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- All HBS Web (1,027)
- Faculty Publications (348)
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- 2024
- Working Paper
How Inflation Expectations De-Anchor: The Role of Selective Memory Cues
By: Nicola Gennaioli, Marta Leva, Raphael Schoenle and Andrei Shleifer
In a model of memory and selective recall, household inflation expectations remain rigid when inflation is anchored but exhibit sharp instability during inflation surges, as similarity prompts retrieval of forgotten high-inflation experiences. Using data from the New... View Details
Gennaioli, Nicola, Marta Leva, Raphael Schoenle, and Andrei Shleifer. "How Inflation Expectations De-Anchor: The Role of Selective Memory Cues." NBER Working Paper Series, No. 32633, June 2024.
- Forthcoming
- Article
An AI Method to Score Celebrity Visual Potential from Human Faces
By: Flora Feng, Shunyuan Zhang, Xiao Liu, Kannan Srinivasan and Cait Lamberton
It has long been a mantra of marketing practice that, particularly in low-involvement situations, spokespeople should be physically attractive. This paper suggests there is a higher probability of gaining fame and influence (i.e., celebrity potential) than is captured... View Details
Feng, Flora, Shunyuan Zhang, Xiao Liu, Kannan Srinivasan, and Cait Lamberton. "An AI Method to Score Celebrity Visual Potential from Human Faces." Journal of Marketing Research (JMR) (forthcoming). (Pre-published online February 12, 2025.)
- 2024
- Article
Learning Under Random Distributional Shifts
By: Kirk Bansak, Elisabeth Paulson and Dominik Rothenhäusler
Algorithmic assignment of refugees and asylum seekers to locations within host
countries has gained attention in recent years, with implementations in the U.S.
and Switzerland. These approaches use data on past arrivals to generate machine
learning models that can... View Details
Bansak, Kirk, Elisabeth Paulson, and Dominik Rothenhäusler. "Learning Under Random Distributional Shifts." Proceedings of the International Conference on Artificial Intelligence and Statistics (AISTATS) 27th (2024).
- 2024
- Working Paper
Pitfalls of Demographic Forecasts of U.S. Elections
By: Richard Calvo, Vincent Pons and Jesse M. Shapiro
Many observers have forecast large partisan shifts in the US electorate based on demographic trends. Such forecasts are appealing because demographic trends are often predictable even over long horizons. We backtest demographic forecasts using data on US elections... View Details
Keywords: Mathematical Methods; Voting; Political Elections; Trends; Forecasting and Prediction; Demographics
Calvo, Richard, Vincent Pons, and Jesse M. Shapiro. "Pitfalls of Demographic Forecasts of U.S. Elections." NBER Working Paper Series, No. 33016, October 2024.
- 2024
- Working Paper
Consumer Inertia and Market Power
By: Alexander MacKay and Marc Remer
We study the pricing decisions of firms in the presence of consumer inertia. Inertia, which can arise from habit formation, brand loyalty, and switching costs, generates dynamic pricing incentives. These incentives mediate the impact of competition on market power in... View Details
Keywords: Consumer Inertia; Market Power; Dynamic Competition; Demand Estimation; Consumer Behavior; Markets; Performance; Competition; Price
MacKay, Alexander, and Marc Remer. "Consumer Inertia and Market Power." Harvard Business School Working Paper, No. 19-111, April 2019. (Revised January 2024. Direct download.)
- February 2024
- Article
Representation and Extrapolation: Evidence from Clinical Trials
By: Marcella Alsan, Maya Durvasula, Harsh Gupta, Joshua Schwartzstein and Heidi L. Williams
This article examines the consequences and causes of low enrollment of Black patients in clinical
trials. We develop a simple model of similarity-based extrapolation that predicts that evidence is
more relevant for decision-making by physicians and patients when it... View Details
Keywords: Representation; Racial Disparity; Health Testing and Trials; Race; Equality and Inequality; Innovation and Invention; Pharmaceutical Industry
Alsan, Marcella, Maya Durvasula, Harsh Gupta, Joshua Schwartzstein, and Heidi L. Williams. "Representation and Extrapolation: Evidence from Clinical Trials." Quarterly Journal of Economics 139, no. 1 (February 2024): 575–635.
