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      • August 5, 2025
      • Article

      Data-driven Equation Discovery Reveals Nonlinear Reinforcement Learning in Humans

      By: Kyle J. LaFollette, Janni Yuval, Roey Schurr, David Melnikoff and Amit Goldenberg
      Computational models of reinforcement learning (RL) have significantly contributed to our understanding of human behavior and decision-making. Traditional RL models, however, often adopt a linear approach to updating reward expectations, potentially oversimplifying the... View Details
      Keywords: AI and Machine Learning; Behavior; Learning; Motivation and Incentives; Mathematical Methods
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      LaFollette, Kyle J., Janni Yuval, Roey Schurr, David Melnikoff, and Amit Goldenberg. "Data-driven Equation Discovery Reveals Nonlinear Reinforcement Learning in Humans." Proceedings of the National Academy of Sciences 122, no. 31 (August 5, 2025).
      • 2025
      • Working Paper

      Emotional Manipulation by AI Companions

      By: Julian De Freitas, Zeliha Oğuz-Uğuralp and Ahmet Kaan-Uğuralp
      AI-companion apps such as Replika, Chai, and Character.ai promise relational benefits—yet many boast session lengths that rival gaming platforms while suffering high long-run churn. What conversational design features increase consumer engagement, and what trade-offs... View Details
      Keywords: Generative Ai; Chatbots; Emotional Manipulation; User Retention; Dark Side Of Technology; Consumer Welfare; AI and Machine Learning; Ethics; Consumer Behavior; Emotions; Perception
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      De Freitas, Julian, Zeliha Oğuz-Uğuralp, and Ahmet Kaan-Uğuralp. "Emotional Manipulation by AI Companions." Harvard Business School Working Paper, No. 26-005, August 2025.
      • August 2025
      • Case

      REDF: Investing in Employment Social Enterprises

      By: Brian Trelstad, Gerald Chertavian, Elisabeth Powell and Courtney Han
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      Trelstad, Brian, Gerald Chertavian, Elisabeth Powell, and Courtney Han. "REDF: Investing in Employment Social Enterprises." Harvard Business School Case 326-047, August 2025.
      • August 2025
      • Background Note

      Social Enterprise in Europe

      By: Brian Trelstad, Hugo Etchegoyhen and Tonia Labruyere
      Keywords: Social Entrepreneurship; Europe; European Union; France; Germany; United Kingdom; Italy; Switzerland; Poland; Norway; Sweden; Denmark; Finland
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      Trelstad, Brian, Hugo Etchegoyhen, and Tonia Labruyere. "Social Enterprise in Europe." Harvard Business School Background Note 326-009, August 2025.
      • 2025
      • Book

      Concise Business Guide to Climate Change: What Managers, Executives, and Students Need to Know

      By: J. Gunnar Trumbull
      Understanding the ground rules of climate change for business.

      Climate has changed the game for businesses around the world. With climate-related disasters costing billions in damages and public pressure rising, over a hundred nations joined... View Details
      Keywords: Climate Change; Environmental Sustainability; Corporate Social Responsibility and Impact; Business or Company Management; Governing Rules, Regulations, and Reforms
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      Trumbull, J. Gunnar. Concise Business Guide to Climate Change: What Managers, Executives, and Students Need to Know. Boston, MA: Harvard Business Review Press, 2025.
      • Article

      Faith and Assimilation: Italian Immigrants in the U.S.

      By: Stefano Gagliarducci and Marco Tabellini
      How do ethnic religious organizations influence immigrant assimilation? To answer this question, we assemble novel data from the Catholic directories to measure the presence of Italian Catholic churches in the US between 1890 and 1920, when four million Italians moved... View Details
      Keywords: Assimilation; Religious Organizations; Immigration; Religion; History; United States
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      Gagliarducci, Stefano, and Marco Tabellini. "Faith and Assimilation: Italian Immigrants in the U.S." Economic Journal 135, no. 670 (August 1, 2025): 1814–1851. (Also available from NBER and featured in NBER Digest and VoxEU.)
      • July–August 2025
      • Article

      How the Busiest People Find Joy

      By: Leslie A. Perlow, Sari Mentser and Salvatore J. Affinito
      Joy, along with achievement and meaningfulness, is one of the three keys to a satisfying life. Yet it’s the missing piece for many ambitious individuals, the authors found after examining data on how nearly 2,000 professionals spend their days. Jam-packed schedules are... View Details
      Keywords: Well-being; Satisfaction; Work-Life Balance; Happiness
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      Perlow, Leslie A., Sari Mentser, and Salvatore J. Affinito. "How the Busiest People Find Joy." Harvard Business Review 103, no. 4 (July–August 2025): 135–139.
      • July 2025
      • Teaching Note

