Leadership & Organizational Behavior

By comparing reality to what might have been, counterfactuals promote a relational processing style characterized by a tendency to consider relationships and associations among a set of stimuli. As such, counterfactual mind-sets were expected to improve performance on tasks involving the consideration of relationships and associations but to impair performance on tasks requiring novel ideas that are uninfluenced by salient associations. The authors conducted several experiments to test this hypothesis.

Not all first impressions have equal longevity. Which kinds of impression have the greatest mobility--downward and upward--over the course of acquaintanceships? Previous research has indicated that first impressions of extraversion (E) have greater longitudinal stability than first impressions of other Big Five traits: agreeableness (A), conscientiousness (C), emotional stability (ES), and openness (O). In this article, we propose an inferential account of E impression stability.

How can an investor learn from poker experts David Slansky and Puggy Pearson? What does guppy mate selection tell us about stock market booms? Do Tupperware parties have anything to tell us about how we select stocks? These are just some of the questions Michael Mauboussin considers in More Than You Know.

Counter to the "start high, end high" effect of anchors in individual judgments and dyadic negotiations, 6 studies using a diverse set of methodologies document how and why, in the social setting of auctions, lower starting prices result in higher final prices. Three processes contribute to this effect. First, lower starting prices reduce barriers to entry, which increase traffic and generate higher final prices. Second, lower starting prices entice bidders to invest time and energy (creating sunk costs) and, consequently, escalate their commitments.

The conference paper by Johnson (2006, Review of Accounting Studies, forthcoming) develops an incomplete-contracting transfer pricing model with a number of novel features: taxation, sequential investments, and intangible assets being transferred. This discussion aims to disentangle these features so as to highlight those that are the key drivers of the results. Moreover, I show that some of the results can be generalized to settings involving a greater level of technological interdependency between the divisions.

The authors posit that women can rely on self-monitoring to overcome negative gender stereotypes in certain performance contexts. In a study of mixed-sex task groups, the authors found that female group members who were high self-monitors were considered more influential and more valuable contributors than women who were low self-monitors. Men benefited relatively less from self-monitoring behavior.

Recent empirical research documents that the strong short-term relationship between U.S. monetary aggregates on one side and inflation and real output on the other has mostly disappeared since the early 1980s. Using the direct estimate of flows of U.S. dollars abroad we find that domestic money (currency corrected for the foreign holdings of dollars) contains valuable information about future movements of U.S. inflation and real output.

We examine the pricing of aggregate volatility risk in the cross-section of stock returns. Consistent with theory, we find that stocks with high sensitivities to innovations in aggregate volatility have low average returns. Stocks with high idiosyncratic volatility relative to the Fama and French (1993, Journal of Financial Economics 25, 2349) model have abysmally low average returns. This phenomenon cannot be explained by exposure to aggregate volatility risk.

Narcissism has received increased attention in the past few decades as a sub-clinical individual difference with important everyday consequences, such as self-enhancement in perceptions of one's own behavior and attributes. The most widespread measure used by non-clinical researchers, the 40-item Narcissistic Personality Inventory or NPI-40, captures a range of different facets of the construct but its length may prohibit its use in settings where time pressure and respondent fatigue are major concerns.