States
Campbell, Dennis, and Frances X. Frei. "The Cost Structure, Customer Profitability, and Retention Implications of Self-Service Distribution Channels: Evidence from Customer Behavior in an Online Banking Channel." Management Science 56, no. 1 (January 2010): 4–24. (Lead Article.)
- 2018
- Working Paper
Shipping Fees and Product Assortment in Online Retail
By: Chaoqun Chen and Donald Ngwe
Shipping fees are an important aspect of online retail for both consumers and sellers. A common fee structure is contingent free shipping, in which consumers are granted free shipping for basket sizes above a minimum value and are charged a flat fee for orders below... View Details
Keywords: Shpping Fee; E-commerce; Multi-category Demand; Search Costs; Shipping Membership; Spending; Consumer Behavior; Retail Industry
Chen, Chaoqun, and Donald Ngwe. "Shipping Fees and Product Assortment in Online Retail." Harvard Business School Working Paper, No. 19-034, September 2018.
- 2019
- Working Paper
The Impact of Increasing Search Frictions on Online Shopping Behavior: Evidence from a Field Experiment
By: Donald Ngwe, Kris J. Ferreira and Thales Teixeira
Many online stores are designed such that shoppers can easily access any available discounted products. We propose that deliberately increasing search frictions by placing small obstacles to locating discounted items can improve online retailers’ margins and even... View Details
Keywords: E-commerce; Online Retailing; Friction; Effor; Search Costs; Price Discrimination; Consumer Behavior; Price; Search Technology
Ngwe, Donald, Kris J. Ferreira, and Thales Teixeira. "The Impact of Increasing Search Frictions on Online Shopping Behavior: Evidence from a Field Experiment." Harvard Business School Working Paper, No. 19-080, January 2019.
- April 2000
- Background Note
Market Failures
Examines the role of transaction costs in impeding the functioning of markets and shows how the concept of transaction costs sheds light on a broad range of issues in strategy. View Details
Keywords: Competitive Strategy; Competition; Corporate Strategy; Cost; Market Transactions; Industry Clusters; Failure; Internet
Anand, Bharat N., Tarun Khanna, and Jan W. Rivkin. "Market Failures." Harvard Business School Background Note 700-127, April 2000.
- 2007
- Working Paper
Modularity, Transactions, and the Boundaries of Firms: A Synthesis
This paper constructs a unified theory of the location of transactions and the boundaries of firms. It proposes that systems of production can be viewed as networks of tasks. Transactions, defined as mutually agreed-upon transfers with compensation, are located... View Details
Keywords: Geographic Location; Market Entry and Exit; Market Transactions; Industry Structures; Production; Boundaries; Theory
Baldwin, Carliss Y. "Modularity, Transactions, and the Boundaries of Firms: A Synthesis." Harvard Business School Working Paper, No. 08-013, September 2007.
- 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
Cheng, Beiting, Suraj Srinivasan, and Gwen Yu. "Securities Litigation Risk for Foreign Companies Listed in the U.S." Harvard Business School Working Paper, No. 13-036, October 2012. (Revised March 2014.)