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- September 16, 2022
- Article
A Causal Test of the Strength of Weak Ties
By: Karthik Rajkumar, Guillaume Saint-Jacques, Iavor I. Bojinov, Erik Brynjolfsson and Sinan Aral
The authors analyzed data from multiple large-scale randomized experiments on LinkedIn’s People You May Know algorithm, which recommends new connections to LinkedIn members, to test the extent to which weak ties increased job mobility in the world’s largest...
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- 2022
- Working Paper
Come Together: Firm Boundaries and Delegation
By: Raffaella Sadun, Laura Alfaro, Nicholas Bloom, Paola Conconi, Harald Fadinger, Patrick Legros, Andy Newman and John Van Reenen
We develop an incomplete-contracts model to jointly study firm boundaries and the allocation of decision rights within them. Integration has an option value: it gives firm owners authority to delegate or centralize decision rights, depending on who can best solve...
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- August 29, 2022
- Other Article
Income Inequality Is Rising. Are We Even Measuring It Correctly?
By: Jon M. Jachimowicz, K. Blesch and Oliver P. Hauser
Income inequality is on the rise in many countries around the world, according to the United Nations. What’s more, disparities in global income were exacerbated by the COVID-19 pandemic, with some countries facing greater economic losses than others.
Policymakers...
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- 2022
- Working Paper
Private Equity Fund Valuation Management during Fundraising
By: Brian K. Baik
I investigate whether and how private equity fund managers (GPs) inflate their interim fund valuations (net asset values, or NAVs) during fundraising periods. Specifically, I study the extent to which the GPs inflate NAVs by managing valuation assumptions (e.g.,...
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- August, 2022
- Article
Billing and Insurance-Related Administrative Costs: A Cross-National Analysis
By: Barak D. Richman, Robert S. Kaplan, Japees Kohli, Dennis Purcell, Mahek Shah, Igna Bonfrer, Brian Golden, Rosemary Hannam, Will Mitchell, Daniel Cehic, Garry Crispin and Kevin A. Schulman
Billing and insurance-related costs are a significant source of wasteful health care spending in Organization for Economic Cooperation and Development nations, but these administrative burdens vary across national systems. We executed a microlevel accounting of these...
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- 2022
- Working Paper
Do Job Seekers Value Diversity Information? Evidence from a Field Experiment and Human Capital Disclosures
By: Jung Ho Choi, Joseph Pacelli, Kristina M. Rennekamp and Sorabh Tomar
We examine how information about the diversity of a potential employer’s workforce affects individuals’ job-seeking behavior. We embed a field experiment in job recommendation emails sent from a leading career advice agency in the U.S. The experimental treatment...
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- 2022
- Working Paper
Overreaction and Diagnostic Expectations in Macroeconomics
By: Pedro Bordalo, Nicola Gennaioli and Andrei Shleifer
We present the case for the centrality of overreaction in expectations for addressing important challenges in finance and macroeconomics. First, non-rational expectations by market participants can be measured and modeled in ways that address some of the key challenges...
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- August 2022
- Article
Trends in Remote Patient Monitoring Use in Traditional Medicare
By: Mitchell Tang, Carter Nakamoto, Ariel Dora Stern and Ateev Mehrotra
Remote patient monitoring (RPM), the collection by patients of physiological measurements that are automatically sent to their health care practitioners, has been touted as a promising tool for improving chronic disease management. Interest in RPM has grown because of...
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- 2022
- Working Paper
Dynamic Pricing and Demand Volatility: Evidence from Restaurant Food Delivery
By: Alexander J. MacKay, Dennis Svartbäck and Anders G. Ekholm
Pricing technology that allows firms to rapidly adjust prices has two potential benefits. Prices can respond more rapidly to demand shocks, leading to higher revenues. On the other hand, time-varying prices can be used to smooth out demand across periods, reducing...
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- 2022
- Working Paper
Failing Just Fine: Assessing Careers of Venture Capital-backed Entrepreneurs via a Non-wage Measure
By: Natee Amornsiripanitch, Paul Gompers, George Hu, Will Levinson and Vladimir Mukharlyamov
This paper proposes a non-pecuniary measure of career achievement, Seniority. Based on a database of over 5 million resumes, this metric exploits the variation in job titles and how long they take to attain. When non-monetary factors influence career choice, inference...
