Publications

Publications

Filter Results: (14) Arrow Down

Show Results For

Page 1 of 14 Results
  • August 2017
  • Article

Catering to Investors Through Security Design: Headline Rate and Complexity

By: Claire Célérier and Boris Vallée
This paper investigates the rationale for issuing complex securities to retail investors. We focus on a large market of investment products targeted exclusively at households: retail-structured products in Europe. We hypothesize that banks strategically use product... View Details
Keywords: Financial Complexity; Catering; Shrouding; Reaching For Yield; Investment
Related
  • Article

Strategic Disclosure: The Case of Business School Rankings

By: Michael Luca and Jonathan Smith
We empirically analyze disclosure decisions made by 240 MBA programs about which rankings to display on their websites. We present three main findings. First, consistent with theories of countersignaling, top schools are least likely to disclose their rankings, whereas... View Details
Keywords: Voluntary Disclosure; Shrouded Attributes; Information Unraveling; Rankings; Higher Education; Corporate Disclosure; Rank and Position
Related
  • March 2016 (Revised November 2021)
  • Teaching Note

T-Mobile in 2013: The Un-Carrier

By: John Beshears and Francesca Gino
By 2013, the U.S. wireless industry was in the midst of a costly transition. As consumers began to embrace more sophisticated mobile devices, the industry's four main players spent heavily to improve their infrastructures for providing reliable high-speed data... View Details
Keywords: Wireless Industry; Telecommunications; Mobile; Service Contracts; Behavioral Economics; Add-on Fees; Shrouded Attributes; Contracts; Competitive Strategy; Consumer Behavior; Infrastructure; Mobile and Wireless Technology; Telecommunications Industry; United States
Related
  • 19 Apr 2010
  • Research & Ideas

The History of Beauty

Beauty Imagined: A History of the Global Beauty Industry is the first serious attempt to trace the history of the $330 billion global beauty industry and its large collection of fascinating entrepreneurs through countries including France, the United States, Japan, and... View Details
Keywords: by Sean Silverthorne; Beauty & Cosmetics
  • 31 Jan 2014
  • News

On Section 377, a call to leadership

  • 23 Nov 2022
  • News

The Sinister Logic of Hidden Online Fees

  • May 2022
  • Article

Complex Disclosure

By: Ginger Zhe Jin, Michael Luca and Daniel Martin
We present evidence that unnecessarily complex disclosure can result from strategic incentives to shroud information. In our lab experiment, senders are required to report their private information truthfully, but can choose how complex to make their reports. We find... View Details
Keywords: Disclosure; Experiments; Naiveté; Overconfidence; Corporate Disclosure; Policy; Information; Complexity; Strategy; Consumer Behavior
Related
  • August 2005 (Revised August 2007)
  • Background Note

Why Study Emerging Markets

By: Tarun Khanna, Krishna G. Palepu and Kjell Ke-Li Carlsson
Emerging markets have attracted considerable attention and are likely to become an increasingly important political and economic force. They represent an enormous opportunity for entrepreneurs, multinationals, and investors but also pose a threat for products, jobs,... View Details
Keywords: Profit; Multinational Firms and Management; Corporate Governance; Emerging Markets; Problems and Challenges; Opportunities
Related
  • 2019
  • Article

Pay-for-Monopoly?: An Assessment of Reverse Payment Deals by Pharmaceutical Companies

By: Sana Rafiq and Max Bazerman
Abstract Over the past eighteen years, pharmaceutical firms have developed a blueprint to impede competition in order to maintain their monopoly profits. This scheme, termed pay-for-delay, involves direct or indirect payment of money from a branded-drug manufacturer... View Details
Keywords: Monopoly; Policy; Competition; Agreements and Arrangements; Pharmaceutical Industry
Related
  • 30 Oct 2018
  • First Look

New Research and Ideas, October 30, 2018

members of their own gender/ethnic group. Download working paper: https://www.hbs.edu/faculty/Pages/item.aspx?num=53407 Complex Disclosure By: Jin, Ginger Zhe, Michael Luca, and Daniel Martin Abstract—We present evidence that complex disclosure can result from the... View Details
Keywords: Dina Gerdeman
  • 31 Jan 2017
  • Research & Ideas

Why These Business School Professors Oppose Trump's Executive Order on Immigration

were shrouded with more uncertainty. The authors found that the lower prospects of future US employment reduced the average SAT score of affected international applicants by about 1.5%, with effects being especially sharp among the very... View Details
Keywords: by Staff
  • 03 Nov 2015
  • First Look

November 3, 2015

strategically use product complexity to cater to yield-seeking households by making product returns more salient and shrouding risk. We find four empirical results consistent with this view. First, we show that structured products with... View Details
Keywords: Sean Silverthorne
  • 20 Dec 2016
  • First Look

December 20, 2016

shrouding risk. We find four empirical results consistent with this view. First, we show that structured products with complex payoff formulas offer higher headline rates, and that they more frequently expose investors to a complete loss... View Details
Keywords: Carmen Nobel
  • Person Page

Media

Media

This lists media reports covering my firm dollarDEX Investments or me (or my colleagues), or columns written by me (or my colleagues). There are all... View Details