Publications

July 2014
Article

Smart Money? The Effect of Education on Financial Outcomes

By: Shawn A. Cole, Anna Paulson and Gauri Kartini Shastry

Household financial decisions are important for household welfare, economic growth and financial stability. Yet, our understanding of the determinants of financial decision-making is limited. Exploiting exogenous variation in state compulsory schooling laws in both... View Details

Keywords: Personal Finance; Investment; Decisions; Behavior; Financial Condition

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Accounting & Management Awards & Honors - Faculty & Research

Jensen Prize for the best corporate finance paper published in the Journal of Financial Economics for “How Much Should We Trust Staggered Difference-In-Differences Estimates?” (May 2022) with Andrew Baker and David F. Larcker. 2022... View Details

10 May 2016
First Look

May 10, 2016

Agricultural Advice: Technology Adoption, Diffusion and Sustainability By: Cole, Shawn A., and A. Nilesh Fernando Abstract—We examine the role of management in agricultural... View Details

Keywords: Carmen Nobel

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Winners & Runners-Up | New Venture Competition

Sandra Nudelman Michele Nudelman Business Track Winner Tool to help attorneys optimize their litigation strategy by enabling judicial bias analysis. C3 BioEnergy Tracy Mathews Curt Fischer Andrew Peterson... View Details

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Finance Awards & Honors - Faculty & Research

2015 for “Resident Networks and Corporate Connections: Evidence from World War II Internment Camps” with Umit Gurun and Christopher Malloy ( Journal of Finance , 2017). Shawn A. Cole : Won the 2015 Faculty... View Details

May 2022
Article

Can Gambling Increase Savings? Empirical Evidence on Prize-Linked Savings Accounts

By: Shawn A. Cole, Benjamin Iverson and Peter Tufano

This paper studies the adoption and impact of prize-linked savings (PLS) accounts, which offer lottery-like payouts to individual account holders in lieu of interest. Using microlevel data from a bank in South Africa, we show that PLS is attractive to a broad group of... View Details

Keywords: Household Finance; Banking; Savings; Prize-linked Savings; Lottery; Household; Personal Finance; Saving; Banks and Banking

Purchase

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General Management Awards & Honors - Faculty & Research

Economics, University of California, Los Angeles, 1998. Regina E. Herzlinger : Winner of the 1998 James A. Hamilton Book of the Year Award presented by American College of Healthcare Executives for... View Details

15 Oct 2008
First Look

First Look: October 15, 2008

improved ability of firms to replicate business innovations has changed the nature of business competition. Download the paper: http://www.hbs.edu/research/pdf/07-016.pdf Do Voters Appreciate Responsive Governments? Evidence from Indian Disaster Relief Authors:Shawn... View Details

Keywords: Martha Lagace

October 2021
Article

Changing Gambling Behavior through Experiential Learning

By: Shawn A. Cole, Martin Abel and Bilal Zia

This paper tests experiential learning as a debiasing tool to reduce gambling in South Africa, through a randomized field experiment. The study implements a simple, interactive game that simulates the odds of winning the national lottery through dice rolling.... View Details

Keywords: Debiasing; Experiential Learning; Behavioral Economics; Financial Education; Learning; Games, Gaming, and Gambling; Behavior; Decision Making

November 2, 2012
Editorial

Natural Disasters Hurt Incumbents

By: Shawn A. Cole, Andrew Healy and Eric Werker

Keywords: Election Outcomes; Natural Disasters; Political Elections

17 Jan 2012
First Look

First Look: January 17

Evidence from the Indian Life Insurance Market Authors:Santosh Anagol, Shawn Cole, and Shayak Sarkar Abstract We conduct a series of field experiments to evaluate two competing views of the role of financial... View Details

Keywords: Sean Silverthorne

30 Jan 2018
First Look

January 30, 2018

2017 Annual Review of Economics Agricultural Insurance and Economic Development By: Cole, Shawn A., and Wentao Xiong Abstract—This article provides a review of recent research on agricultural insurance (AI)... View Details

Keywords: Sean Silverthorne

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Technology & Operations Management Awards & Honors - Faculty & Research

Article Award for his article with Thomas Lyon, Magali A. Delmas, John W. Maxwell, Pratima Bansal, Mireille Chiroleu-Assouline, Patricia Crifo, Rodolphe Durand, Jean-Pascal Gond, Andrew King, Michael Lenox,... View Details

2012
Article

Do Voters Demand Responsive Governments? Evidence from Indian Disaster Relief

By: Shawn Cole, Andrew Healy and Eric Werker

Using rainfall, public relief, and election data from India, we examine how governments respond to adverse shocks and how voters react to these responses. The data show that voters punish the incumbent party for weather events beyond its control. However, fewer voters... View Details

Keywords: Political Elections; System Shocks; Natural Disasters; Policy; Motivation and Incentives; Public Opinion; India

2021
Working Paper

Studying the U.S.-Based Portfolio Companies of U.S. Impact Investors

By: M. Diane Burton, Gurveen Chadha, Shawn A. Cole, Abhishek Dev, Christina Jarymowycz, Leslie Jeng, Laura Kelley, Josh Lerner, Jaime R. Diaz Palacios, Yue (Cynthia) Xu and T. Robert Zochowski

Recent years have seen a dramatic increase in the reliance on market-based solutions to social and environmental problems around the world (Barman 2016; Horvath and Powell 2020). The growth of impact investing is a vivid example of this trend and, although there have... View Details

Keywords: Impact Investing; Impact Portfolio Companies; Investment; Social Issues; Environmental Sustainability; Investment Portfolio; Business Ventures; Analytics and Data Science; Performance; United States