Publications
Publications
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- All HBS Web
(1,130)
- Faculty Publications (175)
- 2007
- Working Paper
Mental Accounting and Small Windfalls: Evidence from an Online Grocer
By: Katherine L. Milkman, John Beshears, Todd Rogers and Max H. Bazerman
We study the effect of small windfalls on consumer spending decisions by examining the purchasing behavior of a sample of online grocery shoppers over the course of a year. We compare the purchases customers make when redeeming a $10-off coupon they received from their... View Details
- Article
Reputation When Threats and Transfers Are Available
By: Ernesto Dal Bo, Pedro Dal Bo and Rafael Di Tella
We present a model where a long-run player is allowed to use both money transfers and threats to influence the decisions of a sequence of short-run players. We show that threats might be used credibly (even in arbitrarily short repeated games) by a long-lived player... View Details
- 2007
- Chapter
Negotiation Analysis: Between Decisions and Games
- July 2007
- Article
A Two-Person Game of Information Transmission
By: Jerry R. Green and Nancy L. Stokey
We consider a statistical decision problem faced by a two player organization whose members may not
agree on outcome evaluations and prior probabilities. One player is specialized in gathering information
and transmitting it to the other, who takes the decision. This... View Details
- 2007
- Working Paper
Correlated Equilibrium and Nash Equilibrium as an Observer's Assessment of the Game
By: John Hillas, Elon Kohlberg and John W. Pratt
Noncooperative games are examined from the point of view of an outside observer who believes that the players are rational and that they know at least as much as the observer. The observer is assumed to be able to observe many instances of the play of the game; these... View Details
- 2007
- Chapter
Behavioral Corporate Finance: A Survey
By: Malcolm Baker, Richard Ruback and Jeffrey Wurgler
Research in behavioral corporate finance takes two distinct approaches. The first emphasizes that investors are less than fully rational. It views managerial financing and investment decisions as rational responses to securities market mispricing. The second approach... View Details
- 2007
- Working Paper
I'll Have the Ice Cream Soon and the Vegetables Later: A Study of Online Grocery Purchases and Order Lead Time
By: Katherine L. Milkman, Todd Rogers and Max H. Bazerman
How do decisions made for tomorrow or two days in the future differ from decisions made for several days in the future? We use data from an online grocer to address this question. In general, we find that as the delay between order completion and delivery increases,... View Details
- Article
Investor Sentiment in the Stock Market
By: Malcolm Baker and Jeffrey Wurgler
We examine how investor sentiment affects the cross-section of stock returns. Theory predicts that a broad wave of sentiment will disproportionately affect stocks whose valuations are highly subjective and are difficult to arbitrage. We test this prediction by... View Details
- November 2006 (Revised November 2009)
- Course Overview Note
Introduction to Competitive Dynamics: Strategy and Tactics
By: Dennis A. Yao
Provides an overview of the course Competitive Dynamics: Strategy and Tactics and discusses challenges facing those who wish to use game theory to assist in strategic and tactical decision making. View Details
- August 2006
- Article
Investor Sentiment and the Cross Section of Stock Returns
By: Malcolm Baker and Jeffrey Wurgler
We examine how investor sentiment affects the cross-section of stock returns. Theory predicts that a broad wave of sentiment will disproportionately affect stocks whose valuations are highly subjective and are difficult to arbitrage. We test this prediction by... View Details
- 2006
- Chapter
A Decision Perspective on Organizations: Social Cognition, Behavioral Decision Theory and the Psychological Links to Micro and Macro Organizational Behaviour
By: M. A. Neale, A. E. Tenbrunsel, T. Galvin and M. H. Bazerman
- April 2006
- Module Note
Asset Allocation: A Half-Course Module Note
By: Luis M. Viceira
Provides an overview of the main ideas and structure of a 15-session module on long-term asset allocation designed for MBA graduate students and investment professionals. This module is taught as part of a full-length, 30-session elective class on investment management... View Details
- April 2006
- Teaching Note
The Capital Structure Decision - Underlying Theory (TN)
Keywords: Capital Structure
- January 2006
- Article
Lay Theories about Racists: What Constitutes Racism (and What Doesn't).
By: Samuel R. Sommers and Michael I. Norton
- 2006
- Conference Paper
Modeling Repeated Play of the Prisoners' Dilemma with Reinforcement Learning over an Enriched Strategy Set
By: A. E. Roth and Ido Erev
- 2006
- Working Paper
The Limits of Authority: Motivation versus Coordination
This paper studies the effects of open disagreement on motivation and coordination. It shows how, in the presence of differing priors, motivation and coordination impose conflicting demands on the allocation of authority, leading to a trade-off between the... View Details
- 2005
- Working Paper
Investor Sentiment and the Cross-Section of Stock Returns
By: Malcolm Baker and Jeffrey Wurgler
We examine how investor sentiment affects the cross-section of stock returns. Theory predicts that a broad wave of sentiment will disproportionately affect stocks whose valuations are highly subjective and are difficult to arbitrage. We test this prediction by studying... View Details
- March 2005
- Article
Short- and Long-term Demand Curves for Stocks: Theory and Evidence on the Dynamics of Arbitrage
By: Robin Greenwood
I develop a framework to analyze demand curves for multiple risky securities at extended horizons in a setting with limits-to-arbitrage. Following an unexpected change in uninformed investor demand for several assets, I predict returns of each security to be... View Details
- February 2005 (Revised November 2016)
- Background Note
Forecasting the Adoption of a New Product
By: Elie Ofek
Provides tools and methodologies that allow forecasting demand for innovative new products. Highlights the Bass model—the theory behind it and ways to determine its parameters. Provides a detailed example of how to use the Bass model to forecast demand for satellite... View Details
- September 2004
- Article
Trust in Agency
Existing models of the principal-agent relationship assume the agent works only under extrinsic incentives. However, many observed agency contracts take the form of a fixed payment. For such contracts to succeed, the principal must trust the agent to work in the... View Details