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- 2022
- Book
Empires of Ideas: Creating the Modern University from Germany to America to China
By: William C. Kirby
The modern university was born in Germany. In the twentieth century, the United States leapfrogged Germany to become the global leader in higher education. Will China challenge its position in the twenty-first?
Today American institutions dominate nearly every... View Details
Today American institutions dominate nearly every... View Details
- 2022
- Article
Exploring Counterfactual Explanations Through the Lens of Adversarial Examples: A Theoretical and Empirical Analysis.
By: Martin Pawelczyk, Chirag Agarwal, Shalmali Joshi, Sohini Upadhyay and Himabindu Lakkaraju
As machine learning (ML) models become more widely deployed in high-stakes applications, counterfactual explanations have emerged as key tools for providing actionable model explanations in practice. Despite the growing popularity of counterfactual explanations, a...
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- 2022
- Article
Probing GNN Explainers: A Rigorous Theoretical and Empirical Analysis of GNN Explanation Methods.
By: Chirag Agarwal, Marinka Zitnik and Himabindu Lakkaraju
As Graph Neural Networks (GNNs) are increasingly employed in real-world applications, it becomes critical to ensure that the stakeholders understand the rationale behind their predictions. While several GNN explanation methods have been proposed recently, there has...
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- April 27, 2022
- Article
Inequality in Researchers' Minds: Four Guiding Questions for Studying Subjective Perceptions of Economic Inequality
By: Jon M. Jachimowicz, Shai Davidai, Daniela Goya-Tocchetto, Barnabas Szaszi, Martin Day, Stephanie Tepper, L. Taylor Phillips, M. Usman Mirza, Nailya Ordabayeva and Oliver P. Hauser
Subjective perceptions of inequality can substantially influence policy attitudes, public health metrics, and societal well-being, but the lack of consensus in the scientific community on how to best operationalize and measure these perceptions may impede progress on...
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- 2022
- Working Paper
A Linear Panel Model with Heterogeneous Coefficients and Variation in Exposure
By: Jesse M. Shapiro and Liyang Sun
Linear panel models featuring unit and time fixed effects appear in many areas of empirical economics. An active literature studies the interpretation of the ordinary least squares estimator of the model, commonly called the two-way fixed effects (TWFE) estimator, in...
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- March 2022
- Article
Estimating the Effectiveness of Permanent Price Reductions for Competing Products Using Multivariate Bayesian Structural Time Series Models
By: Fiammetta Menchetti and Iavor Bojinov
Researchers regularly use synthetic control methods for estimating causal effects when a sub-set of units receive a single persistent treatment, and the rest are unaffected by the change. In many applications, however, units not assigned to treatment are nevertheless...
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- 2022
- Book
Legacy of Violence: A History of the British Empire
Sprawling across a quarter of the world’s land mass and claiming nearly seven hundred million people, Britain’s twentieth-century empire was the largest empire in human history. For many Britons, it epitomized their nation’s cultural superiority, but what legacy did...
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Keywords:
Imperialism;
Violence;
Colonialism;
History;
Government and Politics;
Power and Influence;
Race;
Policy;
United Kingdom
- 2022
- Chapter
Sustainability for People and the Planet: Placing Workers at the Center of Sustainability Research
By: Julie Yen, Julie Battilana and Emilie Aguirre
Though workers face a series of critical challenges in contemporary work organizations, they are often overlooked in conversations about sustainable business. In this chapter, we argue that prioritizing the rights and well-being of workers is a core dimension of...
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- 2022
- Chapter
Key Success Factors in Environmental Entrepreneurship: The Case of Wilderness Safaris
By: James E. Austin, Megan Epler Woods and Herman B. Leonard
Book abstract: This volume is the culmination of many discussions among the editors over the years, especially at the Sustainability, Ethics and Entrepreneurship (SEE) Conference, related to the growth and institutionalization of environmental and social...
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- January 2022
- Background Note
Residual Income Valuation Model
By: Charles C.Y. Wang and Albert Shin
This note explains the residual income valuation model (RIM), how it relates to "traditional" valuation models, the intuition behind its use, and empirical research related to its value relevance. RIM is theoretically equivalent to the dividend discount model and the...
