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Columbia Business School Research

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At the Forefront of Their Fields
The Columbia Advantage

At Columbia Business School, our faculty members are at the forefront of research in their respective fields, offering innovative ideas that directly impact business practice today. A glance at our publication on faculty research, CBS Insights, will give you a sense of the breadth and immediacy of the insight our professors provide.

Columbia Business School in conjunction with the Office of the Dean provides its faculty, PhD students, and other research staff with resources and cutting edge tools and technology to help push the boundaries of business research.

Specifically, our goal is to seamlessly help faculty set up and execute their research programs. This includes, but is not limited to:

  • Highly skilled staff of full-time predoctoral fellows, summer research interns, and part-time research assistants
  • Access to centralized funding from the Dean's office and external grants to support research activities
  • Providing a state-of-the-art high-performance grid computing environment
  • Acquisition of proprietary data sets and access to various databases
  • Leading library which provides faculty with latest tools and techniques to enable digital scholarship

All these activities help to facilitate and streamline faculty research, and that of the doctoral students working with them.

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Type
Journal Article
Date
2014
Journal
Social Psychology Quarterly

When Trust Backfires: Trust and Trust Repair after Trust Violations

Author
Vogt, Sonja, Motoki Watabe, and Asuka Komiya
While much research has examined the role trust plays in building relationships, much less attention has been paid to how it affects re-building relationships. We investigated how the initial level of trust moderates trust after early versus late defections in repeated two-person Prisoner's Dilemma games. We manipulated trust experimentally by priming high vs. low trust, measured dispositional trust pre-experimentally, and compared cross-cultural differences in trust between the United States and Japan.
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Type
Journal Article
Date
2014
Journal
Journal of Risk and Uncertainty

Why Chinese discount future financial and environmental gains but not losses more than Americans

Author
Gong, Min, David Krantz, and Elke Weber

Understanding country differences in temporal discounting is critical for extending incentive-based environmental policies successfully from developed countries to developing countries. We examined differences between Chinese and Americans in discounting of future financial and environmental gains and losses. In general, environmental use value was discounted significantly more than the monetary values, but environmental existence value was discounted similarly to the monetary values. Confirming previous research, we found that participants discounted gains significantly more than losses.

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Type
Journal Article
Date
2014

Why MOOCs are Anti-Innovation

Author
Noam, Eli

The article describes the potential negative consequences of the courses about academia, and especially the danger of weakening research and the innovation system of research universities. The MOOC courses may disrupt the structure of higher education because their business model is effective in de-linking the three components of an active University: teaching, research, and approval of credit for degree-granting courses. In the end, the article offers universities several ways to deal with the negative consequences of these MOOC courses.

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Type
Journal Article
Date
2013
Journal
PLoS ONE

Can Consumers Make Affordable Care Affordable? The Value of Choice Architecture

Author
Johnson, Eric, Ran Hassin, Tom Baker, Allison Bajger, and Galen Treuer

Tens of millions of people are currently choosing health coverage on a state or federal health insurance exchange as part of the Patient Protection and Affordable Care Act. We examine how well people make these choices, how well they think they do, and what can be done to improve these choices. We conducted 6 experiments asking people to choose the most costeffective policy using websites modeled on current exchanges. Our results suggest there is significant room for improvement.

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Type
Journal Article
Date
2013
Journal
Management Science

Salesforce Compensation with Inventory Considerations

Author
Dai, Tinglong and Kinshuk Jerath

We study a scenario in which a firm designs the compensation contract for a salesperson who exerts unobservable effort to increase the level of uncertain demand and, jointly, the firm also decides the inventory level to be stocked. We use a newsvendor-type model in which actual sales depend on the realized demand but are limited by the inventory available, and unfulfilled demand cannot be observed. In this setup, under the optimal contract, the agent is paid a bonus for meeting a sales quota.

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Type
Journal Article
Date
2013
Journal
China Journal of Accounting Research

A Fundamentalist Perspective on Accounting and Implications for Accounting Research

Author
Jiang, Guohua and Stephen Penman

This paper presents a framework for addressing normative accounting issues for reporting to shareholders. The framework is an alternative to the emerging Conceptual Framework of the International Accounting Standards Board and the Financial Accounting Standards Board. The framework can be broadly characterized as a utilitarian approach to accounting standard setting. It has two main features. First, accounting is linked to valuation models under which shareholders use accounting information to values their stakes.

