This paper analyzes interactions between agents who are overconfident regarding their own future self-control relative to others. The paper considers the problem of incentivizing several such agents, and compares two methods: assigning work individually to each agent or jointly to pairs of...

Why do investors react to old information? We provide survey evidence to experimentally document that active finance professionals are more susceptible to old information when it comes as a recombination of content from multiple sources. To evaluate the market implications of this mechanism, we...

How does artificial intelligence (AI) impact audit quality and efficiency? We explore this question by leveraging a unique dataset of more than 310,000 detailed individual resumes for the 36 largest audit firms to identify audit firms’ employment of AI workers. We provide a first look into the...

How resilient are high-skilled, white collar workers? We exploit a uniquely comprehensive dataset of individual-level resumes of bank employees and the setting of the Lehman Brothers bankruptcy to estimate the effect of an unanticipated shock on the career paths of mobile and high skilled labor....

How does skilled human capital affect firm performance? By directly observing the monthly career migration patterns of 37 million employees of US public companies, along with their education, demographics, and skills, we explore firm-level "skill premia." Our key empirical finding is that,...

Which firms invest in artificial intelligence (AI) technologies, and how do these investments affect individual firms and industries? We provide a comprehensive picture of the use of AI technologies and their impact among US firms over the last decade, using a unique combination of job postings...

We propose a new channel through which teamwork improves mutual fund activity: by offsetting individual manager overconfidence, teams mitigate excessive performance-induced trading (PIT). The predictions of our theoretical model are confirmed in the data. Team-managed funds trade less after good...