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  • 2011
  • Working Paper
  • HBS Working Paper Series

Matthew: Effect or Fable?

By: Toby E. Stuart
  • Format:Print
  • | Language:English
  • | Pages:51
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Abstract

In a market context, a status effect occurs when actors are accorded differential recognition for their efforts depending on their location in a status ordering, holding constant the quality of these efforts. In practice, because it is very difficult to measure quality, this ceteris paribus proviso often precludes convincing empirical assessments of the magnitude of status effects. We address this problem by examining the impact of a major status-conferring prize that shifts actors' positions in a prestige ordering. Specifically, using a precisely constructed matched sample, we estimate the effect of a scientist becoming a Howard Hughes Medical Investigator (HHMI) on citations to articles the scientist published before the prize was awarded. We do find evidence of a post-appointment citation boost, but the effect is small and limited to a short window of time. Consistent with theories of status, however, the effect of the prize is significantly larger when there is uncertainty about scientist and article quality.

Keywords

Risk and Uncertainty; Status and Position; Measurement and Metrics; Quality

Citation

Azoulay, Pierre, Toby E. Stuart, and Yanbo Wang. "Matthew: Effect or Fable?" Harvard Business School Working Paper, No. 12-049, December 2011.
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About The Author

Toby E. Stuart

Strategy
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More from the Author
  • Sirtris Pharmaceuticals: Living Healthier, Longer (Abridged) By: Toby Stuart and James Weber
  • GSK's Acquisition of Sirtris: Independence or Integration? (Abridged) By: Toby Stuart and James Weber
  • Inside the Black Box of the Corporate Staff: An Exploratory Analysis Through the Lens of E-Mail Networks By: Toby E. Stuart
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