Publications

August 2000 (Revised July 2002)
Background Note

Economic Evidence on the Globalization of Markets

Presents the systematic evidence in the context of the microeconomic model of market integration. Market integration is just one (economic) aspect of globalization; this is one of the particular interests to business managers. View Details

Keywords: Globalized Markets and Industries

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05 Dec 2013
What Do You Think?

Is Walmart Defying Economic Gravity?

posed for many years: How much longer will Walmart's business model be sustainable? Will it be endangered by its size, increases in the minimum wage laws, or other business and social trends that have plagued nearly every other large... View Details

Keywords: by James Heskett; Retail

2016
Working Paper

The Empirical Economics of Online Attention

By: Andre Boik, Shane Greenstein and Jeffrey Prince

In several markets, firms compete not for consumer expenditure but instead for consumer attention. We model and characterize how households allocate their scarce attention in arguably the largest market for attention: the Internet. Our characterization of household... View Details

Keywords: Internet and the Web; Competition; Behavior; Resource Allocation; Household; Cognition and Thinking

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Article

An Exploration of Optimal Stabilization Policy

By: N. Gregory Mankiw and Matthew C. Weinzierl

This paper examines the optimal response of monetary and fiscal policy to a decline in aggregate demand. The theoretical framework is a two-period general equilibrium model in which prices are sticky in the short-run and flexible in the long-run. Policy is evaluated by... View Details

Keywords: Fiscal Policy; Monetary Policy; Economic Models; Aggregate Demand; Demand and Consumers; Money; Mathematical Methods; Taxation; Spending; Policy; Welfare; Household; Economic Slowdown and Stagnation

March 2012 (Revised April 2012)
Case

The Korean Model of Shared Growth, 1960-1990

By: Aldo Musacchio, Rafael Di Tella and Jonathan Schlefer

Keywords: History; Equality and Inequality; Income; Economic Growth; Policy; Economy; South Korea

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Research Summary

Advertising and the Economics of Attention

Using novel technologies, such as eye- and face-tracking, to gauge attentional and emotional (facial) reactions to advertising, Professor Teixeira studies how advertising effectiveness can be optimized. Through complex statistical models of consumer response, he... View Details

08 Jul 2002
Research & Ideas

How to Fashion Your New E-Business Model

the value chain framework to define the set of activities through which products and services are created and delivered to customers.6 Once activities are defined, it is then possible to analyze the economics at each step in the chain by... View Details

Keywords: by Lynda M. Applegate

25 Jul 2023
Research & Ideas

Could a Business Model Help Big Pharma Save Lives and Profit?

reasonable profits and reduced Hepatitis C, and rates of which are expected to fall by 86 percent between 2020 and 2030, according to Egypt’s Ministry of Health. This real-world example demonstrates how a business model can help Big... View Details

Keywords: by Esther Schrader; Pharmaceutical; Health

March 2019
Article

Economics of Converting Renewable Power to Hydrogen

By: Gunther Glenk and Stefan Reichelstein

The recent sharp decline in the cost of renewable energy suggests that the production of hydrogen from renewable power through a power-to-gas process might become more economical. Here we examine this alternative from the perspective of an investor who considers a... View Details

2024
Working Paper

Voting Rules, Turnout, and Economic Policies

By: Enrico Cantoni, Vincent Pons and Jérôme Schäfer

In recent years, voter ID laws and convenience voting have generated heated partisan debates. To shed light on these policy issues, we survey the recent evidence on the institutional determinants and effects of voter turnout and broaden the perspective beyond the most... View Details

Keywords: Voting; Political Elections; Policy

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2010
Working Paper

The Unbundling of Advertising Agency Services: An Economic Analysis

By: Mohammad Arzaghi, Ernst R. Berndt, James C. Davis and Alvin J. Silk

We address a longstanding puzzle surrounding the unbundling of services occurring over several decades in the U.S. advertising agency industry: What accounts for the shift from bundling to unbundling of services and the slow pace of change? Using Evans and Salinger's... View Details

Keywords: Advertising; Change; Forecasting and Prediction; Cost; Price; Analytics and Data Science; Surveys; Marketing Strategy; Media; Service Operations; Agency Theory; Mathematical Methods; Advertising Industry; United States

2023
Working Paper

Nailing Prediction: Experimental Evidence on the Value of Tools in Predictive Model Development

By: Daniel Yue, Paul Hamilton and Iavor Bojinov

Predictive model development is understudied despite its centrality in modern artificial intelligence and machine learning business applications. Although prior discussions highlight advances in methods (along the dimensions of data, computing power, and algorithms)... View Details

Keywords: Analytics and Data Science

SSRN

2012
Article

The Unbundling of Advertising Agency Services: An Economic Analysis

By: Mohammad Arzaghi, Ernst R. Berndt, James C. Davis and Alvin J. Silk

We address a puzzle surrounding the shift from bundling to unbundling of U.S. advertising agency services and the slow pace of change over several decades. We model an agency’s decision as a tradeoff between the fixed cost to the advertiser of establishing a... View Details

Keywords: Bundling; Unbundling; Advertising Agency Services; Fixed Cost; Higher Media Prices; Volume; Diversification; Advertising; Change; Advertising Industry; United States

2018
Chapter

An Integrated Model of Dynamic Problem Solving within Organizational Constraints

By: Johnathan R. Cromwell, Teresa M. Amabile and Jean-François Harvey

Book Abstract: Rapid technological change, global competition, and economic uncertainty have all contributed to organizations seeking to improve creativity and innovation. Researchers and businesses want to know what factors facilitate or inhibit creativity in a... View Details

Keywords: Organizations; Problems and Challenges; Creativity

18 Jun 2024
Research & Ideas

Central Banks Missed Inflation Red Flags. This Pricing Model Could Help.

environments.” If central banks had used economic models that account for variations in the speed of firm’s pricing decisions rather than their traditional forecasting tools, policymakers might have detected... View Details

Keywords: by Rachel Layne; Financial Services; Banking

October 2004
Article

FDI and Economic Growth: The Role of Local Financial Markets

By: Laura Alfaro, Areendam Chanda, Sebnem Kalemli-Ozcan and Selin Sayek

The purpose of this paper is to examine the various links among foreign direct investment, financial markets and growth. We model an economy with a continuum of agents indexed by their level of ability. Agents have two choices: they can work for the foreign company in... View Details

Keywords: Foreign Direct Investment; Financial Markets; Economic Growth; Cost; Wealth; Investment Return; Knowledge

March 2003
Background Note

A Short Note on the AccuFlow Excel Model

By: Jay O. Light

Describes an Excel spreadsheet workbook that facilitates the analysis of AccuFlow, Inc. View Details

Keywords: History; Analytics and Data Science; Cost of Capital; Negotiation; Capital; Business Model; Economic Systems; Machinery and Machining; Leveraged Buyouts; Business Startups; Equity