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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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In this paper we develop new methods for estimating causal effects in settings with panel data, where a subset of units are exposed to a treatment during a subset of periods, and the goal is estimating counterfactual (untreated)…
The contextual bandit literature has traditionally focused on algorithms that address the exploration-exploitation tradeoff. In particular, greedy algorithms that exploit current estimates without any exploration may be sub…
How people think about and use their time has critical implications for happiness and well-being. Extant research on time in the consumer behavior literature reveals a predominantly dichotomized perspective of time between the…
Preparing for submission
Forthcoming in American Economic Review We estimate the causal effect of sovereign default on the equity returns of Argentine firms. We identify this effect by exploiting changes in the probability of Argentine sovereign default…
I show that, in a benchmark model, debt securities minimize the welfare losses associated with the moral hazards of excessive risk-taking and lax effort. For any security design, the variance of the security payoff is a statistic…
A coevolutionary perspective on knowledge strategy is developed, where variant positions in knowledge space are predicted to result in differential advantages in product space. In particular, advantages to being both consistent…
We build a linear-quadratic model to analyze trading in a market with private information and heterogeneous agents. Agents receive private taste/inventory shocks and trade continuously. Agents differ in their need for trade as…
We examine bankruptcy within business groups. Groups have incentives to support financially distressed subsidiaries as the bankruptcy of a subsidiary may impose severe costs on the group as a whole. In several countries around the…
Under revision for the Review of Financial Studies We study the investment and financing policies of public U.S. firms. Large firms substitute between debt- and equity financing over the business cycle whereas small firms’…
Drawing on insights of current and past editors of top economics and finance journals, we provide guidelines for reviewers in preparing referee reports and cover letters for journals. Peer review is fundamental to the progress of…
In collaboration with three companies selling a diverse set of products, we conduct randomized field experiments in which experimentally tailored email messages are sent to millions of individuals. We find consistently that…
Over the past decade, online social media has had a tremendous impact on the way people engage in social activism. For instance, about 26M Facebook users expressed their support in upholding the cause of marriage equality by…
In collaboration with BuildDirect.com, an online seller of home-improvement products, we conduct a large-scale randomized field experiment to study the effects of retargeted advertising — a form of internet advertising in which…
We analyze the role of benchmarks in over-the-counter markets subject to search frictions. The publication of a benchmark can, under conditions, raise total social surplus by (i) increasing the volume of beneficial trade, (ii)…
We study firm’s incentives to build and maintain reputation for quality, when quality is persistent and can be certified at a cost. We characterize all Markov-perfect equilibria where the timing of certification and investment…
The policy of net metering allows operators of residential- and commercial solar PV systems to sell surplus electricity back to their utility at the going retail rate. This policy has recently been criticized on the grounds that…
Revise and Resubmit at American Economic Review I characterize the optimal financial regulation policy in an economy where financial intermediaries trade capital assets on behalf of households, but must retain an equity stake for…