Publications

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26 Nov 2012
News

Heavy technology: The process of technological diffusion over time and space

2023
Working Paper

Spatial Mobility, Economic Opportunity, and Crime

By: Gaurav Khanna, Carlos Medina, Anant Nyshadham, Daniel Ramos-Menchelli, Jorge Tamayo and Audrey Tiew

Neighborhoods are strong determinants of both economic opportunity and criminal activity. Does improving connectedness between segregated and unequal parts of a city predominantly import opportunity or export crime? We use a spatial general equilibrium framework to... View Details

Keywords: Urban Development; Transportation Networks; Crime and Corruption; Transportation Industry; Medellín; Colombia; South America

This paper proposes a new approach to social cost-benefit analysis using a model in which a benevolent government chooses risky projects in the presence of market failures and tax distortions. The government internalizes market failures and therefore perceives project... View Details

Research Summary

Overview

Downstream businesses that utilize global suppliers frequently use auditing programs to monitor their suppliers’ working conditions and are often deployed to address reputational concerns associated with procuring from unregulated suppliers. Despite their widespread... View Details

Keywords: Audit Quality; Remote Work; Outsourcing; Econometric Analysis; Switching Costs; Service Operations; Performance Effectiveness; Retail Industry; Service Industry

24 Mar 2010
Working Paper Summaries

Fiduciary Duties and Equity-Debtholder Conflicts

Keywords: by Bo Becker & Per Stromberg

TeachingInterests

Interpretability and Explainability in Machine Learning

By: Himabindu Lakkaraju

As machine learning models are increasingly being employed to aid decision makers in high-stakes settings such as healthcare and criminal justice, it is important to ensure that the decision makers correctly understand and consequent trust the functionality of these... View Details

1994
Chapter

International Experiences with Securities Transaction Taxes

By: K. A. Froot and J. Campbell

Keywords: Corporation Taxation; Interest Deductibility; Cost Of Capital; Corporate Finance; Accounting; Borrowing and Debt; Financing and Loans; Interest Rates

Article

Audit Personnel Salaries and Audit Quality

By: Jeffrey L. Hoopes, Kenneth J. Merkley, Joseph Pacelli and Joseph H. Schroeder

This study examines the relation between audit personnel salaries and office-level audit quality. We measure audit personnel salaries at the associate, senior, and manager ranks for Big 4 audit offices from 2004 to 2013, using unique individual-auditor-level data... View Details

Keywords: Audit Personnel Salary; Audit Quality; Salary Determinants; Audit Fees; Accounting Audits; Quality; Wages

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November–December 2014
Article

Fairness and Efficiency in Multiportfolio Optimization

By: Dan A. Iancu and Nikolaos Trichakis

We deal with the problem faced by a portfolio manager in charge of multiple accounts. We argue that because of market impact costs, this setting differs in several subtle ways from the classical (single account) case, with the key distinction being that the performance... View Details

2014
Article

Psychological Safety: The History, Renaissance, and Future of an Interpersonal Construct

By: Amy C. Edmondson and Zhike Lei

Psychological safety describes people's perceptions of the consequences of taking interpersonal risks in a particular context such as a workplace. First explored by pioneering organizational scholars in the 1960s, psychological safety experienced a renaissance starting... View Details

Keywords: Risk and Uncertainty; Safety; Groups and Teams

January 2008 (Revised May 2008)
Case

Subprime Meltdown: American Housing and Global Financial Turmoil

By: Julio Rotemberg

This case focuses on the financial difficulties faced in the U.S. from August to December 2006 as well as their roots in subprime lending. After briefly discussing how mortgages were structured and traded in the pre-1990 period, it describes subprime mortgage lending,... View Details

Keywords: Financial Crisis; Insolvency and Bankruptcy; Central Banking; Financial Markets; Mortgages; Governing Rules, Regulations, and Reforms; Policy; United States

Educators

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September 2020 (Revised July 2022)
Technical Note

Algorithmic Bias in Marketing

By: Ayelet Israeli and Eva Ascarza

This note focuses on algorithmic bias in marketing. First, it presents a variety of marketing examples in which algorithmic bias may occur. The examples are organized around the 4 P’s of marketing – promotion, price, place and product—characterizing the marketing... View Details

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15 Jul 2010
Working Paper Summaries

Trade Policy and Firm Boundaries

Keywords: by Laura Alfaro, Paola Conconi, Harald Fadinger & Andrew F. Newman

Article

Regulation and UK Retailing Productivity: Evidence from Microdata

By: Jonathan Haskel and Raffaella Sadun

We explore the effects of planning regulation on the UK retail sector between 1997 and 2003 using micro-data from the UK census. We document a shift to smaller shops following a 1996 regulatory change that increased the costs of opening large stores. Our analysis... View Details

Keywords: Governing Rules, Regulations, and Reforms; Performance Productivity; Growth and Development; Economic Slowdown and Stagnation; Management Analysis, Tools, and Techniques; Change; Cost; Retail Industry; United Kingdom

2024
Working Paper

What Is Newsworthy? Theory and Evidence

By: Luis Armona, Matthew Gentzkow, Emir Kamenica and Jesse M. Shapiro

We study newsworthiness in theory and practice. We focus on situations in which a news outlet observes the realization of a state of the world and must decide whether to report the realization to a consumer who pays an opportunity cost to consume the report. The... View Details

Keywords: News; Mathematical Methods; Prejudice and Bias; Media and Broadcasting Industry

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12 Apr 2022
Book

Racism, Colonialism, and Britain's Legacy of Violence

Britain’s 20th century empire was the largest in human history, with a quarter of the world’s land and nearly 700 million people. Yet the empire drew its strength from violence. That’s the conclusion Harvard Business School Professor Caroline Elkins draws in her new... View Details

Keywords: by Avery Forman

24 Feb 2014
Working Paper Summaries

Integrated Reporting and Investor Clientele

Keywords: by George Serafeim; Accounting

Article

Traveling Agents: Political Change and Bureaucratic Turnover in India

By: Lakshmi Iyer and Anandi Mani

We develop a framework to empirically examine how politicians with electoral pressures control bureaucrats with career concerns as well as the consequences for bureaucrats' career investments. Unique micro-level data on Indian bureaucrats support our key predictions.... View Details

Keywords: Framework; Government and Politics; Investment; Competency and Skills; Personal Development and Career; Rank and Position; Forecasting and Prediction; India

April 2011
Article

Institutional Tax Clienteles and Payout Policy

By: Mihir Desai and Li Jin

This paper employs heterogeneity in institutional shareholder tax characteristics to identify the relation between firm payout policy and tax incentives. Analysis of a panel of firms matched with the tax characteristics of the clients of their institutional... View Details

Keywords: Institutional Investors; Clienteles; Payout Policy; Private Equity; Investment; Taxation; Ownership Stake; Business and Shareholder Relations