Publications

SSRN

2019
Working Paper

Judgment Aggregation in Creative Production: Evidence from the Movie Industry

By: Hong Luo, Jeffrey T. Macher and Michael Wahlen

This paper studies a novel, light-touch approach to aggregate judgment from a large number of industry experts on ideas that they encounter in their normal course of business. Our context is the movie industry, in which customer appeal is difficult to predict and... View Details

Keywords: Judgment Aggregation; Creativity; Film Entertainment; Judgments; Motion Pictures and Video Industry

SSRN

August 2022
Case

Air Wars: Deregulating the U.S. Airline Industry

By: Tom Nicholas and James Weber

In the early decades of the twentieth century, the U.S. government assisted in the development of an airline industry by subsidizing the delivery of mail and allowing mail carriers to also fly passengers. Because the government awarded mail routes to the lowest... View Details

23 Jun 2023
HBS Case

This Company Lets Employees Take Charge—Even with Life and Death Decisions

example for companies struggling to re-engage “quiet quitters” while balancing rising costs and mixed economic signals. The company began in the Netherlands in 2006 as an antidote to what the founders viewed as innovation-crushing managed... View Details

Keywords: by Annelena Lobb; Health

July 1984 (Revised September 1986)
Case

CML Group, Inc.: Going Public (A)

By: William A. Sahlman

Describes a series of decisions confronting Charles Leighton, co-founder and chairman of the CML Group. CML is a successful participant in the leisure time industry with two lines of business: specialty retailing and recreational consumer products. The key issues in... View Details

Keywords: Valuation; Going Public; Strategy; Business or Company Management; Cost vs Benefits; SWOT Analysis; Investment Banking; Financing and Loans; Planning; Corporate Finance; Retail Industry; Consumer Products Industry

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05 Jul 2023
What Do You Think?

How Are Middle Managers Falling Down Most Often on Employee Inclusion?

asked to consider its relationship to diversity, inclusion, and belonging at work.” She reminds us: “A recent tidal wave of harassment claims highlights the costs of failing to create a psychologically safe workplace for women.” May it... View Details

Keywords: by James Heskett

December 2010
Article

Nominal versus Indexed Debt: A Quantitative Horse Race

By: Laura Alfaro and Fabio Kanczuk

The main arguments in favor of and against nominal and indexed debt are the incentive to default through inflation versus hedging against unforeseen shocks. We model and calibrate these arguments to assess their quantitative importance. We use a dynamic equilibrium... View Details

Keywords: Borrowing and Debt; Motivation and Incentives; Inflation and Deflation; System Shocks; Taxation; Risk and Uncertainty; Framework; Problems and Challenges; Interest Rates; Cost; Developing Countries and Economies; Service Operations

Web

Students on the Job Market - Doctoral

Experiment There are concerns that managers repurchase shares myopically to benefit themselves at the costs of shareholders and society. Due to these concerns, the SEC adopted its 2023 Share Repurchase Disclosure Modernization Rules (the... View Details

March 2001 (Revised April 2001)
Case

Montefiore Medical Center

By: Robert S. Kaplan and Syeda Noorein Inamdar

A large urban medical center implements the Balanced Scorecard management tool. Elaine Brennan, senior VP of operations, has reorganized a highly functional health care organization into decentralized patient care centers and support units. Having recently endured the... View Details

Keywords: Balanced Scorecard; Health Care and Treatment; Management Systems; Organizational Structure; Corporate Strategy; Leadership Development; Growth and Development Strategy; Financial Reporting; Budgets and Budgeting; Cost Accounting; Corporate Accountability; Communication; Health Industry

Web

Business, Government & the International Economy - Faculty & Research

welfare-state expansion. My findings help explain and describe the contingencies underlying the political consequences of globalization. February 13, 2025 Article Research: The Costs of Circumventing Tariffs By: Jaya Y. Wen , Ebehi Iyoha... View Details

