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- Article
No Evidence for an Effect of Testosterone Administration on Delay Discounting in Male University Students
By: Georgia Rada Ortner, Matthias Wibral, Anke Becker, Thomas Dohmen, Dietrich Klingmüller, Armin Falk and Bernd Weber
Intertemporal choices between a smaller sooner and a larger delayed reward are one of the most important types of decisions humans face in their everyday life. The degree to which individuals discount delayed rewards correlates with impulsiveness. Steep delay... View Details
Keywords: Delay Discounting; Impulsiveness; Intertemporal Choice; Testosterone; Decision Making; Behavior; Personal Characteristics
Rada Ortner, Georgia, Matthias Wibral, Anke Becker, Thomas Dohmen, Dietrich Klingmüller, Armin Falk, and Bernd Weber. "No Evidence for an Effect of Testosterone Administration on Delay Discounting in Male University Students." Psychoneuroendocrinology 38, no. 9 (September 2013): 1814–1818.
- 2023
- Working Paper
Complexity and Hyperbolic Discounting
By: Benjamin Enke, Thomas Graeber and Ryan Oprea
A large literature shows that people discount financial rewards hyperbolically instead of exponentially. While discounting of money has been questioned as a measure of time preferences, it continues to be highly relevant in empirical practice and predicts a wide range... View Details
Keywords: Hyperbolic Discounting; Present Bias; Bounded Rationality; Cognitive Uncertainty; Behavioral Finance
Enke, Benjamin, Thomas Graeber, and Ryan Oprea. "Complexity and Hyperbolic Discounting." Harvard Business School Working Paper, No. 24-048, February 2024.
- December 2018
- Article
Cashback is Cash Forward: Delaying a Discount to Entice Future Spending
By: Prasad Vana, Anja Lambrecht and Marco Bertini
Vana, Prasad, Anja Lambrecht, and Marco Bertini. "Cashback is Cash Forward: Delaying a Discount to Entice Future Spending." Journal of Marketing Research (JMR) 55, no. 6 (December 2018): 852–868.
- 2005
- Article
Early Decisions: A Regulatory Framework
By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
We describe a regulatory framework that helps consumers who have difficulty sticking to their own long-run plans. Early Decision regulations help long-run preferences prevail by allowing consumers to partially commit to their long-run goals, making it harder for a... View Details
Beshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian. "Early Decisions: A Regulatory Framework." Swedish Economic Policy Review 12, no. 2 (2005): 41–60.
- 14 Dec 2007
- Op-Ed
When Your Product Becomes a Commodity
speed from launch to maturity is faster than ever before. Marketers can do three things to delay the inevitable forces of commoditization. Innovate. A new product that better meets consumer needs, even an upgrade of an existing product,... View Details
Keywords: by John Quelch
- 2023
- Working Paper
Cognitive Uncertainty in Intertemporal Choice
By: Benjamin Enke and Thomas Graeber
This paper studies the relevance of cognitive uncertainty – subjective uncertainty over one's utility-maximizing action – for understanding and predicting intertemporal choice. The main idea is that when people are cognitively noisy, such as when a decision is complex,... View Details
Keywords: Cognitive Uncertainty; Intertemporal Choice; Cognition and Thinking; Complexity; Decision Choices and Conditions
Enke, Benjamin, and Thomas Graeber. "Cognitive Uncertainty in Intertemporal Choice." NBER Working Paper Series, No. 29577, December 2021. (R&R at The Quarterly Journal of Economics.)
- October 2001
- Exercise
Liability Problems
By: Robert S. Kaplan
This case provides three examples of the recognition and measurement of liabilities. The first focuses on recognizing when employees have rendered services for which future period benefits have been earned, that is, whether unused vacation, sick, and personal days at... View Details
Keywords: Cash; Annuities; Interest Rates; Compensation and Benefits; Employees; Wages; Problems and Challenges; Value
Kaplan, Robert S. "Liability Problems." Harvard Business School Exercise 102-035, October 2001.
- 2024
- Working Paper
Fire Sales of Safe Assets
By: Gabor Pinter, Emil Siriwardane and Danny Walker
We use trade-level data to study price pressure effects in the UK gilt market from September to October 2022. During this period, forced sales by liability-driven investment funds (LDIs) led to price discounts on the order of 10%, accounting for roughly half the total... View Details
Pinter, Gabor, Emil Siriwardane, and Danny Walker. "Fire Sales of Safe Assets." Harvard Business School Working Paper, No. 25-015, September 2024.
