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  • 2021
  • Working Paper

How Important is Editorial Gatekeeping? Evidence from Top Biomedical Journals
By: Joshua L. Krieger, Kyle R. Myers and Ariel D. Stern
We examine editors' influence on the scientific content of academic journals by unpacking the role of three major forces: journals' missions, aggregate supply of and demand for specific topics, and scientific homophily via editorial gatekeeping. In a sample of top...  View Details
Keywords: Jobs and Positions; Operations; Information Publishing; Analysis
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  • September 2020
  • Case

Keeping It in the Family at the Hayden Saw Company
By: V.G. Narayanan and John Masko
In 2019, Board Chair and third-generation shareholder Helen Fullerton was preparing for a meeting to discuss Ohio-based Hayden Saw Company’s (Hayden) future as a family business. As the company entered its fifth decade, the Hayden family was dealing with three distinct...  View Details
Keywords: Family Business; Corporate Governance; Family Ownership; Business and Shareholder Relations; Family and Family Relationships; Governing and Advisory Boards; Construction Industry; Ohio; United States
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  • December 2019
  • Article

The Impact of Increasing Search Frictions on Online Shopping Behavior: Evidence from a Field Experiment
By: Donald Ngwe, Kris J. Ferreira and Thales Teixeira
Many online stores are designed such that shoppers can easily access any available discounted products. We propose that deliberately increasing search frictions by placing small obstacles to locating discounted items can improve online retailers’ margins and even...  View Details
Keywords: E-commerce; Online Retailing; Friction; Effor; Search Costs; Price Discrimination; Marketing; Consumer Behavior; Strategy; Price; Retail Industry; Fashion Industry
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  • October 2019
  • Article

Limited Investment Capital and Credit Spreads
By: Emil N. Siriwardane
Using proprietary credit default swap (CDS) data, I investigate how capital shocks at protection sellers impact pricing in the CDS market. Seller capital shocks—measured as CDS portfolio margin payments—account for 12% of the time-series variation in weekly spread...  View Details
Keywords: Credit Risk; Derivatives; Credit Derivatives and Swaps; Capital Markets; Credit; Financial Institutions
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  • 2019
  • Chapter

Coordination Frictions in Venture Capital Syndicates
By: Ramana Nanda and Matthew Rhodes-Kropf
An extensive literature on venture capital has studied asymmetric information and agency problems between investors and entrepreneurs, examining how separating entrepreneurs from the investor can create frictions that might inhibit the funding of good projects. It has...  View Details
Keywords: Syndication; Frictions; Venture Capital; Networks; Entrepreneurship
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  • August 2019 (Revised April 2021)
  • Case

Unifying Divisions: Joro's Mission to Preserve the Planet
By: Shikhar Ghosh and Marilyn Morgan Westner
The case focuses on the initial startup team and Founders’ agreements. In March 2018, Sanchali Pal proposed renegotiating the informal founders’ agreement and equity split she and her co-founders had drafted the previous spring. They had been working together for over...  View Details
Keywords: Founders' Agreements; Business Startups; Climate Change; Agreements and Arrangements; Conflict Management
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  • 2020
  • Working Paper

Networking Frictions in Venture Capital, and the Gender Gap in Entrepreneurship
By: Sabrina T. Howell and Ramana Nanda
We find that male participants in Harvard Business School’s New Venture Competition who were randomly exposed to more VC investors on their panel were substantially more likely to start a VC-backed startup post-graduation, indicating that access to investors impacts...  View Details
Keywords: Networks; Information Frictions; Entrepreneurship; Gender; Venture Capital
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  • April 2019
  • Article

Internalizing Global Value Chains: A Firm-Level Analysis
By: Laura Alfaro, Pol Antràs, Davin Chor and Paola Conconi
In recent decades, advances in information and communication technology and falling trade barriers have led firms to retain within their boundaries and in their domestic economies only a subset of their production stages. A key decision facing firms worldwide is the...  View Details
Keywords: Global Value Chains; Sequential Production; Incomplete Contracts; Demand and Consumers; Customer Value and Value Chain; Globalization
Related
  • 2019
  • Working Paper

The Impact of Increasing Search Frictions on Online Shopping Behavior: Evidence from a Field Experiment
By: Donald Ngwe, Kris J. Ferreira and Thales Teixeira
Many online stores are designed such that shoppers can easily access any available discounted products. We propose that deliberately increasing search frictions by placing small obstacles to locating discounted items can improve online retailers’ margins and even...  View Details
Keywords: E-commerce; Online Retailing; Friction; Effor; Search Costs; Price Discrimination; Consumer Behavior; Price; Search Technology
Related
  • 2020
  • Working Paper

