Publications

Publications

Filter Results: (25) Arrow Down

Show Results For

Page 1 of 25 Results →
Sort by

Are you looking for?

→Search All HBS Web
  • February 2025
  • Article

Estimating Models of Supply and Demand: Instruments and Covariance Restrictions

By: Alexander MacKay and Nathan H. Miller
We consider the identification of empirical models of supply and demand with imperfect competition. We show that a restriction on the covariance between unobserved demand and cost shocks can resolve endogeneity and identify the price parameter. We demonstrate how to... View Details
Keywords: Demand Estimation; Identification; Endogeneity Bias; Covariance Restrictions; Ordinary Least Squares; Instrumental Variables; Price; Demand and Consumers; Competition
Related
  • 2023
  • Working Paper

Causal Interpretation of Structural IV Estimands

By: Isaiah Andrews, Nano Barahona, Matthew Gentzkow, Ashesh Rambachan and Jesse M. Shapiro
We study the causal interpretation of instrumental variables (IV) estimands of nonlinear, multivariate structural models with respect to rich forms of model misspecification. We focus on guaranteeing that the researcher's estimator is sharp zero consistent, meaning... View Details
Keywords: Mathematical Methods
Related
  • 2009
  • Working Paper

Watch What I Do, Not What I Say: The Unintended Consequences of the Homeland Investment Act

By: Dhammika Dharmapala, C. Fritz Foley and Kristin J. Forbes
This paper analyzes the impact on firm behavior of the Homeland Investment Act of 2004, which provided a one-time tax holiday for the repatriation of foreign earnings by U.S. multinationals. The analysis controls for endogeneity and omitted variable bias by using... View Details
Keywords: Investment; Multinational Firms and Management; Government Legislation; Taxation; Business and Shareholder Relations; Behavior; United States
Related
  • 2014
  • Working Paper

Bridging Science and Technology Through Academic-Industry Partnerships

By: Sen Chai and Willy C. Shih
Scientific research and its translation into commercialized technology is a driver of wealth creation and economic growth. Partnerships to foster the translational processes from public research organizations, such as universities and hospitals, to private firms are a... View Details
Keywords: Innovation; Firm Performance; Public-private Partnership Funding; Translational Research; Small And Medium Enterprises; Partners and Partnerships; Public Sector; Private Sector; Performance; Science-Based Business; Innovation and Invention
Related
  • October–December 2022
  • Article

Achieving Reliable Causal Inference with Data-Mined Variables: A Random Forest Approach to the Measurement Error Problem

By: Mochen Yang, Edward McFowland III, Gordon Burtch and Gediminas Adomavicius
Combining machine learning with econometric analysis is becoming increasingly prevalent in both research and practice. A common empirical strategy involves the application of predictive modeling techniques to "mine" variables of interest from available data, followed... View Details
Keywords: Machine Learning; Econometric Analysis; Instrumental Variable; Random Forest; Causal Inference; AI and Machine Learning; Forecasting and Prediction
Related
  • June 2011
  • Article

Truth in Giving: Experimental Evidence on the Welfare Effects of Informed Giving to the Poor

By: Christina Fong and Felix Oberholzer-Gee
It is often difficult for donors to predict the value of charitable giving because they know little about the persons who receive their help. This concern is particularly acute when making contributions to organizations that serve heterogeneous populations. While we... View Details
Keywords: Philanthropy and Charitable Giving; Policy; Information; Knowledge Acquisition; Game Theory; Prejudice and Bias; Poverty; Welfare
Related
  • 19 May 2015
  • First Look

First Look: May 19

decreased volatility of supply shocks and increased volatility of the Fed's long-run inflation target. Endogenous responses of bond risk premia amplify these effects of monetary policy on bond risks. Download working paper:... View Details
Keywords: Sean Silverthorne
  • 12 Jul 2016
  • First Look

July 12, 2016

endogenously limit their leverage as they internalize the costs. Tightening the commercial banks' capital requirement from the status quo leads to safer commercial banks and more shadow banking activity in the economy. While the safety of... View Details
Keywords: Sean Silverthorne
  • 06 Jun 2017
  • First Look

First Look at New Research and Ideas: June 6, 2017

reallocation accounts for the majority of aggregate productivity gains, suggesting that ignoring this channel could lead to substantial bias in understanding the nature of gains from multinational production. Publisher's link:... View Details
Keywords: Sean Silverthorne
  • 06 Nov 2018
  • First Look

New Research and Ideas, November 6, 2018

MacKay, Alexander, and Nathan H. Miller Abstract—We consider the identification and estimation of demand systems in models of imperfect competition. Under standard assumptions about demand and supply, the bias that arises from price View Details
Keywords: Dina Gerdeman
  • 25 Aug 2015
  • First Look

First Look Tuesday

addressing endogeneity concerns. We find that success in men's football and basketball has a significant impact on a school's respective football and basketball revenues; however, the effect is different based on the type of school. We... View Details
  • 11 Apr 2017
  • First Look

First Look at New Research, April 11

biased forecasts for potential future employers are more likely to face favorable career outcomes and bank executives appear to profit from the analysts' bias since the bias is associated with higher levels... View Details
  • 05 Aug 2014
  • First Look

First Look: August 5

count, patent count, and publication count, as well as their citations and the collaborative nature between funded and unfunded firms. Because randomization of the sample was not feasible, we address endogeneity around selection View Details
Keywords: Sean Silverthorne
  • 13 Jan 2009
  • First Look

First Look: January 13, 2009

purchase that follows an ad-click (CPA). Our analysis extends classic auction results by allowing players to make bids using two different pricing schemes, while the driving information for bidders' endogenous selection—the conversion... View Details
Keywords: Martha Lagace
  • 01 Feb 2011
  • First Look

First Look: Feb. 1

concurrent trades in these stocks by continuing fund managers. This behavior is observed regardless of fund characteristics and is stronger when new managers are external hires. The tendency of continuing fund managers to hold on to losers could be consistent with... View Details
  • 18 Dec 2012
  • First Look

First Look: December 18

tractable endogenous growth framework that contains multiple innovation sizes, multi-product firms, and entry/exit. Firms invest in exploration R&D to acquire new product lines and exploitation R&D to improve their existing... View Details
Keywords: Carmen Nobel
  • 25 Oct 2016
  • First Look

October 25, 2016

insulate consumers from cost sharing, thereby undermining insurers’ ability to influence drug utilization. We study the impact of copay coupons on branded drugs first facing generic entry between 2007 and 2010. To overcome endogeneity... View Details
Keywords: Sean Silverthorne
  • 07 Feb 2012
  • First Look

First Look: February 7

equal-division agreements. These endogenous framing effects may outweigh any overall social utility effects due to the mere presence of communication. In two studies, we find that non-binding talk about fairness within a three-party,... View Details
Keywords: Sean Silverthorne
  • 30 Jun 2009
  • First Look

First Look: June 30

provided a one-time tax holiday for the repatriation of foreign earnings by U.S. multinationals. The analysis controls for endogeneity and omitted variable bias by using instruments that identify the firms... View Details
Keywords: Martha Lagace
  • 16 Mar 2010
  • First Look

First Look: March 16

Fahlenbrach Publication:Journal of Financial and Quantitative Analysis (forthcoming) Abstract Large shareholders may play an important role for firm performance and policies, but identifying this empirically presents a challenge due to the View Details
Keywords: Martha Lagace

Are you looking for?

→Search All HBS Web