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Type
Journal Article
Date
2013
Journal
Review of Financial Studies

Asset Pricing in the Dark: The Cross Section of OTC Stocks

Author
Ang, Andrew, Assaf Shtauber, and Paul Tetlock

Over-the-counter (OTC) stocks are far less liquid, disclose less information, and exhibit lower institutional holdings than listed stocks. We exploit these different market conditions to test theories of cross-sectional return premiums. Compared to premiums in listed markets, the OTC illiquidity premium is several times higher, the size, value, and volatility premiums are similar, and the momentum premium is three times lower.

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Type
Journal Article
Date
2013
Journal
Review of Accounting Studies

Returns to Buying Earnings and Book Value: Accounting for Growth and Risk

Author
Penman, Stephen and Francesco Reggiani

Historical cost accounting deals with uncertainty by deferring the recognition of earnings until the uncertainty has largely been resolved. Such accounting affects both earnings and book value and produces expected earnings growth deemed to be at risk. This paper shows that the earnings-to-price and book-to-price ratios that are the product of this accounting forecast both earnings growth and the risk to that growth.

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Type
Journal Article
Date
2013
Journal
International Journal of Research in Marketing

The Influence of Ad-Evoked Feelings on Brand Evaluations: Empirical Generalizations from Consumer Responses to More Than 1,000 TV Commercials

Author
Pham, Michel Tuan, Maggie Geuens, and Patrick De Pelsmaker

It has been observed that ad-evoked feelings exert a positive influence on brand attitudes. To investigate the empirical generalizability of this phenomenon, we analyzed the responses of 1,576 consumers to 1,070 TV commercials from more than 150 different product categories. The findings suggest five empirical generalizations. First, ad-evoked feelings indeed have a substantial impact on brand evaluations, even under conditions that better approximate real marketplace settings than past studies did.

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Type
Journal Article
Date
2013
Journal
Journal of Personality and Social Psychology

From the ephemeral to the enduring: How approach-oriented mindsets lead to greater status

Author
Kilduff, G. and Adam Galinsky

We propose that the psychological states individuals bring into newly formed groups can produce meaningful differences in status attainment. Three experiments explored whether experimentally created approach-oriented mindsets affected status attainment in groups, both immediately and over time. We predicted that approach-oriented states would lead to greater status attainment by increasing proactive behavior.

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Type
Journal Article
Date
2013
Journal
Psychological Science

Nonverbal expressions of status and system legitimacy: An interactive influence on race bias

Author
Weisbuch, M., Michael Slepian , C.P. Eccleston, and N. Ambady
A voluminous literature has examined how primates respond to nonverbal expressions of status, such as taking the high ground, expanding one's posture, and tilting one's head. We extend this research to human intergroup processes in general and interracial processes in particular. Perceivers may be sensitive to whether racial group status is reflected in group members' nonverbal expressions of status.
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Type
Journal Article
Date
2013
Journal
Psychological Science

Quality of professional players' poker hands is perceived accurately from arm motions

Author
Slepian, Michael, S.G. Young, A.M. Rutchick, and N. Ambady
In the card game of poker, players attempt to disguise cues to the quality of their hand, either by concealment (e.g., adopting the well-known, expressionless "poker face") or by deception. Recent work, however, demonstrates that motor actions can sometimes betray intentions. The same action can have different movement dynamics depending on the underlying intention (Becchio, Sartori, & Castiello, 2010), and these subtle differences can be decoded by observers (Becchio, Manera, Sartori, Cavallo, & Castiello, 2012; Sartori, Becchio, & Castiello, 2011).
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Type
Journal Article
Date
2013
Journal
Theory and Society

Social stratification in transitional economies: property rights and the structure of markets

Author
Wang, Dan

In transitions from state socialism, property rights are re-allocated to organizations and groups, creating new markets and new forms of economic enterprise that reshape the stratification order. A generation of research has estimated individual-level outcomes with income equations and mobility models, relying on broad assumptions about economic change. We redirect attention to the process of economic change that structures emerging markets.

