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Hoffman, Mitchell - 2015

to forgo the potentially valuable private information of their managers. We study the introduction of job testing across … 15 firms employing low-skilled service sector workers. When faced with similar applicant pools, we find that managers who … appear to hire against test recommendations end up with worse average hires. This suggests that managers often overrule test …

Persistent link: https://www.econbiz.de/10012456961

Inducing Leaders to Take Risky Decisions : Dismissal, Tenure, and Term Limits

Aghion, Philippe - 2014

In this paper we analyze the problem of whether and/or when to replace a leader (agent) when no monetary rewards are available, and it is the leader's competence rather than effort that is being evaluated. The only decisions that the leader takes over time are whether to undertake risky but...

Persistent link: https://www.econbiz.de/10012458366

Enabling Entrepreneurial Choice

Agrawal, Ajay K. - 2020

Entrepreneurs must choose between alternative strategies for bringing their idea to market. They face uncertainty regarding both the quality of their idea as well as the efficacy of each strategy. While entrepreneurs can reduce this uncertainty by conducting tests, any single test conflates the...

Persistent link: https://www.econbiz.de/10012481574

How Do CEOs Make Strategy?

Yang, Mu-Jeung - 2020

We explore the critical question of how executives make strategic decisions. Utilizing a new survey of 262 CEO alumni of Harvard Business School, we gather evidence on four aspects of each executive's business strategy: its overall structure, its formalization, its development, and its...

Persistent link: https://www.econbiz.de/10012482172

CEO Overconfidence and Innovation

Galasso, Alberto - 2010

Are CEOs' attitudes and beliefs linked to their fims' innovative performance? This paper uses Malmendier and Tate's measure of overconfidence, based on CEO stock-option exercise, to study the relationship between a CEO's "revealed beliefs" about future performance and standard measures of...

Persistent link: https://www.econbiz.de/10012462611

Executive Lawyers : Gatekeepers or Strategic Officers?

Morse, Adair - 2016

Lawyers now serve as executives in 44% of corporations. Although endowed with gatekeeping responsibilities, executive lawyers face increasing pressure to use time on strategic efforts. In a lawyer fixed effects model, we quantify that lawyers are half as important as CEOs in explaining variances...

Persistent link: https://www.econbiz.de/10012456082

Generalized Separability and Integrability : Consumer Demand with a Price Aggregator

Fally, Thibault - National Bureau of Economic Research - 2022

This paper examines demand systems where the demand for a good depends on other prices only through a common price aggregator (a scalar function of all prices). We refer to this property as ``generalized separability'' and provide the functional forms of demand that this property implies when...

Persistent link: https://www.econbiz.de/10013191091

Integrability and Generalized Separability

Fally, Thibault - 2018

This paper examines demand systems where the demand for a good depends only on its own price, consumer income, and a single aggregator synthesizing information on all other prices. This generalizes directly-separable preferences where the Lagrange multiplier provides such an aggregator. As...

Persistent link: https://www.econbiz.de/10012480678

Continuous-Time Methods for Integrated Assessment Models

Cai, Yongyang - 2012

Continuous time is a superior representation of both the economic and climate systems that Integrated Assessment Models (IAM) aim to study. Moreover, continuous-time representations are simple to express. Continuous-time models are usually solved by discretizing time, but the quality of a...

Persistent link: https://www.econbiz.de/10012460295

Participation and Investment Decisions in a Retirement Plan : The Influence of Colleagues' Choices

Duflo, Esther - 2000

This paper investigates whether peer effects play an important role in retirement savings decisions. We use individual data from the staff of a university to study whether individual decisions to enroll in a Tax Deferred Account plan sponsored by the university (and the choice of the mutual fund...

Persistent link: https://www.econbiz.de/10012471015

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