      Greenwood Online: A Fin-Tech Service for Culture and Community

      By: James Riley and Bernal Cortés
      In 2020, Ryan Glover and Paul Judge launched Greenwood, a fintech startup designed to counter systemic racial discrimination in the American banking ecosystem by offering accessible financial services tailored to Black and Brown communities, but available to all.... View Details
      Keywords: Purpose; Identity; Cultural Branding; Impression Management; Organization Behavior; Strategic Alignment; Start-up; Mission and Purpose; Decision Making; Decisions; Marketing Strategy; Organizational Structure; Banking Industry; United States
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      Riley, James, and Bernal Cortés. "Greenwood Online: A Fin-Tech Service for Culture and Community." Harvard Business School Teaching Note 426-019, July 2025.
      • July 2025
      • Case

      Greenwood Online: A Fin-Tech Service for Culture and Community (A)

      By: James Riley and Bernal Cortés
      In 2020, Ryan Glover and Paul Judge launched Greenwood, a fintech startup designed to counter systemic racial discrimination in the American banking ecosystem by offering accessible financial services tailored to Black and Brown communities, but available to all.... View Details
      Keywords: Purpose; Identity; Cultural Branding; Impression Management; Organization Behavior; Strategic Alignment; Start-up; Mission and Purpose; Decisions; Marketing Strategy; Organizational Structure; Banking Industry; United States
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      Riley, James, and Bernal Cortés. "Greenwood Online: A Fin-Tech Service for Culture and Community (A)." Harvard Business School Case 426-017, July 2025.
      • July 2025
      • Case

      Toilets for the Underserved: The SURT Commercialization Challenge

      By: Maria P. Roche, Anne Marie Knott and Alexander Oettl
      In 2021, a breakthrough in sanitation technology developed under the Gates Foundation’s “Reinvent the Toilet” initiative stood ready for commercialization. The Single User Reinvented Toilet (SURT), engineered by Dr. Shannon Yee, offered an off-grid, self-contained... View Details
      Keywords: Technological Innovation; Commercialization; Social Issues; Social Enterprise; Public Sector; Private Sector; Market Entry and Exit; Strategic Planning; Engineering; Infrastructure; Innovation Strategy; Utilities Industry; Consumer Products Industry; United States; South Africa; India; France
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      Roche, Maria P., Anne Marie Knott, and Alexander Oettl. "Toilets for the Underserved: The SURT Commercialization Challenge." Harvard Business School Case 726-369, July 2025.
      • 2025
      • Working Paper

      In Privacy We Trust: The Effect of Privacy Regulations on Data Sharing Behavior

      By: Ozge Demirci, Ayelet Israeli and Eva Ascarza
      This paper studies the impact of privacy policies on consumer data-sharing behavior, focusing on policy changes in California and Virginia that took effect in 2023. Using data from a leading customer engagement app in the United States, where users upload shopping... View Details
      Keywords: Privacy; Privacy Regulation; Data Sharing; Digital Platforms; Policy; Surveys; Behavior; Public Opinion; California; Virginia
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      Demirci, Ozge, Ayelet Israeli, and Eva Ascarza. "In Privacy We Trust: The Effect of Privacy Regulations on Data Sharing Behavior." Harvard Business School Working Paper, No. 26-001, July 2025.
      • July 2025
      • Teaching Note

      Silicon Valley Bank: Gone in 36 Hours

      By: Jung Koo Kang, Krishna G. Palepu and Charles C.Y. Wang
      Teaching Note for HBS Case No. 125-094. View Details
      Keywords: Accounting Standards; Bank Runs; Financial Accounting; Financial Reporting; Social Media; Banks and Banking; Financing and Loans; Investment Portfolio; Interest Rates; Debt Securities; Risk and Uncertainty; Financial Statements; Risk Management; Financial Services Industry; United States
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      Kang, Jung Koo, Krishna G. Palepu, and Charles C.Y. Wang. "Silicon Valley Bank: Gone in 36 Hours." Harvard Business School Teaching Note 126-002, July 2025.
      • July 2025
      • Case

      ICARE: Frontline Leadership at Michelin

      By: Hubert Joly and Emilie Billaud
      In 2025, Michelin CEO Florent Menegaux reflected on the company’s transformation since taking the helm in 2019. Amid a volatile global landscape marked by inflation, rising competition, and geopolitical and sustainability pressures, Michelin had achieved strong... View Details
      Keywords: Human Capital; Transformation; Management Practices and Processes; Managerial Roles; Organizational Culture; Leadership; Competency and Skills; Global Strategy; Multinational Firms and Management; Human Resources; Compensation and Benefits; Recruitment; Retention; Employee Relationship Management; Working Conditions; Leading Change; Growth and Development Strategy; Groups and Teams; Motivation and Incentives; Well-being; Auto Industry; Manufacturing Industry; Europe; China; United States
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      Joly, Hubert, and Emilie Billaud. "ICARE: Frontline Leadership at Michelin." Harvard Business School Case 326-024, July 2025.
      • July 2025
      • Case