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Type
Journal Article
Date
2013
Journal
Journal of Experimental Social Psychology

Stand tall, but don't put your feet up: Universal and culturally-specific effects of expansive postures on power

Author
Park, L., L. Streamer, L. Huang, and Adam Galinsky

Previous research suggests that there is a fundamental link between expansive body postures and feelings of power. The current research demonstrates that this link is not universal, but depends on people's cultural background (Western versus East Asian) and on the particular type of expansive posture enacted. Three types of expansive postures were examined in the present studies: the expansive-hands-spread-on-desk pose (Carney et al., 2010), the expansive-upright-sitting pose, and the expansive-feet-on-desk pose (Carney et al., 2010).

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Type
Journal Article
Date
2013
Journal
American Economic Journal: Economic Policy

The Economic and Policy Consequences of Catastrophes

Author
Pindyck, Robert and Neng Wang

How likely is a catastrophic event that would substantially reduce the capital stock, GDP, and wealth? How much should society be willing to pay to reduce the probability or impact of a catastrophe? We answer these questions and provide a framework for policy analysis using a general equilibrium model of production, capital accumulation, and household preferences.

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Type
Journal Article
Date
2013
Journal
Journal of Financial Economics

The Economics of Hedge Funds

Author
Lan, Yingcong, Neng Wang , and Jinqiang Yang

Hedge fund managers trade o the benefits of leveraging on the alpha-generating strategy against the costs of inefficient fund liquidation. In contrast to the standard risk-seeking intuition, even with a constant-return-to-scale alpha-generating strategy, a risk-neutral manager becomes endogenously risk-averse and decreases leverage following poor performance to increase the fund's survival likelihood. Our calibration suggests that management fees are the majority of the total compensation.

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Type
Journal Article
Date
2013

Information Spillovers from Protests against Corporations: A Tale of Walmart and Target.

Author
Yue, Lori

In this study of the impact of protests against Walmart (a first entrant) on Target (a second entrant) from 1998 to 2008 in U.S. geographic markets, we develop and test a theory of information spillovers from protests against corporations proposing to enter a new market. We argue that the number of protests directed against a first entrant is a noisy signal for the second entrant because such protests are likely to be dominated by protest-prone activists and so do not reflect the sentiments of the community.

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Type
Journal Article
Date
2013
Journal
Administrative Science Quarterly

Information Spillovers from Protests Against Corporations: A Tale of Walmart and Target

Author
Yue, Lori Qingyuan, Hayagreeva Rao, and Paul Ingram

In this study of the impact of protests against Walmart (a first entrant) on Target (a second entrant) from 1998 to 2008 in U.S. geographic markets, we develop and test a theory of information spillovers from protests against corporations proposing to enter a new market. We argue that the number of protests directed against a first entrant is a noisy signal for the second entrant because such protests are likely to be dominated by protest-prone activists and so do not reflect the sentiments of the community.

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Type
Journal Article
Date
2013
Journal
Journal of Consumer Research

Conditioned Superstition: Desire for Control and Consumer Brand Preferences

Author
Hamerman, Eric and Gita Johar

If individuals buy a Snickers bar and subsequently see their favorite basketball team begin to play better, they might attribute this improved performance to their purchase decision. Even as consumers acknowledge that this type of control is irrational, we demonstrate that they are willing to superstitiously alter their purchase behavior (by choosing a less-preferred option) in hopes of helping their favorite team.

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Type
Journal Article
Date
2013
Journal
Psychological Science

From glue to gasoline: How competition turns perspective takers unethical

Author
Pierce, J., G. Kilduff, Adam Galinsky , and N. Sivanathan

Perspective taking is often the glue that binds people together. However, we propose that in competitive contexts, perspective taking is akin to adding gasoline to a fire: It inflames already-aroused competitive impulses and leads people to protect themselves from the potentially insidious actions of their competitors. Overall, we suggest that perspective taking functions as a relational amplifier.

