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- All HBS Web
(1,865)
- People (1)
- News (354)
- Research (1,221)
- Events (8)
- Multimedia (13)
- Faculty Publications (754)
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- 2024
- Working Paper
What Drives Variation in Investor Portfolios? Estimating the Roles of Beliefs and Risk Preferences
By: Mark Egan, Alexander MacKay and Hanbin Yang
We present an empirical model of portfolio choice that allows for the nonparametric estimation of investors' (subjective) expectations and risk preferences. Utilizing a comprehensive dataset of 401(k) plans from 2009 through 2019, we explore heterogeneity in asset... View Details
Keywords: Stock Market Expectations; Demand Estimation; Retirement Planning; Defined Contribution Retirement Plan; 401 (K); Finance; Investment Portfolio; Investment; Retirement; Behavioral Finance; Financial Services Industry; United States
Egan, Mark, Alexander MacKay, and Hanbin Yang. "What Drives Variation in Investor Portfolios? Estimating the Roles of Beliefs and Risk Preferences." Harvard Business School Working Paper, No. 22-044, December 2021. (Revisions Requested at the Review of Financial Studies. Revised April 2024. Direct download. NBER Working Paper Series, No. 29604, December 2021)
- 28 Nov 2016
- Research & Ideas
Challenging the Belief that Liability Laws Kill Medical Device Innovation
Doctors are afraid of getting sued. According to some accounts, 75 percent of them perform more tests and procedures than necessary to avoid potential lawsuits over medical malpractice. The phenomenon of “defensive medicine” has been examined exhaustively by... View Details
- July 2024
- Article
Whether to Apply
By: Katherine B. Coffman, Manuela Collis and Leena Kulkarni
Labor market outcomes depend, in part, upon an individual’s willingness to put herself forward for different opportunities. We use a series of experiments to explore gender differences in willingness to apply for higher return, more challenging work. We find that, in... View Details
Coffman, Katherine B., Manuela Collis, and Leena Kulkarni. "Whether to Apply." Management Science 70, no. 7 (July 2024): 4649–4669.
- 2015
- Conference Presentation
Is There Universal Belief in a Good True Self?
By: J. De Freitas, H. Sarkissian, I. Grossmann, F. De Brigard, A. Luco, G. E. Newman and J. Knobe
- November 2017
- Comment
Discussion: Do Common Inherited Beliefs and Values Influence CEO Pay?
By: Lauren Cohen
The origin of preferences is something we know strikingly little about in economics. Given the central importance of preferences, we have not invested nearly the time we should into this concept. And so, as an overarching research direction, I am heartened by the push... View Details
Cohen, Lauren. "Discussion: Do Common Inherited Beliefs and Values Influence CEO Pay?" Journal of Accounting & Economics 64, nos. 2-3 (November 2017): 368–370.
- 2013
- Comment
Fairness and Redistribution: Comment
By: Rafael Di Tella and Juan Dubra
In an influential paper, Alesina and Angeletos (2005)—henceforth, AA—argued that a preference for fairness could lead two identical societies to choose different economic systems. In particular, two equilibria might arise: one with low taxes and a belief that the... View Details
Di Tella, Rafael, and Juan Dubra. "Fairness and Redistribution: Comment." American Economic Review 103, no. 1 (February 2013): 549–553.
- 2015
- Conference Presentation
Is There Universal Belief in a Good True Self?
By: J. De Freitas, H. Sarkissian, I. Grossmann, F. De Brigard, A. Luco and G. E. Newman
- Article
(Too) Optimistic about Optimism: The Belief that Optimism Improves Performance.
By: Elizabeth R. Tenney, Jennifer M. Logg and Don A Moore
A series of experiments investigated why people value optimism and whether they are right to do so. In Experiments 1A and 1B, participants prescribed more optimism for someone implementing decisions than for someone deliberating, indicating that people prescribe... View Details
Keywords: Optimism; Bias; Accuracy; Decision Phase; Performance; Attitudes; Performance Improvement; Perception; Outcome or Result
Tenney, Elizabeth R., Jennifer M. Logg, and Don A Moore. "(Too) Optimistic about Optimism: The Belief that Optimism Improves Performance." Journal of Personality and Social Psychology 108, no. 3 (March 2015): 377–399. (lead article.)
- February 2019
- Article
Physician Beliefs and Patient Preferences: A New Look at Regional Variation in Health Care Spending
By: David Cutler, Jonathan Skinner, Ariel Dora Stern and David Wennberg
There is considerable controversy about the causes of regional variations in health care expenditures. Using vignettes from patient and physician surveys linked to fee-for-service Medicare expenditures, this study asks whether patient demand-side factors or physician... View Details
Cutler, David, Jonathan Skinner, Ariel Dora Stern, and David Wennberg. "Physician Beliefs and Patient Preferences: A New Look at Regional Variation in Health Care Spending." American Economic Journal: Economic Policy 11, no. 1 (February 2019): 192–221.
