Working Papers

Renewables have become the cheapest energy sources in most of the world but their generation remains variable and difficult to predict. However, recent technology advances have rendered large-scale electricity storage economically viable, thus mitigating the renewable intermittency issue and enabling combinations of e.g. wind and batteries to replace fossil fuel power plants. Read More

Using data on employer job search, this study demonstrates that employers are seeking algorithmic literacy from workers in a particularly broad class of occupations because familiarity with algorithms in downstream “using” occupations is important for integrating AI and data science into production. Read More

Empirical analysis of a sample of companies with private equity (PE) ownership in the UK shows that PE firms act as deep-pocket investors for their portfolio companies, rescuing them if they fall in financial distress. Read More

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

We develop a general-equilibrium asset-pricing model with dynamic games of price competition. Price war risks arise endogenously from declines in long-run growth as firms’ incentive to undercut prices grows stronger with a worse growth outlook. Read More

This study evaluates how having multiple kinds of relations – multiplexity – affects diffusion by word-of-mouth information transmission. The study uses data from a field experiment in 49 remote villages in Karnataka, India. Read More

In markets where consumers seek expert advice regarding purchases, firms seek to influence experts, raising concerns about biased advice. We combine a model of supply and demand with a local instrumental variables strategy based on regional spillovers from academic medical center conflict-of-interest policies. Read More

This paper addresses the recent trend of offering unlimited vacation to employees. While potentially useful for acquiring human capital benefits, unlimited vacation is a risky perk for firms due to the possibility of abuse. Read More

Most digital communication platforms store content and allow users to see it multiple times. Despite the benefits that recording content holds for both users and companies, many applications delete it after it was seen by the receiver (i.e., ephemeral communication channels). Read More

Commuting is costly for employees, but is it costly for employers in terms of lost productivity? We study the causal effects of commuting distance on inventor productivity. Specifically, we estimate how inventor productivity changes when their employer relocates. Read More