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Type
Journal Article
Date
2013
Journal
Journal of Behavioral Decision Making

Good or bad, we want it now: Fixed-cost present bias for gains <em>and</em> losses explains magnitude asymmetries in intertemporal choice

Author
Hardisty, D., Kirstin Appelt, and Elke Weber
Intertemporal tradeoffs are ubiquitous in decision making, yet preferences for current versus future losses are rarely explored in empirical research. Whereas rational-economic theory posits that neither outcome sign (gains vs. losses) nor outcome magnitude (small vs. large) should affect delay discount rates, both do, and moreover, they interact: in three studies, we show that whereas large gains are discounted less than small gains, large losses are discounted more than small losses.
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Type
Journal Article
Date
2013

Risk, Uncertainty and Monetary Policy

Author
Bekaert, Geert, Marie Hoerova, and Marco Lo Duca

The VIX, the stock market option-based implied volatility, strongly co-moves with measures of the monetary policy stance. When decomposing the VIX into two components, a proxy for risk aversion and expected stock market volatility (“uncertainty”), we find that a lax monetary policy decreases both risk aversion and uncertainty, with the former effect being stronger.

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Type
Journal Article
Date
2013
Journal
Psychological Science

The reappropriation of stigmatizing labels: The reciprocal relationship between power and self-labeling

Author
Galinsky, Adam, C.S. Wang, J. Whitson, Eric M. Anicich, K. Hugenberg, and G. Bodenhausen

We present a theoretical model of reappropriation — taking possession of a slur previously used exclusively by dominant groups to reinforce another group's lesser status. Ten experiments tested this model and established a reciprocal relationship between power and self-labeling with a derogatory group term. We first investigated precursors to self-labeling: Group, but not individual, power increased participants' willingness to label themselves with a derogatory term for their group. We then examined the consequences of such self-labeling for both the self and observers.

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Type
Journal Article
Date
2013
Journal
Journal of Consumer Psychology

The Seven Sins of Consumer Psychology

Author
Pham, Michel Tuan

Consumer psychology faces serious issues of internal and external relevance. Most of these issues originate in seven fundamental problems with the way consumer psychologists plan and conduct their research that could be called the seven sins of consumer psychology.

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Type
Journal Article
Date
2013

The impact of pharmaceutical innovation on longevity and medical expenditure in Sweden, 1997-2010: evidence from longitudinal, disease-level data

Author
Lichtenberg, Frank and Billie Pettersson

We use longitudinal, disease-level data to analyze the impact of pharmaceutical innovation on longevity and medical expenditure in Sweden, where mean age at death increased by 1.88 years during the period 1997-2010. Pharmaceutical innovation is estimated to have increased mean age at death by 0.60 years during the period. The estimates indicate that longevity depends on the number of drugs to treat a disease, not the number of drug classes.

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Type
Journal Article
Date
2013
Journal
Journal of Money, Credit and Banking

Asymmetric Labor Market Institutions in the EMU and the Volatility of Inflation and Unemployment Differentials

Author
Abbritti, Mirko
How does the asymmetry of labor market institutions affect the adjustment of a currency union to shocks? To answer this question, this paper sets up a dynamic currency union model with monopolistic competition and sticky prices, hiring frictions and real wage rigidities. In our analysis, we focus on the differentials in inflation and unemployment between countries, as they directly reflect how the currency union responds to shocks.
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Type
Journal Article
Date
2013
Journal
Quantitave Marketing and Economics

Buying and Selling Information under Competition

Author
Xiang, Yi and Miklos Sarvary

Markets for information products exhibit varying degrees of competition on both the supply and the demand side. This paper studies the potential complementarity of information products, equilibrium information buying behaviors and information price setting in such markets. Our game-theoretic model consists of two information providers selling imperfect information to two competing clients and allows for different information quality levels as well as varying degrees of client competition.

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Type
Journal Article
Date
2013
Journal
Journal of Public Policy & Marketing

Choice without Awareness: Ethical and Policy Implications of Defaults

Author
N. Smith, Craig, Daniel Goldstein, and Eric Johnson

Defaults have such powerful and pervasive effects on consumer behavior that they could be considered “hidden persuaders” in some settings. Ignoring defaults is not a sound option for marketers or consumer policy makers. The authors identify three theoretical causes of default effects—implied endorsement, cognitive biases, and effort—to guide thought on the appropriate marketer and policy maker responses to the issues posed for consumer welfare and consumer autonomy, including proposals for benign “nudges” of behavior.

