The recent episode of rising consumer bankruptcy and increasing foreclosure rates has sparked a lively debate about how to best tackle the crisis in the U.S. housing market. This paper contributes to the debate by providing an explicit model of the interactions of households' decisions to...

This paper describes the process of building knowledge to improve enterprise performance. This allows managers both to identify unknown risks and to develop solutions that mitigate these risks. One of the most critical risks that the enterprise faces involves the unidentified presence of...

This paper studies the effects of monetary policy on the expenditure of households of different ages using micro data from the U.S. Consumer Expenditure Survey. I find that contractionary monetary policy shocks reduce the expenditure of young households by significantly more than older...

This paper examines household consumption smoothing via variation in time spent shopping over the business cycle. Using scanner data on grocery purchases, we document how households lower the prices that they pay during downturns by increasing their coupon usage, sale purchasing, buying larger...

Can randomized experiments at the individual level help assess the persuasive effects of campaign tactics? In the contemporary U.S., vote choice is not observable, so one promising research design involves randomizing appeals and then using a survey to measure vote intentions. Here, we analyze...

How does competition affect higher education? This paper explores this question for public and private universities. Theory indicates that competition can push higher education policy in one of two different directions. On the one hand, competition may increase spending. For states, this would...

An environmental policy approach gaining increasing acceptance among regulators, industry, and environmental groups is the use of market-based instruments. The growth of such programs results in an important research need to understand how organizations respond to these tools. <P>Our managerial and...</p>