- 08 Jun 2015
- Working Paper Summaries
Physician Beliefs and Patient Preferences: A New Look at Regional Variation in Health Care Spending
- 2019
- Working Paper
Status Pivoting: Coping with Status Threats through Motivated Trade-off Beliefs and Consumption across Domains
By: Dafna Goor, Anat Keinan and Nailya Ordabayeva
Prior research established that status threat leads consumers to display status-related products such as luxury brands. While compensatory consumption in the domain of the status threat (e.g., products associated with financial and professional success) is the most... View Details
- Article
Is Saving Lives Your Task or God's?: Religiosity, Belief in God, and Moral Judgment
By: Netta Barak-Corren and Max Bazerman
Should a Catholic hospital abort a life-threatening pregnancy or let a pregnant woman die? Should a religious employer allow his employees access to contraceptives or break with healthcare legislation? People and organizations of faith often face moral decisions that... View Details
Keywords: Normative Conflict; Inaction; Indirectness; Deontology; Utilitarianism; Sunday Effect; Religion; Moral Sensibility; Decisions; Judgments
Barak-Corren, Netta, and Max Bazerman. "Is Saving Lives Your Task or God's? Religiosity, Belief in God, and Moral Judgment." Judgment and Decision Making 12, no. 3 (May 2017): 280–296.
- September–October 2017
- Article
Blurring the Boundaries: The Interplay of Gender and Local Communities in the Commercialization of Social Ventures
By: Stefan Dimitriadis, Matthew Lee, Lakshmi Ramarajan and Julie Battilana
This paper examines the critical role of gender in the commercialization of social ventures. We argue that cultural beliefs about what is perceived to be appropriate work for each gender influence how founders of social ventures incorporate commercial activity into... View Details
Keywords: Community; Cultural Beliefs; Social Enterprise; Gender; Local Range; Commercialization; Culture
Dimitriadis, Stefan, Matthew Lee, Lakshmi Ramarajan, and Julie Battilana. "Blurring the Boundaries: The Interplay of Gender and Local Communities in the Commercialization of Social Ventures." Organization Science 28, no. 5 (September–October 2017): 819–839.
- February 2018
- Article
Maintaining Beliefs in the Face of Negative News: The Moderating Role of Experience
By: Bradley R. Staats, Diwas S. KC and F. Gino
Many models in operations management involve dynamic decision making that assumes optimal updating in response to information revelation. However, behavioral theory suggests that rather than updating their beliefs, individuals may persevere in their prior beliefs. In... View Details
Keywords: Information; Announcements; Service Operations; Decision Making; Medical Specialties; Experience and Expertise; Medical Devices and Supplies Industry
Staats, Bradley R., Diwas S. KC, and F. Gino. "Maintaining Beliefs in the Face of Negative News: The Moderating Role of Experience." Management Science 64, no. 2 (February 2018): 804–824.
- 2014
- Conference Presentation
Beliefs about the True Self Explain Asymmetries Based on Moral Judgment
By: J. E. Newman, J. De Freitas and J. Knobe
- Forthcoming
- Chapter
Oil, Macroeconomic Volatility and Crime in the Determination of Beliefs in Venezuela
By: Rafael Di Tella, Javier Donna and Robert MacCulloch
Book Abstract: At the beginning of the twentieth century Venezuela had one of the poorest economies in Latin America, but by 1970 it had become the richest country in the region and one of the twenty richest countries in the world, ahead of countries such as Greece,... View Details
Keywords: Macroeconomics; Volatility; Crime and Corruption; Values and Beliefs; Non-Renewable Energy; Energy Industry; Venezuela
Di Tella, Rafael, Javier Donna, and Robert MacCulloch. "Oil, Macroeconomic Volatility and Crime in the Determination of Beliefs in Venezuela." Chap. 14 in Venezuela Before Chávez: Anatomy of an Economic Collapse, edited by Ricardo Hausmann and Francisco Rodriguez. Penn State University Press, 2014.
- 2021
- Working Paper
Issue Salience and Political Stereotypes
By: Pedro Bordalo, Marco Tabellini and David Yang
U.S. voters exaggerate the differences in attitudes held by Republicans and Democrats on a range of socioeconomic and political issues, and higher perceived polarization is associated with greater political engagement and affective polarization. In this paper, we... View Details
- 2010
- Other Unpublished Work
God, Government and Outsiders: The Influence of Religious Beliefs on Depositor Behavior in an Emerging Market.
By: Ayesha K. Khan and Tarun Khanna
This paper provides evidence that religious beliefs can have a significant impact on individual financial choices. Using proprietary panel data on the distribution of bank deposits across all commercial banks in Pakistan over a 33-month period, I find that Islamic... View Details
- December 1995
- Article
States of Affairs and States of Mind: The Curse of Knowledge of Beliefs
By: B. Keysar, L. Ginzel and M. H. Bazerman
Keysar, B., L. Ginzel, and M. H. Bazerman. "States of Affairs and States of Mind: The Curse of Knowledge of Beliefs." Organizational Behavior and Human Decision Processes 64, no. 3 (December 1995): 283–293.
- July 2024
- Article
A (Dynamic) Investigation of Stereotypes, Belief-Updating, and Behavior
By: Katherine B. Coffman, Paola Ugalde Araya and Basit Zafar
Many decisions—such as what educational or career path to pursue—are dynamic in nature, with individuals receiving feedback at one point in time and making decisions later. Using a controlled experiment, with two sessions one week apart, we analyze the dynamic effects... View Details
Keywords: Feedback; Beliefs; Stereotypes; Self-assessment; Gender Gap; Gender; Equality and Inequality; Perception; Decision Choices and Conditions
Coffman, Katherine B., Paola Ugalde Araya, and Basit Zafar. "A (Dynamic) Investigation of Stereotypes, Belief-Updating, and Behavior." Economic Inquiry 62, no. 3 (July 2024): 957–983.