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Type
Journal Article
Date
2013
Journal
Psychology and Aging

Complementary Cognitive Capabilities, Economic Decision-Making, and Aging

Author
Li, Ye, M. Baldassi, Eric Johnson , and Elke Weber
Fluid intelligence decreases with age, yet evidence about age declines in decision-making quality is mixed: Depending on the study, older adults make worse, equally good, or even better decisions than younger adults. We propose a potential explanation for this puzzle, namely that age differences in decision performance result from the interplay between two sets of cognitive capabilities that impact decision making, one in which older adults fare worse (i.e., fluid intelligence) and one in which they fare better (i.e., crystallized intelligence).
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Type
Journal Article
Date
2013
Journal
Public Relations Review

Countering accusations with inoculation: The moderating role of consumer-company identification

Author
Einwiller, Sabine and Gita Johar

Accusations of wrongdoing, baseless or justified, can severely tarnish a company's reputation. Once disseminated, even baseless accusations can persist and cause considerable damage for a company. This study examines the proactive crisis communication strategy of inoculating individuals against invalid accusations before they go viral. An experiment was conducted in a real world consumer context among members of an online consumer panel using an electronics discounter as the research stimulus.

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Type
Journal Article
Date
2013
Journal
Journal of Economic Behavior & Organization

Nobody likes a rat: On the willingness to report lies and the consequences thereof

Author
Stephenson, Matt

We investigate the intrinsic motivation of individuals to report, and thereby sanction, fellow group members who lie for personal gain. We further explore the changes in lying and reporting behavior that result from giving individuals a say in who joins their group. We find that enough individuals are willing to report lies such that in fixed groups lying is unprofitable. However, we also find that when groups can select their members, individuals who report lies are generally shunned, even by groups where lying is absent.

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Type
Journal Article
Date
2013
Journal
Journal of Health Economics

The Demand for Health Insurance among Uninsured Americans: Results of a Survey Experiment and Implications for Policy

Author
Krueger, Alan
Most existing work on the demand for health insurance focuses on employees' decisions to enroll in employer-provided plans. Yet any attempt to achieve universal coverage must focus on the uninsured, the vast majority of whom are not offered employer-sponsored insurance. In the summer of 2008, we conducted a survey experiment to assess the willingness to pay for a health plan among a large sample of uninsured Americans. The experiment yields price elasticities of around one, substantially greater than those found in most previous studies.
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Type
Journal Article
Date
2013
Journal
Management Science

The Emergence of Opinion Leaders in a Networked Online Community: A Dyadic Model with Time Dynamics and a Heuristic for Fast Estimation

Author
Lu, Yingda, Kinshuk Jerath , and Param Singh

We study the drivers of the emergence of opinion leaders in a networked community where users establish links to others, indicating their "trust" for the link receiver's opinion. This leads to the formation of a network, with high in-degree individuals being the opinion leaders. We use a dyad-level proportional hazard model with time-varying covariates to model the growth of this network. To estimate our model, we use Weighted Exogenous Sampling with Bayesian Inference, a methodology that we develop for fast estimation of dyadic models on large network data sets.

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Type
Journal Article
Date
2013
Journal
Marketing Science

A Joint Model of Usage and Churn in Contractual Settings

Author
Hardie, Bruce G. S.

The ability to retain existing customers is a major concern for many businesses. However retention is not the only dimension of interest; the revenue stream associated with each customer is another key factor influencing customer profitability.

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Type
Journal Article
Date
2013

Are U.S. Firms Really Holding Too Much Cash?

