These papers are working drafts of research which often appear in final form in academic journals. The published versions may differ from the working versions provided here.
SSRN Research Paper Series
The Social Science Research Network’s Research Paper Series includes working papers produced by Stanford GSB the Rock Center.
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Study the accelerated adoption of information technologies in the intermediated originate-to-distribute model, like CLOs. Show informed intermediation can be welfare reducing given severe adverse selection while informed…
We examine how the efficiency of the judicial system impacts corporate innovation. To do so, we exploit a pilot program introduced by the U.S. Congress in 2011, which allowed judges with expertise(as opposed to randomly selected…
Gross Domestic Product (GDP), though often used as a proxy for economic well-being, was not designed for this purpose and is inadequate. In our current research, we are building new metrics for measuring changes in consumer well…
Current corporate disclosures regarding carbon emissions lack commonly accepted accounting rules. The carbon accrual accounting system described here takes the rules of historical cost accounting for operating assets as a template…
Across emerging economies, physical cash is the ubiquitous means of transaction for retailers and their consumers. Despite the widespread availability, affordability and benefits of Fintech solutions for digital payments in these…
We conducted two experiments on PayPal’s Give at Checkout feature to learn about the effect of 1) information about charity outcomes on donations, and 2) exposure to these point-of-sale microgiving requests on subsequent giving…
We study specialized lending in a credit market competition model with private information. Two banks, equipped with similar data processing systems, possess “general” signals regarding the borrower’s quality. However, the…
Many proposed surface water transfers undergo a series of regulatory reviews designed to mitigate hydrological and economic externalities. While these reviews help limit externalities, they impose substantial transaction costs…
We study the dynamics between local segregation, partisanship, and political polarization. We exploit large-scale, exogenous and high-stakes peer assignment due to universal conscription of soldiers assigned from each of 34,947…
We analyze the effects of veto players when the set of available policies isn’t exogenously fixed, but rather is determined by policy developers who work to craft new high-quality proposals. If veto players are moderate then there…
We characterize the relation between exchange rates and their macroeconomic fundamentals without committing to a specific model of preferences, endowment or menu of traded assets. When investors can trade home and foreign currency…
New AI tools have the potential to change the way workers perform and learn, but little is known about their impacts on the job. In this paper, we study the staggered introduction of a generative AI-based conversational assistant…
We examine the relationship between public firm disclosure and aggregate new business formation. Consistent with the notion that public company disclosures provide information spillovers that reduce the extent of uncertainty about…
Social networks utilize award recognition and front pages to motivate user content creation, facilitate consumer discovery of content, and provide attention and recognition to the best content. Past research shows that such…
How can we democratically govern the AI, social media, and online platforms of the future? Today, low participation is a major barrier to community governance online. We leverage a digital quasi-experiment that allows us to study…
Tropical deforestation for agriculture causes alarming CO2 emissions and loss of biodiversity and ecosystem services. To prevent this, various governments and multinational commodity-buyers offer a positive incentive for locals…
This paper studies whether tax policies in developed nations affect developing economies. We study firm investment responses to a major reform that reduced the corporate income tax rate for U.K.-based firms. Our identification…
Banks’ lending technology hinges on their handling of soft and hard information in dealing with different types of credit demand. Through assembling a novel dataset on banks’ investment in information technologies (IT), this paper…
In many settings, interventions may be more effective for some individuals than others, so that targeting interventions may be beneficial. We analyze the value of targeting in the context of a large-scale field experiment with…
A higher U.S. government debt/output ratio does not forecast higher surpluses or lower returns on Treasurys in the future. Neither future cash flows nor discount rates account for the variation in the current debt/output ratio…