- Research Summary
Overview
Paul is primarily interested in studying explainable machine learning (ML), digital transformation, and data science operations. He works on research that explores how stakeholders within organizations can use machine learning to make better decisions. In particular,... View Details
- Article
Ensembles of Overfit and Overconfident Forecasts
By: Y. Grushka-Cockayne, V.R.R. Jose and K. C. Lichtendahl
Firms today average forecasts collected from multiple experts and models. Because of cognitive biases, strategic incentives, or the structure of machine-learning algorithms, these forecasts are often overfit to sample data and are overconfident. Little is known about... View Details
Grushka-Cockayne, Y., V.R.R. Jose, and K. C. Lichtendahl. "Ensembles of Overfit and Overconfident Forecasts." Management Science 63, no. 4 (April 2017): 1110–1130.
- Research Summary
Social Networks and Unraveling in Labor Markets
This paper develops a model of local unraveling (or early hiring) in entry-level labor markets. Information about workers' productivity is revealed over time and transmitted credibly via a two-sided network connecting firms and workers. While employment starts only... View Details
- Article
Soul and Machine (Learning)
By: Davide Proserpio, John R. Hauser, Xiao Liu, Tomomichi Amano, Burnap Alex, Tong Guo, Dokyun (DK) Lee, Randall Lewis, Kanishka Misra, Eric Schwarz, Artem Timoshenko, Lilei Xu and Hema Yoganarasimhan
Machine learning is bringing us self-driving cars, medical diagnoses, and language translation, but how can machine learning help marketers improve marketing decisions? Machine learning models predict extremely well, are scalable to “big data,” and are a natural fit to... View Details
Keywords: Machine Learning; Marketing Applications; Knowledge; Technological Innovation; Core Relationships; Marketing; Applications and Software
Proserpio, Davide, John R. Hauser, Xiao Liu, Tomomichi Amano, Burnap Alex, Tong Guo, Dokyun (DK) Lee, Randall Lewis, Kanishka Misra, Eric Schwarz, Artem Timoshenko, Lilei Xu, and Hema Yoganarasimhan. "Soul and Machine (Learning)." Marketing Letters 31, no. 4 (December 2020): 393–404.
- 2023
- Article
Verifiable Feature Attributions: A Bridge between Post Hoc Explainability and Inherent Interpretability
By: Usha Bhalla, Suraj Srinivas and Himabindu Lakkaraju
With the increased deployment of machine learning models in various real-world applications, researchers and practitioners alike have emphasized the need for explanations of model behaviour. To this end, two broad strategies have been outlined in prior literature to... View Details
Bhalla, Usha, Suraj Srinivas, and Himabindu Lakkaraju. "Verifiable Feature Attributions: A Bridge between Post Hoc Explainability and Inherent Interpretability." Advances in Neural Information Processing Systems (NeurIPS) (2023).
- January 2008 (Revised July 2009)
- Case
Forecasting the Great Depression
What is proper role of professional economic forecasting in financial decision making? The case presents excerpts from three leading economic forecasters on the eve of, and just after, the stock market crash of October 1929. The first set of excerpts is from Roger... View Details
Keywords: History; Mathematical Methods; Personal Development and Career; Forecasting and Prediction; Financial Crisis
Friedman, Walter A. "Forecasting the Great Depression." Harvard Business School Case 708-046, January 2008. (Revised July 2009.)
- Article
The Effect of Dividends on Consumption
By: Malcolm Baker, Stefan Nagel and Jeffrey Wurgler
Classical models predict that the division of stock returns into dividends and capital appreciation does not affect investor consumption patterns, while mental accounting and other economic frictions predict that investors have a higher propensity to consume from... View Details
Keywords: Investment; Investment Return; Economics; Stocks; Capital; Business Earnings; Investment Portfolio; Investment Funds; Cost; Saving
Baker, Malcolm, Stefan Nagel, and Jeffrey Wurgler. "The Effect of Dividends on Consumption." Brookings Papers on Economic Activity, no. 1 (2007): 277–291.