Author
Hodrick, Laurie Simon
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Type
Journal Article
Date
2013
Journal
American Economic Review: Macroeconomics

Crises and Recoveries in an Empirical Model of Consumption Disasters

Author
Barro, Robert, J&#243;n Steinsson, and Jos&#233; Urs&#250;a
We estimate an empirical model of consumption disasters using new data on consumption for 24 countries over more than 100 years, and study its implications for asset prices. The model allows for partial recoveries after disasters that unfold over multiple years. We find that roughly half of the drop in consumption due to disasters is subsequently reversed. Our model generates a sizable equity premium from disaster risk, but one that is substantially smaller than in simpler models.
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Type
Journal Article
Date
2013
Journal
Journal of Experimental Social Psychology

Delineating a method to study cross-cultural differences with experimental control: The voice effect and countercultural contexts regarding power distance

Author
Van den Bos, Kees, Joel Brockner , M. van den Oudenalder, Shanmukh V. Kamble, and A. Nasabi
This paper proposes a method to study cross-cultural differences with experimental control. We illustrate this method by examining how participants from India (a high power distance culture) and the Netherlands (a low power distance culture) react to being allowed or denied an opportunity to voice their opinions.
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Type
Journal Article
Date
2013
Journal
American Journal of Political Science

Political Quid Pro Quo Agreements: An Experimental Study

Author
Grosser, Jens and Agnieszka Tymula

We experimentally study the common wisdom that money buys political influence. In the game, one special interest (i.e., a corporate firm) has the opportunity to influence redistributive tax policies in her favor by transferring money to two competing candidates. The success of the investment depends on whether or not the candidates are willing and able to collude on low-tax policies that do not harm their relative chances in the elections. In the experiment, successful political influence never materializes when the firm and candidates interact just once.

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Type
Journal Article
Date
2013
Journal
Harvard Business Review

Your Brain at Work

Author
Mason, Malia and Adam Waytz
Most of what you read about neuroscience in the popular media–particularly about parts of the brain “lighting up” and what that indicates–vastly oversimplifies how the brain works and is not instructive at all. Advances in technology and statistics are helping to create a more accurate and informative model of neuroscience. Rather than looking at how individual brain regions activate, this model studies how networks of brain regions work together.
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Type
Journal Article
Date
2013
Journal
Proceedings of the National Academy of Sciences

Numerical Ability Predicts Mortgage Default

Author
Gerardi, Kristopher, Lorenz Goette, and Stephan Meier
Unprecedented levels of US subprime mortgage defaults precipitated a severe global financial crisis in late 2008, plunging much of the industrialized world into a deep recession. However, the fundamental reasons for why US mortgages defaulted at such spectacular rates remain largely unknown. This paper presents empirical evidence showing that the ability to perform basic mathematical calculations is negatively associated with the propensity to default on one's mortgage.
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Type
Journal Article
Date
2013
Journal
Journal of Consumer Research

Affect as a Decision-Making System of the Present

Author
Chang, Hannah and Michel Tuan Pham

We posit that compared to the cognitive system, the affective system of judgment and decision making is relatively more engaged in the present. Specifically, we hypothesize that even if their accessibility is held constant, affective feelings are weighted more heavily in consumer judgments and decisions set in the present than in equivalent judgments and decisions set in the future or in the past.

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Type
Journal Article
Date
2013
Journal
Management Science

An axiomatic approach to systemic risk

Author
Chen, Chen, Garud Iyengar, and Ciamac Moallemi

Systemic risk is an issue of great concern in modern financial markets as well as, more broadly, in the management of complex systems. We propose an axiomatic framework for systemic risk. Our framework allows for an independent specification of (1) a functional of the cross-sectional profile of outcomes across agents in the system in a single scenario of nature, and (2) a functional of the profile of aggregated outcomes across scenarios of nature.