- 24 Mar 2008
- Research & Ideas
Reducing Risk with Online Advertising
But even something as simple as how quickly a supplier is paid could be an important strategic decision. Paying more quickly might offer a benefit sometimes—consider a cash-strapped supplier that really needs the money and will offer a big View Details
- 2020
- Working Paper
Targeting for Long-Term Outcomes
By: Jeremy Yang, Dean Eckles, Paramveer Dhillon and Sinan Aral
Decision makers often want to target interventions so as to maximize an outcome that is observed only in the long term. This typically requires delaying decisions until the outcome is observed or relying on simple short-term proxies for the long-term outcome. Here we... View Details
Keywords: Targeted Marketing; Optimization; Churn Management; Marketing; Customer Relationship Management; Policy; Learning; Outcome or Result
Yang, Jeremy, Dean Eckles, Paramveer Dhillon, and Sinan Aral. "Targeting for Long-Term Outcomes." Working Paper, October 2020.
- 22 Jul 2002
- Research & Ideas
Is Performance-Based Pricing the Right Price for You?
important ones. But, some limited variants can also be useful. "Point" guarantees such as penalty clauses which involve a discount when delivery is late are a simple form of performance-based pricing. Penalty clauses are... View Details
- 16 Jul 2007
- Research & Ideas
Understanding the ‘Want’ vs. ’Should’ Decision
analyzed a year of individual-level data from a North American online grocer to determine how the delay between when a person's order was completed and when it was delivered affected the content of the order. In general, as the View Details
- 20 Dec 2017
- Lessons from the Classroom
How to Design a Better Customer Experience
customer’s champion and own the problem. “We landed after a delayed 12-hour flight and learned that our connecting flight was gone. Our expectations were low because we flew on a mileage ticket from American Express. The airline agent... View Details
- 19 Oct 2021
- Research & Ideas
Fed Up Workers and Supply Woes: What's Next for Dollar Stores?
data. But higher costs for materials, manufacturing, shipping and trucking, and COVID safety measures, coupled with unprecedented competition for workers, are testing the endurance of retailers, especially those who rely heavily on cheap imports from Asia, like the... View Details
- 26 Nov 2001
- Op-Ed
Why Corporate Budgeting Needs To Be Fixed
for example) or by moving future revenues to the present (booking orders early or offering special discounts to customers, for example). If, on the other hand, the manager concludes that she can't make the minimum hurdle, her incentives... View Details
Keywords: by Michael C. Jensen
- 02 Jan 2012
- Research & Ideas
Most Popular Articles of 2011
spent with insiders is correlated with profits; time spent with outsiders is not. A possible interpretation is that spending time with outsiders might be more beneficial to the CEO than to the firm. To Groupon or Not to Groupon: The Profitability of Deep View Details
Keywords: by Staff
- 18 Feb 2009
- First Look
First Look: February 18, 2009
accountability. But partners are not paid until after their work is complete, and advertisers can extend this delay both to improve detection of improper partner practices and to punish partners who turn out to be rule-breakers. I capture... View Details
Keywords: Martha Lagace
- 01 Nov 2011
- First Look
First Look: Nov. 1
results in a strict increase in global emissions. Download the paper: http://www.hbs.edu/research/pdf/12-029.pdf To Groupon or Not to Groupon: The Profitability of Deep Discounts Authors:Benjamin Edelman, Sonia Jaffe, and Scott Duke... View Details
Keywords: Sean Silverthorne
- 30 Jan 2017
- Research & Ideas
Vanguard, Trian And The Problem With 'Passive' Index Funds
“Investors in those funds benefit from that process, as they tend to buy the company at a discount from the market and sell it back later to the market for a premium once the company has been turned around.” But private equity is not a... View Details
- 17 Nov 2020
- In Practice
How Retailers Can Thrive in a Shopping Season Like No Other
promotions to control the flow of shoppers inside stores to meet social distancing requirements. Many started offering Black Friday deals in early November. Discounts appear to be larger than ever this year, likely reflecting soft... View Details