2011
Working Paper

Do Not Trash the Incentive! Monetary Incentives and Waste Sorting

By: Alessandro Bucciol, Natalia Montinari and Marco Piovesan

This paper examines whether monetary incentives are an effective tool for increasing domestic waste sorting. We exploit the exogenous variation in the pricing systems experienced during the 1999-2008 decade by the 95 municipalities in the district of Treviso (Italy).... View Details

Keywords: Household; Cost Management; Consumer Behavior; Wastes and Waste Processing; Motivation and Incentives; Public Administration Industry; Italy

Research Summary

Marketing and Competition in Pharmaceutical Markets

In his research on pharmaceutical markets, Professor King explores how marketing and product differentiation affect competition among firms in the prescription market for anti-ulcer drugs. Four main results emerge from an analysis of antiulcer drug sales from 1977 to... View Details

August 1970
Case

Hawthorne Plastics

An "imperfect tester" problem involving the decision of how to produce batches of plastic strapping, given uncertainty about the length of the molecular chain in the raw material. A decision on whether to test the raw material and a choice of production process must be... View Details

Keywords: Decision Making; Mathematical Methods

April 2024
Article

Pay-As-You-Go Insurance: Experimental Evidence on Consumer Demand and Behavior

By: Raymond Kluender

Pay-as-you-go contracts reduce minimum purchase requirements which may increase market participation. We randomize the introduction and price(s) of a novel pay-as-you-go contract to the California auto insurance market where 17 percent of drivers are uninsured. The... View Details

Keywords: Contracts; Consumer Behavior; Price; Personal Finance; Insurance Industry; California

October 2019
Article

Does Political Uncertainty Increase External Financing Costs? Measuring the Electoral Premium in Syndicated Lending

By: Olivia S. Kim

This article investigates the impact of political uncertainty on contractual lending terms using a large sample of syndicated loans and a within-firm estimation approach to achieve identification. Firms pay 7 basis points (bps) more on loans originated when their... View Details

Keywords: Risk and Uncertainty; Political Elections; Financing and Loans; Developing Countries and Economies

2021
Working Paper

Financial Flexibility and Corporate Employment

By: Rebecca Lester, Ethan Rouen and Braden Williams

We study the role of financial flexibility on COVID-19 employment actions. Using daily data from March through May 2020 for 354 of the largest U.S. employers, we find that firms facing a negative demand shock were 28.8 percentage points more likely to reduce their... View Details

Keywords: Financial Flexibility; COVID-19; Pandemic; Employment; Health Pandemics; System Shocks; Finance

SSRN

Article

The Asymmetric Experience of Positive and Negative Economic Growth: Global Evidence Using Subjective Well-being Data

By: Jan-Emmanuel De Neve, George Ward, Femke De Keulenaer, Bert Van Landeghem, Georgios Kavetsos and Michael I. Norton

Are individuals more sensitive to losses than gains in terms of economic growth? We find that measures of subjective well-being are more than twice as sensitive to negative as compared to positive economic growth. We use Gallup World Poll data from over 150 countries,... View Details

Keywords: Economic Growth; Business Cycles; Welfare; Perception; Global Range

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June 2016 (Revised December 2017)
Case

The Cheese and the Oligarchs: The Politics, the Media, and Israel's Dream of a Start-Up Nation

By: Rafael Di Tella and Christine Snively

Israel enjoyed the highest concentration of technology start-ups in the world per capita. Despite regional instability, the country maintained strong economic growth and was considered a high-tech powerhouse. But not all Israelis benefited. Between the 1980s and 2010s,... View Details

Keywords: Entrepreneurship; Information Technology; Business Conglomerates; Business Startups; Israel

2014
Teaching Note

Zenglibao: An Internet Money Market Fund Run By Tianhong Asset Management Co., LTD. (TN)

By: F. Warren McFarlan, Yongjun Jin and Xiaohui Li

Mobile Internet has imposed an increasing impact on traditional finance. Firstly, some financial business modules can be operated via mobile Internet, and the corresponding transaction cost is greatly reduced. For example, payment by traditional bank draft is replaced... View Details

Keywords: Internet; China; Mobile Devices; Finance; Internet and the Web; Mobile and Wireless Technology; China