Data-analytics technology can accelerate the innovation process by enabling existing knowledge to be identified, accessed, combined, and deployed to address new problem domains.…Read More
Data Analytics Supports Decentralized Innovation
Capturing Economic Value from Innovation Investments
Inventory, Speculators, and Initial Coin Offerings
Initial Coin Offerings (ICOs) are an emerging form of fundraising for Blockchain-based startups. We propose a simple model of matching supply with demand with ICOs by companies involved in production of physical products.…Read More
In the Shadow of the Valley: Private Equity Firms’ Increased Prominence in High-Tech Acquisitions
Why and how do private equity (PE) firms engage in technology acquisitions, and how do they create and capture value in these transactions? Observational data shows initial evidence that not only are PE firms engaging in an increasing number of technology buyouts, they are also seemingly behaving in distinct ways from both corporate acquirers, as well as PE firms in industries other than high-tech.…Read More
Leapfrogging for Last-Mile Delivery in Health Care
Lowering the cost and increasing the speed of last mile delivery are major challenges for the distribution channels of most industries. These challenges are even more severe in developing countries, where a large part of the population is located in rural areas, and where the lack of physical infrastructure results in a sizable part of the population residing in isolated areas, compromising their access to important services for their investment in human capital, such as timely health care.…Read More
Artificial Intelligence and Drug Innovation
Artificial Intelligence (AI) is playing an increasingly important role in the global economy and has transformed many business practices. As AI has advanced beyond the conventionally narrow domains, it is starting to exhibit characteristics of “general purpose technologies (GPT)” that are expected to change the nature of more business innovations and reduce their associated financial costs and time.…Read More
Being Innovative Pays Off, But When?
The research objective is to determine how quickly product innovation translates into higher stock market valuations. The novelty in the research approach is using online consumer reviews on websites including Amazon, eBay; combined with stock market data.…Read More
Energy Storage Capacity Investment for Grids with Renewable Generation
This proposal requests research funding for the development of one paper studying how new technologies for energy storage and renewable energy generation impact capacity investment decisions for grid-scale storage.…Read More
Strategies for Dynamic Experimentation
In this project, we seek to update the statistical paradigm for conducting A/B tests in the 21st century. In particular, we plan to develop a statistical framework that takes the guesswork out of deciding when to stop an experiment and to calibrate a firm’s decision thresholds based on their own historical data.…Read More
FDA Regulation and Innovation in the Pharmaceutical Industry
Standard economic theory recognizes a trade-off inherent in intellectual property protection between increased incentives for firms to innovate due to potential monopoly rights and the deadweight loss from those rights.…Read More
The Influence of Private Equity Experience on Corporate Transactions
This project considers whether CEOs and other top managers whose professional backgrounds are in private equity undertake different and/or more successful acquisitions and divestitures than CEOs and other top managers who do not have professional backgrounds in private equity.…Read More
Long-Run Growth and Misallocation in Innovation Network
Resource misallocation negatively affects productivity and hence economic growth. One of the most influential insights in financial economics for the past decades is that the low-frequency component in the economic growth (i.e. the long-run economic growth) has important impact on asset pricing dynamics in capital markets (see Bansal and Yaron, Journal of Finance, 2004).…Read More
Algorithmic Management and Financial Well-Being in the On-Demand Economy
Uber. Upwork. TaskRabbit. The world of work is transforming and my research agenda attempts to identify and explain 1) how work is changing and 2) how these changes affect workers, especially those who are marginalized or vulnerable.…Read More
Generic Competition and Strategic Delegation: An Empirical Study in Drug Patent Licensing
We plan to study the role of strategic delegation in the patent licensing process. In particular, we will examine the contractual terms of a large database of pharmaceutical drug license arrangements (royalty rates, contingencies, royalty bases, etc…), as well as which contractual terms were redacted versus non-redacted.…Read More
The Added Value of Analytics and Impact of Exposure to Business Benchmarks
What is the impact of deploying an analytics solution on firm output? How is this impact generated by the firm? We use data from over 1,000 firms to estimate the causal impact of analytics and benchmarking on firm performance.…Read More
Economics of Private Equity
In this paper, I plan to study how financing frictions affect the ability of firms to implement innovations. I am mainly going to focus on the step, when a company has already discovered an innovation opportunity, but does not have resources to finance it, and so needs to get external financing.…Read More
Climate Change, Risk and Firms’ Innovation in Green Technology: Threat or Opportunity?
Public policies that aim at reducing global warming expose firms to legal risks, especially firms that have high carbon dioxide (C02) emissions. How do firms handle this legal risk, both before and after its realization?…Read More
The Organizational Consequences of Robots: Firm-level Evidence
As a new general-purpose technology, robots have the potential to radically transform industries and affect employment. Preliminary empirical studies using industry and geographic region-level data have shown that robots differ from prior general-purpose technologies and predict substantial negative effects on employment.…Read More
Role of Star Developers in Open Source Software Innovations
The idea that source code for computer software be accessible to anyone has gained increasing popularity among software developers, fueling the rapid growth of the open source software (OSS) movement. Platforms for OSS development currently host incredibly valuable projects like the Linux kernel, TensorFlow and various blockchain software projects.…Read More
Technological Innovations for Last-Mile Delivery in Health Care
We propose to study the impact of technological innovations in last-mile delivery on health care access, cost, and quality. To this end, we will examine the introduction of drones to deliver blood and other medical supplies to isolated areas in Rwanda.…Read More
Optimizing Service using High Dimensional Panel Data
We study how retail stores’ multi-dimensioned service levels affect consumers’ buying behavior in a spatial setting. To this end, we propose the Double Block-Lasso BLP estimator, which combines the double selection procedure introduced in Belloni, Chernozhukov, and Hansen (2014), with demand estimation methods set forth in Berry, Levinsohn and Pakes (1995).…Read More