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Type
Journal Article
Date
2013
Journal
Journal of Consumer Research

Are Close Friends the Enemy? Online Social Networks, Self-Esteem, and Self-Control

Author
Wilcox, Keith and Andrew T. Stephen
Online social networks are used by hundreds of millions of people every day, but little is known about their effect on behavior. In five experiments, we demonstrate that social network use enhances self-esteem in users who are focused on close friends (i.e., strong ties) while browsing their social network. This momentary increase in self-esteem reduces self-control, leading those focused on strong ties to display less self-control after browsing a social network.
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Type
Journal Article
Date
2013
Journal
Personality and Social Psychology Bulletin

Good things come to those who wait: Late first offers facilitate creative agreements in negotiation

Author
Sinaceur, M., W. Maddux, D. Vasiljevic, R. Nuckel, and Adam Galinsky

Although previous research has shown that making the first offer leads to a distributive advantage in negotiations, the current research explored how the timing of first offers affects the creativity of negotiation agreements. We hypothesized that making the first offer later rather than earlier in the negotiation would facilitate the discovery of creative agreements that better meet the parties' underlying interests. Experiment 1 demonstrated that compared with early first offers, late first offers facilitated creative agreements that better met the parties' underlying interests.

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Type
Journal Article
Date
2013
Journal
Journal of Finance

How Wise Are Crowds? Insights from Retail Orders and Stock Returns

Author
Kelley, Eric and Paul Tetlock

We analyze the role of retail investors in stock pricing using a database uniquely suited for this purpose. The data allow us to address selection bias concerns and to separately examine aggressive (market) and passive (limit) orders. Both aggressive and passive net buying positively predict firms' monthly stock returns with no evidence of return reversal. Only aggressive orders correctly predict firm news, including earnings surprises, suggesting they convey novel cash flow information.

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Type
Journal Article
Date
2013
Journal
Management Science

Inferring Reporting-Related Biases in Hedge Fund Databases from Hedge Fund Equity Holdings

Author
Agarwal, Vikas, Vyacheslav Fos, and Wei Jiang

This paper formally analyzes the biases related to self-reporting in hedge fund databases by matching the quarterly equity holdings of a complete list of 13F-filing hedge fund companies to the union of five major commercial databases of self-reporting hedge funds between 1980 and 2008. We find that funds initiate self-reporting after positive abnormal returns that do not persist into the reporting period. Termination of self-reporting is followed by both return deterioration and outflows from the funds.

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Type
Journal Article
Date
2013
Journal
IEEE Transactions on Mobile Computing

Network Assisted Mobile Computing with Uplink Query Processing

Author
Chan, Carri W., Nicholas Bambos, and Jatinder Singh

Many mobile applications retrieve content from remote servers via user generated queries. Processing these queries is often needed before the desired content can be identified. Processing the request on the mobile devices can quickly sap the limited battery resources. Conversely, processing user-queries at remote servers can have slow response times due to communication latency incurred during transmission of the potentially large query.  We evaluate a network-assisted mobile computing scenario where mid-network nodes with "leasing" capabilities are deployed by a service provider.

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Type
Journal Article
Date
2013
Journal
Management Science

On implications of demand censoring in the newsvendor problem

Author
Besbes, Omar and Alp Muharremoglu

We consider a repeated newsvendor problem in which the decision-maker (DM) does not have access to the underlying distribution of discrete demand. We analyze three informational settings: i) the DM observes realized demand in each period; ii) the DM only observes realized sales; and iii) the DM observes realized sales but also a lost sales indicator that records whether demand was censored or not. We analyze the implications of censoring on performance and key characteristics that effective policies should possess.

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Type
Journal Article
Date
2013
Journal
Management Science

Social Ties and User-Generated Content: Evidence from an Online Social Network

Author
Nair, Harikesh and Reto Hofstetter
We use variation in wind speeds at surfing locations in Switzerland as exogenous shifters of users' propensity to post content about their surfing activity onto an online social network. We exploit this variation to test whether users' online content generation activity has a causal effect on their social ties. Under weak monotonicity assumptions, we also estimate nonparametric bounds on the causal effect of users' social ties in turn on their content generation activity.
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Type
Journal Article
Date
2013
Journal
Education and Information Technologies

Technology and Adolescents: Perspectives on the Things to Come

Author
Felix, Max and Madlen Gubernick
Assuming that, given the processes of technology diffusion, adolescent behavior forecasts future consumption of digital information, it would seem pertinent to study the characteristics of teenager technology use. This research asks: What are the key patterns regarding the use of technology platforms by teenagers? Is technology usage among teenagers shaped by schools' disparate teaching philosophies and cultures? How is technology usage impacting the consumption of traditional print media?
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