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- Article
The Translucent Hand of Managed Ecosystems: Engaging Communities for Value Creation and Capture
By: Elizabeth J. Altman, Frank Nagle and Michael Tushman
Management research has increasingly explored the domains of ecosystems, platforms, and open/user/distributed innovation—governance structures focused on engaging with external communities. While these research areas include substantial empirical and theoretical work...
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- December 2021
- Article
The Evolutionary Nature of Breakthrough Innovation: An Empirical Investigation of Firm Search Strategies
By: Dominika Kinga Randle and Gary P. Pisano
Breakthrough innovation has been an important topic of study for generations of scholars. Previous research in this domain has focused on exploring the way breakthroughs emerge from cumulative combination and recombination of prior technologies and knowledge components...
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- November 5, 2021
- Article
Leaders: Stop Confusing Correlation with Causation
By: Michael Luca
We’ve all been told that correlation does not imply causation. Yet many business leaders, elected officials, and media outlets still make causal claims based on misleading correlations. These claims are too often unscrutinized, amplified, and mistakenly used to guide...
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- September–October 2021
- Article
Frontiers: Can an AI Algorithm Mitigate Racial Economic Inequality? An Analysis in the Context of Airbnb
By: Shunyuan Zhang, Nitin Mehta, Param Singh and Kannan Srinivasan
We study the effect of Airbnb’s smart-pricing algorithm on the racial disparity in the daily revenue earned by Airbnb hosts. Our empirical strategy exploits Airbnb’s introduction of the algorithm and its voluntary adoption by hosts as a quasi-natural experiment. Among...
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- October 2021
- Article
Overcoming the Cold Start Problem of CRM Using a Probabilistic Machine Learning Approach
By: Nicolas Padilla and Eva Ascarza
The success of Customer Relationship Management (CRM) programs ultimately depends on the firm's ability to understand consumers' preferences and precisely capture how these preferences may differ across customers. Only by understanding customer heterogeneity, firms can...
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- 2021
- Article
An Empirical Examination of Sell-Side Brokerage Analysts' Published Research, Concierge Services, and High-Touch Services
By: David A. Maber, Boris Groysberg and Paul M. Healy
This paper uses a proprietary panel dataset to categorize and quantify the activities that sell-side brokerage analysts use to build and sustain their network of buy-side client relations. We then examine the marginal impact of these activities on key analyst outcome...
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- September 2021
- Article
Income More Reliably Predicts Frequent Than Intense Happiness
By: Jon M. Jachimowicz, Ruo Mo, Adam Eric Greenberg, Bertus Jeronimus and Ashley V. Whillans
There is widespread consensus that income and subjective well-being are linked, but when and why they are connected is subject to ongoing debate. We draw on prior research that distinguishes between the frequency and intensity of happiness to suggest that higher income...
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- Fall 2021
- Article
When to Go and How to Go? Founder and Leader Transitions in Private Equity Firms
By: Josh Lerner and Diana Noble
Leadership transition in private equity firms is an understudied field, despite the important, albeit controversial, role such firms play in developed economies. We analyzed 260 firms in an empirical study, supplemented by qualitative interviews with a small sample of...
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- August 2021
- Article
Multiple Imputation Using Gaussian Copulas
By: F.M. Hollenbach, I. Bojinov, S. Minhas, N.W. Metternich, M.D. Ward and A. Volfovsky
Missing observations are pervasive throughout empirical research, especially in the social sciences. Despite multiple approaches to dealing adequately with missing data, many scholars still fail to address this vital issue. In this paper, we present a simple-to-use...
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- June 2021
- Article
Cognition and Emotion in Extreme Political Action: Individual Differences and Dynamic Interactions
By: Leor Zmigrod and Amit Goldenberg
Who is most likely to join and engage in extreme political action? While traditional theories have focused on situational factors or group identity attributes, an emerging science illustrates that tendencies for extreme political action may also be rooted in...
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