The Salary Taboo: Privacy Norms and the Diffusion of Information
By: Zoë B. Cullen and Ricardo Perez-Truglia
The limited diffusion of salary information has implications for labor markets, such as wage discrimination policies and collective bargaining. Access to salary information is believed to be limited and unequal, but there is little direct evidence on the sources of...  View Details
Keywords: Search Costs; Privacy; Norms; Compensation; Financial Industry; Field Experiment; Compensation and Benefits; Knowledge Dissemination; Societal Protocols
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  • Fall 2018
  • Article

The Value of Fit Information in Online Retail: Evidence from a Randomized Field Experiment
By: Santiago Gallino and Antonio Moreno
Online channels generate frictions when selling products with nondigital attributes, such as apparel. Customers may be reluctant to purchase products they have not been able to try on, and those customers who do purchase may return products when they do not fit as...  View Details
Keywords: Supply Chain Information; Fit Uncertainty; Online Retail; Randomized Field Experiment; Virtual Fitting Room; Digital Retail; Customization and Personalization; Online Technology; Value; Performance Improvement; Apparel and Accessories Industry; Retail Industry
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  • 2017
  • Article

Frictions or Mental Gaps: What's Behind the Information We (Don't) Use and When Do We Care?
By: Benjamin Handel and Joshua Schwartzstein
Consumers suffer significant losses from not acting on available information. These losses stem from frictions such as search costs, switching costs, and rational inattention, as well as what we call mental gaps resulting from wrong priors/worldviews, or relevant...  View Details
Keywords: Information; Consumer Behavior
Related
  • July 2017
  • Article

Inflation Expectations, Learning, and Supermarket Prices: Evidence from Survey Experiments
By: Alberto Cavallo, Guillermo Cruces and Ricardo Perez-Truglia
Information frictions play a central role in the formation of household inflation expectations, but there is no consensus about their origins. We address this question with novel evidence from survey experiments. We document two main findings. First, individuals in...  View Details
Keywords: Inflation Expectations; Survey Experiment; Rational Inattention; Supermarkets; Macroeconomics; Household; Inflation and Deflation; Policy
Related
  • 2018
  • Working Paper

Coordination Frictions in Venture Capital Syndicates
By: Ramana Nanda and Matthew Rhodes-Kropf
An extensive literature on venture capital has studied asymmetric information and agency problems between investors and entrepreneurs, examining how separating entrepreneurs from the investor can create frictions that might inhibit the funding of good projects. It has...  View Details
Keywords: Syndication; Venture Capital; Networks; Entrepreneurship
Related
  • 2017
  • Working Paper

Internalizing Global Value Chains: A Firm-Level Analysis
By: Laura Alfaro, Pol Antràs, Davin Chor and Paola Conconi
In recent decades, advances in information and communication technology and falling trade barriers have led firms to retain within their boundaries and in their domestic economies only a subset of their production stages. A key decision facing firms worldwide is the...  View Details
Keywords: Global Value Chains; Sequential Production; Incomplete Contracts; Demand and Consumers; Customer Value and Value Chain; Globalization
Related
  • Fall 2014
  • Article

How to Win in an Omnichannel World
By: David R. Bell, Santiago Gallino and Antonio Moreno
The omnichannel environment presents new challenges and opportunities for both information and product fulfillment. While all retailers need to effectively and efficiently manage fulfillment and information provision, there are important nuances to how this happens,...  View Details
Keywords: Supply Chain Management; Customer Relationship Management; Marketing; Marketing Strategy; United States
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  • August 2014
  • Article

The New Empirical Economics of Management
By: Nicholas Bloom, Renata Lemos, Raffaella Sadun, Daniela Scur and John Van Reenen
Over the last decade the World Management Survey (WMS) has collected firm-level management practices data across multiple sectors and countries. We developed the survey to try to explain the large and persistent TFP differences across firms and countries. This review...  View Details
Keywords: Management Practices and Processes; Performance Productivity; Microeconomics
Related
  • 2014
  • Working Paper

The New Empirical Economics of Management
By: Nicholas Bloom, Renata Lemos, Raffaella Sadun, Daniela Scur and John Van Reenen
Over the last decade the World Management Survey (WMS) has collected firm-level management practices data across multiple sectors and countries. We developed the survey to try to explain the large and persistent TFP differences across firms and countries. This review...  View Details
Keywords: Management; Organization; Productivity; Management Practices and Processes; Performance Productivity; Microeconomics
Related
  • 2014
  • Working Paper

The New Empirical Economics of Management
By: Nicholas Bloom, Renata Lemos, Raffaella Sadun, Daniela Scur and John Van Reenen
Over the last decade the World Management Survey (WMS) has collected firm-level management practices data across multiple sectors and countries. We developed the survey to try to explain the large and persistent TFP differences across firms and countries. This review...  View Details
Keywords: Management Practices and Processes; Performance Productivity; Microeconomics
Related
  • June 1999
  • Teaching Note

Global Friction Among Information Infrastructures TN
By: George C. Lodge
Teaching Note for (9-799-152).  View Details
Keywords: Information Technology Industry
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