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  • 29 Sep 2009
  • First Look

First Look: September 29

indivisibility of residential real estate that prevents homeowners from deleveraging when property values decline and homeowner equity deteriorates, conspire to create a "ratchet" effect in which homeowner leverage is maintained... View Details
Keywords: Martha Lagace
  • 2009
  • Working Paper

Systemic Risk and the Refinancing Ratchet Effect

By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton
The confluence of three trends in the U.S. residential housing market—rising home prices, declining interest rates, and near-frictionless refinancing opportunities—led to vastly increased systemic risk in the financial system. Individually, each of these trends is... View Details
Keywords: Housing; Mortgages; Risk and Uncertainty; Value; Mathematical Methods; Real Estate Industry; United States
Related
  • 2009
  • Working Paper

Systemic Risk and the Refinancing Ratchet Effect

By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton
The confluence of three trends in the U.S. residential housing market-rising home prices, declining interest rates, and near-frictionless refinancing opportunities-led to vastly increased systemic risk in the financial system. Individually, each of these trends is... View Details
Keywords: Equity; Mortgages; Interest Rates; Price; Housing; Risk and Uncertainty; United States
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    Design and Analysis of Switchback Experiments

    Switchback experiments, where a firm sequentially exposes an experimental unit to random treatments, are among the most prevalent designs used in the technology sector, with applications ranging from ride-hailing platforms to online marketplaces. Although... View Details

      Winning in Emerging Markets: A Roadmap for Strategy and Execution

      Most books thus far on emerging markets are either investing-oriented, or country - or market-specific, or descriptive. No book has definitively targeted the corporate strategists who need a practical framework and assessment tools for analyzing emerging markets,... View Details

      • 2016
      • Article

      Penalized Fast Subset Scanning

      By: Skyler Speakman, Sriram Somanchi, Edward McFowland III and Daniel B. Neill
      We present the penalized fast subset scan (PFSS), a new and general framework for scalable and accurate pattern detection. PFSS enables exact and efficient identification of the most anomalous subsets of the data, as measured by a likelihood ratio scan statistic.... View Details
      Keywords: Disease Surveillance; Likelihood Ratio Statistic; Pattern Detection; Scan Statistic; Mathematical Methods
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      • Article

      Transition to Clean Technology

      By: Daron Acemoglu, Ufuk Akcigit, Douglas Hanley and William R. Kerr
      We develop a microeconomic model of endogenous growth where clean and dirty technologies compete in production and innovation, in the sense that research can be directed to either clean or dirty technologies. If dirty technologies are more advanced to start with, the... View Details
      Keywords: Technological Innovation; Entrepreneurship; Environmental Sustainability; Green Technology Industry
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        Tom Nicholas

        Tom Nicholas is William J. Abernathy Professor of Business Administration at Harvard Business School. He is British and holds a doctorate from Oxford University. His research focuses on the history of entrepreneurship, innovation and finance. His book (VC: An... View Details

        Keywords: financial services; high technology
        • 27 Aug 2009
        • Working Paper Summaries

        Measuring and Understanding Hierarchy as an Architectural Element in Industry Sectors

        Keywords: by Jianxi Luo, Daniel E. Whitney, Carliss Y. Baldwin & Christopher L. Magee; Auto
        • 05 Jun 2007
        • Working Paper Summaries

        Leading and Creating Collaboration in Decentralized Organizations

        Keywords: by Heather M. Caruso, Todd Rogers & Max Bazerman
        • Fall 2018
        • Article

        What Problems Will You Solve with Blockchain?: Before Jumping on the Bandwagon, Companies Need to Carefully Consider how Ledger Technologies Fit into their Overall Strategy

        By: Teppo Felin and Karim R. Lakhani
        Distributed ledger technologies — collectively known as blockchain — have burst onto the business scene, accompanied by a significant amount of hype.They are widely expected to disrupt existing industries and lead to the creation of new types of companies. Some of the... View Details
        Keywords: Blockchain; Technology Adoption; Strategy; Business Processes; Innovation Strategy
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          Using the Crowd as an Innovation Partner

          From Apple to Merck to Wikipedia, more and more organizations are turning to crowds for help in solving their most vexing innovation and research questions, but managers remain understandably cautious. It seems risky and even unnatural to push problems out to vast... View Details

          • 15 Oct 2009
          • Working Paper Summaries

          Mixed Source

          Keywords: by Ramon Casadesus-Masanell & Gastón Llanes; Technology
          • 2011
          • Working Paper

          The Flexible Substitution Logit: Uncovering Category Expansion and Share Impacts of Marketing Instruments

          By: Qiang Liu, Thomas J. Steenburgh and Sachin Gupta
          Different instruments are relevant for different marketing objectives (category demand expansion or market share stealing). To help brand managers make informed marketing mix decisions, it is essential that marketing mix models appropriately measure the different... View Details
          Keywords: Decision Choices and Conditions; Forecasting and Prediction; Investment; Brands and Branding; Marketing Strategy; Demand and Consumers; Mathematical Methods
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          • 09 Jun 2008
          • Lessons from the Classroom

          Monetizing IP: The Executive’s Challenge

          According to the U.S. Patent and Trademark Office, intellectual property in this country is worth more than $5 trillion—about twice the amount of the current federal budget. The question: Are companies taking advantage of this value? Not... View Details
          Keywords: by Sean Silverthorne; Video Game; Web Services
          • 05 Dec 2023
          • Research & Ideas

          Are Virtual Tours Still Worth It in Real Estate? Evidence from 75,000 Home Sales

          tours. When your house is in a Black and Hispanic neighborhood or one with lower average household income, consider including a virtual tour as part of your listing. That’s because virtual tours could mitigate greater uncertainty about View Details
          Keywords: by Rachel Layne; Real Estate
          • 18 Dec 2018
          • First Look

          New Research and Ideas, December 18, 2018

          Effective Spaces Twenty-four-year old Ritesh Agarwal, founder and CEO of India-based online hotel branding network OYO Rooms, has tackled the issue of unreliability in India's highly fragmented budget hotel industry. In 2018, OYO branded 8,500 View Details
          Keywords: Dina Gerdeman
          • March 2008
          • Article

          Testing a Purportedly More Learnable Auction Mechanism

          We describe an auction mechanism in the class of Groves mechanisms that has received attention in the computer science literature because of its theoretical property of being more "learnable" than the standard second price auction mechanism. We bring this mechanism,... View Details
          Keywords: Market Design; Auctions; Learning; Economics
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          • 15 Dec 2016
          • HBS Seminar

          Joel Isaac, University of Cambridge

          • Web

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          disclose this information under special circumstances, including disclosures required by law, court order or circumstances under which disclosure, in the sole discretion of Harvard Business School, is necessary to protect the legal rights, including the intellectual... View Details