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  • 2013
  • Working Paper

Asset Price Dynamics with Limited Attention

By: Mark Seasholes, Terrence Hendershott, Sunny X. Li and Albert J. Menkveld
This paper studies the role that limited attention and inefficient risk sharing play in stock price deviations from the efficient prices at horizons from one day to one month. We expand the Due (2010) slow-moving capital model to analyze multiple groups of investors... View Details
Keywords: Transitory Volatility; Limited Attention; Individuals; Market Makers; Asset Pricing; Financial Markets; Volatility
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  • File

Internet Appendix for Asset Price Dynamics with Limited Attention

  • Research Summary

Selective Attention and Learning

By: Joshua R. Schwartzstein

What do we notice, and how does this affect what we learn? Standard economic models of learning ignore memory by assuming that we remember everything. But there is growing recognition that memory is imperfect. Further, memory imperfections do not stem from limited... View Details

  • 2020
  • Working Paper

(When) Does Appearance Matter? Evidence from a Randomized Controlled Trial

By: Prithwiraj Choudhury, Tarun Khanna, Christos A. Makridis and Subhradip Sarker
While there is evidence about labor market discrimination based on race, religion, and gender, we know little about whether physical appearance leads to discrimination in labor market outcomes. We deploy a randomized experiment on 1,000 respondents in India between... View Details
Keywords: Behavioral Economics; Coronavirus; Discrimination; Homophily; Labor Market Mobility; Limited Attention; Resumes; Personal Characteristics; Prejudice and Bias
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  • Research Summary

Understanding the Drivers and Limits of Corporate Growth

By: Gary P. Pisano

Perhaps no issues garners more attention of senior executives and Boards of Directors than growth.  Yet, the underlying factors shaping and limiting corporate growth are poorly understood.  Empirically, we know that some corporations grow much faster than... View Details

  • 2021
  • Working Paper

G.I. Joe Phenomena: Understanding the Limits of Metacognitive Awareness on Debiasing

By: Ariella S. Kristal and Laurie R. Santos
Knowing about one’s biases does not always allow one to overcome those biases— a phenomenon referred to as the G. I. Joe fallacy. We explore why knowing about a bias doesn’t necessarily change biased behavior. We argue that seemingly disparate G. I. Joe... View Details
Keywords: Biases; Judgment; Decision-making; Nudge; Debiasing; Illusions; Prejudice and Bias; Decision Making; Behavior; Change
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  • Forthcoming
  • Article

Public Disclosure of Private Meetings: Does Observing Peers’ Information Acquisition Affect Analysts’ Attention Allocation?

By: Yi Ru, Ronghuo Zheng and Yuan Zou
We investigate the impact of observing peers’ information acquisition on financial analysts’ allocation of attention. Using the timely disclosure mandate by the Shenzhen Stock Exchange as a setting, we find that, shortly after analysts observe that a firm has been... View Details
Keywords: Corporate Disclosure; Information; Financial Institutions; Accounting; Financial Markets; Financial Services Industry; China
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  • 01 Dec 2012
  • News

Reimagining Capitalism In a World of Limited Resources

Henderson What would you do if you had the Dalai Lama's complete attention for 10 minutes? That's the situation Professor Rebecca Henderson faced in front of 1,000 people during a panel discussion with the religious leader, part of his... View Details
Keywords: Dalai Lama
  • 24 Apr 2019
  • Research & Ideas

The 'Amazon Effect' Is Changing Online Price Competition—and the Fed Needs to Pay Attention

adjusting much more rapidly, those surging gas prices become more meaningful, he says. “They need to pay more attention to these types of aggregate shocks, even if they are transitory, because they can affect retail prices much faster... View Details
Keywords: by Roberta Holland; Retail
  • 2025
  • Working Paper

Greenlighting Innovative Projects: How Evaluation Format Shapes the Perceived Feasibility of Early-Stage Ideas

By: Jacqueline N. Lane, Simon Friis, Tianxi Cai, Michael Menietti, Griffin Weber and Eva C. Guinan
The evaluation of innovative early-stage projects is essential for allocating limited resources. We investigate how the evaluation format affects the identification of feasibility issues through a field experiment at a leading research university. Experts were... View Details
Keywords: Innovation Evaluation; Evaluation Criteria; Feasibility Assessment; Attention Allocation; Cognitive Mechanisms; Field Experiment; Research; Performance Evaluation; Innovation and Invention; Prejudice and Bias
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  • 30 Nov 2021
  • News