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- July, 2022
- Article
Telehealth Visits After Shoulder Surgery: Higher Patient Satisfaction and Lower Costs
By: Evan A. O'Donnell, Jillian E. Haberli, Andres Muniz Martinez, Daniel Yagoda, Robert S. Kaplan and Jon J.P. Warner
Purpose and Methods: The study compared the cost of telemedicine visits with in-person clinic visits for routine follow-up after common shoulder surgeries. It also evaluated the safety and patient experience with telemedicine visits. Time-driven activity-based costing...
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- July 2022
- Article
The Pass-Through of Uncertainty Shocks to Households
By: Marco Di Maggio, Amir Kermani, Rodney Ramcharan, Vincent Yao and Edison Yu
Using new employer-employee matched data, this paper investigates the impact of uncertainty, as measured by idiosyncratic stock market volatility, on individual outcomes. We find that firms provide at best partial insurance to their workers. An increase in firm-level...
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Keywords:
Employment Risk;
Consumption;
Employment;
Risk and Uncertainty;
System Shocks;
Insurance;
Household;
Spending
- 2022
- Working Paper
The Effectiveness of Digital Interventions on COVID-19 Attitudes and Beliefs
By: Susan Athey, Kristen Grabarz, Michael Luca and Nils Wernerfelt
During the course of the COVID-19 pandemic, a common strategy for public health organizations around the world has been to launch interventions via advertising campaigns on social media. Despite this ubiquity, little has been known about their average effectiveness. We...
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- June 2022
- Article
Conservatism Gets Funded? A Field Experiment on the Role of Negative Information in Novel Project Evaluation
By: Jacqueline N. Lane, Misha Teplitskiy, Gary Gray, Hardeep Ranu, Michael Menietti, Eva C. Guinan and Karim R. Lakhani
The evaluation and selection of novel projects lies at the heart of scientific and technological innovation, and yet there are persistent concerns about bias, such as conservatism. This paper investigates the role that the format of evaluation, specifically information...
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- 2022
- Working Paper
Measuring the Tolerance of the State: Theory and Application to Protest
By: Veli Andirin, Yusuf Neggers, Mehdi Shadmehr and Jesse M. Shapiro
We develop a measure of a regime's tolerance for an action by its citizens. We ground our measure in an economic model and apply it to the setting of political protest. In the model, a regime anticipating a protest can take a costly action to repress it. We define the...
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- May 2022
- Supplement
Borusan CAT: Monetizing Prediction in the Age of AI (B)
By: Navid Mojir and Gamze Yucaoglu
Borusan Cat is an international distributor of Caterpillar heavy machines. In 2021, it had been three years since Ozgur Gunaydin (CEO) and Esra Durgun (Director of Strategy, Digitization, and Innovation) started working on Muneccim, the company’s predictive AI tool....
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- May 2022 (Revised August 2022)
- Case
LOOP: Driving Change in Auto Insurance Pricing
By: Elie Ofek and Alicia Dadlani
John Henry and Carey Anne Nadeau, co-founders and co-CEOs of LOOP, an insurtech startup based in Austin, Texas, were on a mission to modernize the archaic $250 billion automobile insurance market. They sought to create equitably priced insurance by eliminating pricing...
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- Article
Early Withdrawal of Pandemic Unemployment Insurance: Effects on Earnings, Employment and Consumption
By: Kyle Coombs, Arindrajit Dube, Calvin Jahnke, Raymond Kluender, Suresh Naidu and Michael Stepner
In June 2021, 22 states ended all supplemental pandemic unemployment insurance (UI) benefits, eliminating benefits entirely for over 2 million workers and reducing benefits by $300 per week for over 1 million workers. Using anonymous bank transaction data and a...
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- May 2022
- Article
How Status of Research Papers Affects the Way They Are Read and Cited
By: Misha Teplitskiy, Eamon Duede, Michael Menietti and Karim R. Lakhani
Although citations are widely used to measure the influence of scientific works, research shows that many citations serve rhetorical functions and reflect little-to-no influence on the citing authors. If highly cited papers disproportionately attract rhetorical...
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Keywords:
Metrics;
Influence;
Status;
Citations;
Science;
Measurement and Metrics;
Research;
Perception
- Article
The Cross Section of Bank Value
By: Mark Egan, Stefan Lewellen and Adi Sunderam
We study the determinants of value creation in U.S. commercial banks. We develop novel measures of individual banks' productivities at collecting deposits and making loans. We relate these measures to bank market values and find that deposit productivity is responsible...
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