      Mother’s Home: Eradicating Social Orphancy in Kazakhstan

      By: Boris Groysberg and Annelena Lobb
      Mother’s Home International Foundation, a Kazakhstani foundation, had reduced the number of children living in orphanages in Kazakhstan from roughly 10,000 to 4,000 over 12 years, building crisis centers for new mothers to help them keep their babies and stabilize... View Details
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      Groysberg, Boris, and Annelena Lobb. "Mother’s Home: Eradicating Social Orphancy in Kazakhstan." Harvard Business School Case 426-012, July 2025.
      • July 2025
      • Article

      Digital Lending and Financial Well-Being: Through the Lens of Mobile Phone Data

      By: AJ Chen, Omri Even-Tov, Jung Koo Kang and Regina Wittenberg-Moerman
      To mitigate information asymmetry about borrowers in developing economies, digital lenders use machine-learning algorithms and nontraditional data from borrowers’ mobile devices. Consequently, digital lenders have managed to expand access to credit for millions of... View Details
      Keywords: Informal Economy; Digital Banking; Mobile Phones; Developing Countries and Economies; Mobile and Wireless Technology; AI and Machine Learning; Analytics and Data Science; Credit; Borrowing and Debt; Well-being; Banking Industry; Kenya
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      Chen, AJ, Omri Even-Tov, Jung Koo Kang, and Regina Wittenberg-Moerman. "Digital Lending and Financial Well-Being: Through the Lens of Mobile Phone Data." Accounting Review 100, no. 4 (July 2025): 135–159.
      • July–August 2025
      • Article

      Don’t Let an AI Failure Harm Your Brand

      By: Julian De Freitas
      How companies market their AI systems affects the repercussions they face when their products fail. Marketers must promote their AI products with potential failure in mind. To do that, they must first understand consumers’ unique attitudes toward AI. Marketers who... View Details
      Keywords: AI and Machine Learning; Brands and Branding; Product Marketing; Consumer Behavior; Attitudes
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      De Freitas, Julian. "Don’t Let an AI Failure Harm Your Brand." Harvard Business Review 103, no. 4 (July–August 2025): 126–133.
      • July 2025
      • Article

      Extraverts Reap Greater Social Rewards from Passion Because They Express Passion More Frequently and More Diversely

      By: Kai Krautter, Anabel Büchner and Jon M. Jachimowicz
      Passion is stereotypically expressed through animated facial expressions, energetic body movements, varied tone, and pitch—and met with interpersonal benefits. However, these capture only a subset of passion expressions that are more common for extraverts. Indeed, in... View Details
      Keywords: Passion; Personality; Extraversion; Scale Development; Perception; Personal Characteristics
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      Krautter, Kai, Anabel Büchner, and Jon M. Jachimowicz. "Extraverts Reap Greater Social Rewards from Passion Because They Express Passion More Frequently and More Diversely." Personality and Social Psychology Bulletin 51, no. 7 (July 2025): 1159–1172.
      • July 2025
      • Article

      No Free Lunch? Welfare Analysis of Firms Selling Through Expert Intermediaries

      By: Matt Grennan, Kyle R. Myers, Ashley Swanson and Aaron Chatterji
      We study how firms target and influence expert intermediaries. In our context, pharmaceutical manufacturers provide payments to physicians during promotional interactions. We develop an identification strategy based on plausibly exogenous variation in payments driven... View Details
      Keywords: Duopoly and Oligopoly; Marketing Channels; Power and Influence; Policy; Outcome or Result; Pharmaceutical Industry
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      Grennan, Matt, Kyle R. Myers, Ashley Swanson, and Aaron Chatterji. "No Free Lunch? Welfare Analysis of Firms Selling Through Expert Intermediaries." Review of Economic Studies 92, no. 4 (July 2025): 2537–2577.
      • July 2025
      • Article

      On the Economic Origins of Concerns Over Women’s Chastity

      By: Anke Becker
      This paper studies the origins and function of customs and norms that intend to keep women from being promiscuous. Using large-scale survey data from more than 100 countries, I test the anthropological theory that a particular form of preindustrial... View Details
      Keywords: Infibulation; Female Sexuality; Paternity Uncertainty; Concern About Women's Chastity; Pastoralism; Economic Anthropology; History; Gender; Social Issues; Culture
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      Becker, Anke. "On the Economic Origins of Concerns Over Women’s Chastity." Review of Economic Studies 92, no. 4 (July 2025): 2303–2329.
      • July–August 2025
      • Article

      Passion Penalizes Women and Advantages (Unexceptional) Men in High-Potential Designations

      By: Joyce He, Jon M. Jachimowicz and Celia Moore
      High potential programs offer a swift path up the corporate ladder for those who secure a place on them. However, the evaluation of “potential” occurs under considerable uncertainty, creating fertile ground for gender bias. We document that men are more likely than... View Details
      Keywords: Passion; Potential; Gender; Motivation and Incentives; Performance; Talent and Talent Management
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      He, Joyce, Jon M. Jachimowicz, and Celia Moore. "Passion Penalizes Women and Advantages (Unexceptional) Men in High-Potential Designations." Organization Science 36, no. 4 (July–August 2025): 1438–1465.
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