Once Led by Founders, Twitter Set for Fresh Path

  • July 2002 (Revised February 2003)
  • Case

Fresh Start? Peru's Legacy of Debt and Default (A)

By: Julio J. Rotemberg and Lisa Lewis
Considers the situation facing Alberto Fujimori as he takes office in 1990. Pays particular attention to Peru's long history of international borrowing, default, and renegotiation. This history suggests that the costs imposed by foreigners on Peru when it failed to... View Details
Keywords: History; International Finance; Sovereign Finance; Economy; Borrowing and Debt; Peru
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  • 2016
  • Working Paper

Paying (for) Attention: The Impact of Information Processing Costs on Bayesian Inference

By: Scott Duke Kominers, Xiaosheng Mu and Alexander Peysakhovich
Human information processing is often modeled as costless Bayesian inference. However, research in psychology shows that attention is a computationally costly and potentially limited resource. We study a Bayesian individual for whom computing posterior beliefs is... View Details
Keywords: Behavior; Cognition and Thinking; Economics
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  • 2018
  • Working Paper

Creativity Under Fire: The Effects of Competition on Creative Production

By: Daniel P. Gross
Though fundamental to innovation and essential to many industries and occupations, individual creativity has received limited attention as an economic behavior and has historically proven difficult to study. This paper studies the incentive effects of competition on... View Details
Keywords: Incentives; Tournaments; Radical Vs. Incremental Innovation; Motivation and Incentives; Competition; Creativity; Innovation and Invention
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  • 2022
  • White Paper

The Options Multiplier: Decoding the CareerWise Youth Apprentice Journey

By: Joseph B. Fuller, Rachel Lipson, Farah Mallah, Girish Pendse and Rachel Snyder
As more Americans question the appeal of costly higher education programs, earn-and-learn models, like apprenticeship, are attracting increasing attention from policymakers and employers alike. While apprenticeship is widespread in many parts of Europe,... View Details
Keywords: Apprenticeship; Higher Education; Training; Personal Development and Career; Cost vs Benefits; Success; Governing Rules, Regulations, and Reforms
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  • Article

The Error at the Heart of Corporate Leadership

By: Joseph L. Bower and Lynn S. Paine
Agency theory, a new model of governance promulgated by academic economists in the 1970s, is behind the idea that corporate managers should make shareholder value their primary concern and that boards should ensure they do. The theory regards shareholders as owners of... View Details
Keywords: Agency Theory; Business and Shareholder Relations; Leadership; Corporate Governance
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  • 01 Feb 2022
  • Book

Innovation Isn’t Just for Startups: How Big Companies Can Succeed

by demonstrating new ways of working. They are passionate about an opportunity to reinvent the business, know how to get the attention of executives with compelling facts, want to design a new venture for success, do not want to conform,... View Details
Keywords: by Lane Lambert
  • 25 Oct 2022
  • Research & Ideas

Is Baseball Ready to Compete for the Next Generation of Fans?

baseball players high on that list. Gazette: Sports gambling is now legal in most states. Massachusetts is expected to begin allowing it in early 2023. When people have money riding on games, they tend to pay closer attention to that... View Details
Keywords: by Christina Pazzanese, Harvard Gazette; Media & Broadcasting; Sports
  • November–December 2019
  • Article

Making Sense of Soft Information: Interpretation Bias and Loan Quality

By: Dennis Campbell, Maria Loumioti and Regina Wittenberg Moerman
We explore whether behavioral biases impede the effective processing and interpretation of soft information in private lending. Taking advantage of the internal reporting system of a large federal credit union, we delineate three important biases likely to affect the... View Details
Keywords: Soft Information; Lending; Banking; Information; Financing and Loans; Banks and Banking; Decision Making
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  • 2017
  • Working Paper

Exploring the Relationship between Architecture Coupling and Software Vulnerabilities: A Google Chrome Case

By: Robert Lagerstrom, Carliss Y. Baldwin, Alan MacCormack, Dan Sturtevant and Lee Doolan
Employing software metrics, such as size and complexity, for predicting defects has been given a lot of attention over the years and has proven very useful. However, the few studies looking at software architecture and vulnerabilities are limited in scope and findings.... View Details
Keywords: Software; Architecture; Coupling; Vulnerabilities; Applications and Software; Complexity; Measurement and Metrics
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