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  • February 2011
  • Article

Target Ratcheting and Effort Reduction

By: J. Bouwens and Peter Kroos
In this paper, we examine how retail store managers reduce their sales activity in response to target ratcheting. We find that managers with favorable sales performance in the first three quarters reduce their sales activity in the final quarter. We also document that... View Details
Keywords: Target-setting; Ratchet Effect; Manipulating Real Economic Activities; Goals and Objectives; Strategy; Performance Evaluation; Sales
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  • 01 Oct 2009
  • Working Paper Summaries

Systemic Risk and the Refinancing Ratchet Effect

Keywords: by Amir E. Khandani, Andrew W. Lo & Robert C. Merton; Construction; Real Estate
  • 2009
  • Working Paper

Systemic Risk and the Refinancing Ratchet Effect

By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton
The confluence of three trends in the U.S. residential housing market—rising home prices, declining interest rates, and near-frictionless refinancing opportunities—led to vastly increased systemic risk in the financial system. Individually, each of these trends is... View Details
Keywords: Housing; Mortgages; Risk and Uncertainty; Value; Mathematical Methods; Real Estate Industry; United States
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  • 2009
  • Working Paper

Systemic Risk and the Refinancing Ratchet Effect

By: Amir E. Khandani, Andrew W. Lo and Robert C. Merton
The confluence of three trends in the U.S. residential housing market-rising home prices, declining interest rates, and near-frictionless refinancing opportunities-led to vastly increased systemic risk in the financial system. Individually, each of these trends is... View Details
Keywords: Equity; Mortgages; Interest Rates; Price; Housing; Risk and Uncertainty; United States
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  • 2018
  • Working Paper

Ratcheting, Competition, and the Diffusion of Technological Change: The Case of Televisions Under an Energy Efficiency Program

By: Tomomichi Amano and Hiroshi Ohashi
In differentiated goods markets with societal implications, quality standards are commonly implemented to avoid the under-provision of innovation. Firms have clear incentives to engage in strategic behavior because policymakers use market outcomes as a benchmark in... View Details
Keywords: Product Differentiation; Energy Efficiency Standards; Ratcheting; Diffusion Of Innovation; Technological Innovation; Competition; Quality; Governing Rules, Regulations, and Reforms; Policy
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  • 29 Sep 2009
  • First Look

First Look: September 29

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1471435 Systemic Risk and the Refinancing Ratchet Effect Authors:Amir E. Khandani, Andrew W. Lo, and Robert C. Merton Abstract The confluence of three trends in the U.S. residential... View Details
Keywords: Martha Lagace
  • October 2007
  • Case

The AtekPC Project Management Office

By: F. Warren McFarlan, Mark Keil and John Hupp
Presents one company's efforts to implement a project management organization, or PMO, and the challenges they faced in doing so. Issues brought out in the case include defining the PMO's purpose and mission, the structure and governance of the PMO, and how to... View Details
Keywords: Projects; Goals and Objectives; Technological Innovation; Information Technology; Business Strategy; Mathematical Methods; Consulting Industry
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  • Article

How to Really Motivate Salespeople

By: Doug J. Chung
Much of what we believe about the best ways to compensate and motivate the sales force is based on theory and lab experiments. But in the past decade, researchers have been moving out of the lab and into the field, analyzing companies' sales and pay data, and... View Details
Keywords: Compensation; Motivating People; Motivation and Incentives; Compensation and Benefits; Sales
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  • 20 Nov 2012
  • Working Paper Summaries

Pay Harmony: Peer Comparison and Executive Compensation

Keywords: by Claudine Gartenberg & Julie Wulf
  • 16 Aug 2011
  • First Look

First Look: August 16

  PublicationsThe World Bank and Democratic Accountability: The Role of Civil Society Authors:Alnoor Ebrahim and Steve Herz Publication:Chap. 3 in Building Global Democracy? Civil Society and Accountable Global Governance, edited by Jan Aart Scholte, Cambridge... View Details
Keywords: Sean Silverthorne
  • 05 Aug 2022
  • Research & Ideas

Why People Crave Feedback—and Why We’re Afraid to Give It

feedback and appreciated it when they got it." In another experiment, the team ratcheted up the stakes by inviting two people who knew each other well—such as romantic partners and close friends—into the laboratory, and then randomly... View Details
Keywords: by Michael Blanding
  • 22 Oct 2019
  • Research & Ideas

Use Artificial Intelligence to Set Sales Targets That Motivate

to do only the minimum necessary to get their bonus, lest the company sets a too-high goal next year. “An employee says I know I can do 120 percent, but I am not going to do it,” Chung says. “You are penalizing the high performers.” Besides, a compensation plan that... View Details
Keywords: by Michael Blanding
  • 03 Mar 2003
  • Research & Ideas

Top Ten Legal Mistakes Made by Entrepreneurs

for shares. These include requiring participating preferred with a high cumulative dividend, redemption rights exercisable after only several years, and ratchet anti-dilution protection with no cap. One must ask, what's the reputation of... View Details
Keywords: by Staff
  • 14 Jul 2003
  • Research & Ideas

Understaffed and Overworked: What Now?

take on any additional work. (The nationwide average in FranklinCovey's xQ survey was 50 percent.) What's more, over the course of the next six months, the size of Andrus's already overtaxed staff would shrink from 48 to 35—but corporate expectations would not be View Details
Keywords: by Paul Michelman
  • 18 Sep 2018
  • First Look

New Research and Ideas, September 18, 2018

explicitly a function of current product offerings. The setting illustrates firms' dual incentives at work: A firm better differentiates products under a looser standard but may want to induce a tighter standard if it can benefit from raising rivals' costs. These... View Details
Keywords: Dina Gerdeman
  • 03 Dec 2008
  • What Do You Think?

Can Housing and Credit be “Nudged” Back to Health?

harmed by our own worst instincts." Dan Wallace proposed: "I like 'nudge' solutions, and one approach here might be to provide a 100 percent mortgage interest deduction for people who put 20 percent down on a home, and ratchet... View Details
Keywords: by Jim Heskett
  • 13 Jul 2010
  • First Look

First Look: July 13

Refinancing Ratchet Effect (revised) Authors:Amir E. Khandani, Andrew W. Lo, and Robert C. Merton Abstract The confluence of three trends in the U.S. residential housing market-rising home prices, declining interest rates, and... View Details
Keywords: Martha Lagace
  • 15 Oct 2001
  • Research & Ideas

Rethinking E-Leadership

roles and behaviors you're asking them to learn. If they don't see the need for change as urgent, ratchet up the brashness. But if they seem paralyzed by all that you're asking them to do differently, temper your communications. "The... View Details
Keywords: by Melissa Raffoni
  • 26 May 2003
  • Research & Ideas

What Your Competition is Telling You

categories. This can lead to a certain amount of head-to-head competition between the two neighboring shopping centers; but, for the most part, their overall business increases as they siphon away customers from more remote shopping centers that aren't as assiduously... View Details
Keywords: by David Stauffer
  • 12 Apr 2018
  • Op-Ed

Op-Ed: The Trouble with Tariffs

pocketbooks. Since then, as the stock market roller coaster has shown, the rhetoric has only ratcheted upwards. On April 5, the president threatened tariffs on an additional $100 billion in Chinese goods. China returned fire proposing new... View Details
Keywords: by Willy C. Shih; Manufacturing; Auto; Steel; Air Transportation; Technology; Telecommunications

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