Publications

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2020
Working Paper

Mortgage Prepayment, Race, and Monetary Policy

By: Kristopher Gerardi, Paul Willen and David Hao Zhang

Over the period 2005 to 2015, Black borrowers paid more than 40 basis points higher mortgage interest rates than Non-Hispanic white borrowers. We show that the main reason is that Non-Hispanic white borrowers are much more likely to exploit periods of falling interest... View Details

Keywords: Mortgages; Consumer Behavior; Race; Ethnicity; Equality and Inequality; Policy; United States

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October 1998 (Revised April 2000)
Background Note

Complexity and Error in Medicine

By: Richard M.J. Bohmer

Reviews the issues underlying the rate of error in medical practice and discusses the range of potential management interventions to decrease the risk of error. View Details

Keywords: Health Care and Treatment; Management Practices and Processes; Risk and Uncertainty; Complexity

September 2013
Article

Trends in Hip Arthroscopy Utilization in the United States.

By: K J Bozic, V. Chan, F. H. Valone, B. T. Feeley and T. P. Vail

INTRODUCTION: The purpose of this study was to evaluate the changing incidence of hip arthroscopy procedures among newly trained surgeons in the United States, the indications for hip arthroscopy, and the reported rate of post-operative... View Details

May 2010
Article

Optimal Auction Design and Equilibrium Selection in Sponsored Search Auctions

By: Benjamin Edelman and Michael Schwarz

We characterize the optimal (revenue maximizing) auction for sponsored search advertising. We show that a search engine's optimal reserve price is independent of the number of bidders and independent of the rate at which click-through rate declines over positions. We... View Details

Keywords: Auctions; Revenue; Advertising; Search Technology; Price; Bids and Bidding

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December 1986 (Revised March 1991)
Supplement

Caterpillar-Komatsu in 1986

By: Christopher A. Bartlett

Provides an update to the global competitive interaction between Caterpillar and Komatsu described in companion cases Caterpillar Tractor and Komatsu Ltd. Caterpillar's response to Komatsu's growing market share is outlined, then the impact of rapidly changing... View Details

Keywords: Competition; Currency Exchange Rate; Price; Global Strategy; Policy; Market Participation; Strategy; Manufacturing Industry; Agriculture and Agribusiness Industry; Industrial Products Industry

February 2023
Teaching Note

Bear to Bull? An Analyst’s Journey with Netflix

By: Aiyesha Dey and Joseph Pacelli

Teaching Note for HBS Case No. 123-001. Wedbush Securities analyst Michael Pachter said “hell freezing over” was more likely than him upgrading the “sell” rating he had maintained on movie and television streaming giant Netflix since 2011, despite meteoric subscriber... View Details

Keywords: Equity; Analysis; Stock Shares

September–October 2021
Article

Frontiers: Can an AI Algorithm Mitigate Racial Economic Inequality? An Analysis in the Context of Airbnb

By: Shunyuan Zhang, Nitin Mehta, Param Singh and Kannan Srinivasan

We study the effect of Airbnb’s smart-pricing algorithm on the racial disparity in the daily revenue earned by Airbnb hosts. Our empirical strategy exploits Airbnb’s introduction of the algorithm and its voluntary adoption by hosts as a quasi-natural experiment. Among... View Details

Keywords: Smart Pricing; Pricing Algorithm; Machine Bias; Discrimination; Racial Disparity; Social Inequality; Airbnb Revenue; Revenue; Race; Equality and Inequality; Prejudice and Bias; Price; Mathematical Methods; Accommodations Industry

SSRN

03 Mar 2008
News

Harvard Business School’s David Moss Provides Concise Guide to Macroeconomics

February 2013
Article

Commercial Property Rent Dynamics in U.S. Metropolitan Areas: An Examination of Office, Industrial, Flex and Retail Space

By: Maria Ibanez and Anthony Pennington-Cross

This paper is concerned with the market rental rate for space offered by commercial property and how that rental rate evolves over time. Rental rates reflect the value of the services provided by the property and can have a significant impact on the ability of its... View Details

Keywords: Commercial Real Estate; Rent Dynamics; Office Property; Flex Property; Retail Property; Industrial Property; Property; Real Estate Industry; United States

14 Jan 2019
Video

Measuring the Hidden Costs of Caregiving

February 2011 (Revised July 2011)
Supplement

Aluar: Aluminio Argentino S.A. (B)

By: David F. Hawkins, Hernan Etiennot, Gustavo A. Herrero and Hugo Pentenero

Argentine government claims inflation rate is 8 percent but others claim it is double that rate. Analysts' attempts to adjust the company's financial statements for inflation. View Details

Keywords: Financial Statements; Inflation and Deflation; Argentina

January 2003 (Revised March 2003)
Case

Southwest Airlines 2002: An Industry Under Siege

By: James L. Heskett

The company's management is faced with long-term questions regarding the rate and manner of growth in the wake of the 9/11 attacks and general industry malaise. View Details

Keywords: Cost; Product; Risk and Uncertainty; Growth and Development; Air Transportation Industry

March 2024 (Revised January 2025)
Case

Hippo: Weathering the Storm of the Home Insurance Crisis

By: Lauren Cohen, Grace Headinger and Sophia Pan

Rick McCathron, CEO of Hippo, considered how the firm’s underwriting model could account for the effects of climate change. Along with providing smart home packages, targeting risk-friendly customers, and using data-driven pricing, the Insurtech used technologically... View Details

January 2002 (Revised May 2003)
Case

ProfitLogic

By: Richard G. Hamermesh, Michael J. Roberts and Taslim Pirmohamed

Describes an "application software" company that has been through several evolutions--from consulting firm to applications service provider (ASP). The firm has received significant venture funding to pursue the ASP model but this has not worked, at least at the time... View Details

Keywords: History; Business Model; Venture Capital; Cash Flow; Decision Choices and Conditions; Balanced Scorecard; Information Technology Industry; Service Industry