- 2008
- Working Paper
Attitude-Dependent Altruism, Turnout and Voting
By: Julio J. Rotemberg
This paper presents a goal-oriented model of political participation based on two psychological assumptions. The first is that people are more altruistic towards individuals that agree with them and the second is that people's well-being rises when other people share... View Details
Rotemberg, Julio J. "Attitude-Dependent Altruism, Turnout and Voting." NBER Working Paper Series, No. 14302, September 2008.
- 2008
- Chapter
Public Action for Public Goods: Theory and Evidence
By: Abhijit Banerjee, Lakshmi Iyer and Rohini Somanathan
This chapter focuses on the relationship between public action and access to public goods. It begins by developing a simple model of collective action which is intended to capture the various mechanisms that are discussed in the theoretical literature on collective... View Details
- 2006
- Working Paper
The Effect of Dividends on Consumption
By: Malcolm Baker, Stefan Nagel and Jeffrey Wurgler
Classical models predict that the division of stock returns into dividends and capital appreciation does not affect investor consumption patterns, while mental accounting and other economic frictions predict that investors have a higher propensity to consume from stock... View Details
Baker, Malcolm, Stefan Nagel, and Jeffrey Wurgler. "The Effect of Dividends on Consumption." NBER Working Paper Series, No. 12288, June 2006. (First Draft in 2005.)
- 2014
- Working Paper
Bio-Piracy or Prospering Together? Fuzzy Set and Qualitative Analysis of Herbal Patenting by Firms
By: Prithwiraj Choudhury and Tarun Khanna
Since the 1990s, several Western firms have filed patents based on medicinal herbs from emerging markets, evoking protests from local stakeholders against 'bio-piracy'. We explore conditions under which firms and local stakeholders share rents from such patents. Our... View Details
Keywords: Rents From New Technology; Local Stakeholders; Herbal Patents; QCA; Fuzzy Set Analysis; Qualitative Case Studies; Plant-Based Agribusiness; Patents; Emerging Markets; Health Care and Treatment; Business and Stakeholder Relations; Cross-Cultural and Cross-Border Issues; Agriculture and Agribusiness Industry; Pharmaceutical Industry
Choudhury, Prithwiraj, and Tarun Khanna. "Bio-Piracy or Prospering Together? Fuzzy Set and Qualitative Analysis of Herbal Patenting by Firms." Harvard Business School Working Paper, No. 14-081, February 2014.
- 2021
- Working Paper
An Empirical Study of Time Allotment and Delays in E-commerce Delivery
By: M. Balakrishnan, MoonSoo Choi and Natalie Epstein
Problem definition: We study how having more time allotted to deliver an order affects the speed of the delivery process. Furthermore, we seek to predict orders that are likely to be delayed early in the delivery process so that actions can be taken to avoid delays.... View Details
Keywords: Logistics; E-commerce; Mathematical Methods; AI and Machine Learning; Performance Productivity
Balakrishnan, M., MoonSoo Choi, and Natalie Epstein. "An Empirical Study of Time Allotment and Delays in E-commerce Delivery." Working Paper, December 2021.
- 2017
- Working Paper
Management as a Technology?
By: Nicholas Bloom, Raffaella Sadun and John Van Reenen
Are some management practices akin to a technology that can explain firm and national productivity, or do they simply reflect contingent management styles? We collect data on core management practices from over 11,000 firms in 34 countries. We find large cross-country... View Details
Keywords: Management Practices; Productivity; Competition; Management Practices and Processes; Performance Productivity
Bloom, Nicholas, Raffaella Sadun, and John Van Reenen. "Management as a Technology?" Harvard Business School Working Paper, No. 16-133, June 2016. (Revised October 2017.)
- Research Summary
Overview
Everett is currently engaged in the following research projects:
- Are the Best Junior Officers Getting Out of the US Army? (ongoing)
- What Predicts Success at the United States Military Academy Preparatory School? (ongoing)
- Follow the Leader- What Is the Effect... View Details