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The Value of Descriptive Analytics: Evidence from Online Retailers

by Ron Berman and Ayelet Israeli

Analytics are descriptive when they describe what happened. Descriptive-analytics solutions are popular among marketers and retailers. This paper provides a benchmark for the benefits of using a descriptive dashboard and illustrates how to potentially extract these benefits.

The Role of Constraints in Creative Problem-Solving

by Daniel Ehls, Karim R. Lakhani, and Jacqueline N. Lane

This study shows that constraints can support creative problem solving in a consumer electronics setting. Adding (some) constraints increased the quantity and quality of strong ideas generated and selected through an open innovation process.

Dog Eat Dog: Measuring Network Effects Using a Digital Platform Merger

by Chiara Farronato, Jessica Fong, and Andrey Fradkin

With heated debate over antitrust regulation of online platforms, this study finds that when a larger platform acquired its greatest competitor, users were not better off with a single platform compared with two competitors, despite marked efficiency improvements experienced by the acquiring platform.

Accounting for Product Impact in the Airlines Industry

by George Serafeim and Katie Trinh

A systematic methodology for measuring product impact can be applied across a range of industries. Examining two competitor companies in the airlines industry, this study finds that analyzing each dimension of product impact allows for deeper understanding of each company’s business strategies.

The Political Effects of Immigration: Culture or Economics?

by Alberto Alesina and Marco Tabellini

This paper reviews and explains the growing literature focused on the political effects of immigration, and highlights fruitful avenues for future research. When compared to potential labor market competition and other economic forces, broadly defined cultural factors have a stronger political and social impact.

Aggregate Advertising Expenditure in the US Economy: What's Up? Is It Real?

by Alvin J. Silk and Ernst R. Berndt

We analyze total United States advertising spending from 1960 to 2018. In nominal terms, the elasticity of annual advertising outlays with respect to gross domestic product appears to have increased substantially beginning in the late 1990s, roughly coinciding with the dramatic growth of internet-based advertising.

The ESG-Innovation Disconnect: Evidence from Green Patenting

by Lauren Cohen, Umit G. Gurun, and Quoc H. Nguyen

Energy-producing firms are more likely to produce “blockbuster” green patents than other firms. Yet energy firms are excluded from many environmental, social, and governance (ESG) funds, and are the targets of divestiture campaigns whose stated aims often include green energy innovation.

The Twofold Effect of Customer Retention in Freemium Settings

by Eva Ascarza, Oded Netzer, and Julian Runge

Many digital products offer “freemiums”: that is, part of the product for free, often with advertising, and an enhanced customer experience for payment. This research, in a mobile game context, shows the importance of recognizing the short- and long-term effects on customer retention when managing the tradeoffs between free and paid aspects of freemium products.

Hospital Allocation and Racial Disparities in Health Care

by Amitabh Chandra, Pragya Kakani, and Adam Sacarny

Black Americans experience disparities in health outcomes in the United States relative to other demographic groups. This study of heart attack sufferers over two decades develops a framework to examine the allocation of health care and the effectiveness of medical treatments, including beta-blockers and other technologies.

How Do CEOs Make Strategy?

by Mu-Jeung Yang, Michael Christensen, Nicholas Bloom, Raffaella Sadun, and Jan Rivkin

A study of 262 Harvard Business School-educated CEOs traces differences in strategic decision-making across managers. CEOs leading larger, faster-growing firms tend to make highly structured strategic decisions and use more analytical deliberation. Management education has long-lasting effects on decision-making.

Biased Sampling of Early Users and the Direction of Startup Innovation

by Ruiqing Cao, Rembrand Koning, and Ramana Nanda

New ventures catering to female customers should be aware that the underrepresentation of women among early users on digital platforms can reduce the venture’s growth and chances of survival. As a result of gaining fewer early users, these ventures reduce future product development and are less likely to raise VC funding.

Designing, Not Checking, for Policy Robustness: An Example with Optimal Taxation

by Benjami Lockwood, Afras Y. Sial, and Matthew C. Weinzierl

The approach used by most economists to check academic research results is flawed for policymaking and evaluation. The authors propose an alternative method for designing economic policy analyses that might be applied to a wide range of economic policies.

Nonprofit Boards: It is Time to Lift Your Gaze and See the System

by Shamal Dass, Kristy Muir, and V. Kasturi Rangan

Not every organization should attempt to solve problems at a system level, but can become more aware of systemic issues, ensuring that solutions dovetail into the macrosystem for best collective impact.

Party-State Capitalism in China

by Margaret Pearson, Meg Rithmire, and Kellee Tsai

China’s political economy has evolved from “state capitalism” to a distinctly party-driven incarnation. Party-state capitalism, via enhanced party monitoring and industrial policy, deepens ambiguity between the state and private sectors, and increases pressure on foreign capital, prioritizing the regime’s political survival above all.

'Repayment-by-Purchase' Helps Consumers to Reduce Credit Card Debt

by Grant E. Donnelly, Cait Lamberton, Stephen Bush, Zoe Chance, and Michael I. Norton

Many consumers fail to pay off credit card debt each month and suffer financial consequences. Repayment-by-purchase, allocating payment toward specific purchases on a credit card bill, helps consumers gain a sense of progress and control over credit card debt.

Short-Termism, Shareholder Payouts, and Investment in the EU

by Jesse M. Fried and Charles C.Y. Wang

Shareholder-driven “short-termism,” as evidenced by increasing payouts to shareholders, is said to impede long-term investment in EU public firms. But a deep dive into the data reveals a different story.

Accounting for Product Impact in the Consumer Finance Industry

by George Serafeim and Katie Trinh

A framework and method for measuring and monetizing product impact across industries, applying it to two competitors in the consumer finance space.

Venture Capitalists and COVID-19

by Paul A. Gompers, Will Gornall, Steven N. Kaplan, and Ilya A. Strebulaev

This survey of more than 1,000 venture capitalists finds that the VC industry and its portfolio companies have reduced their activity less than in previous recessions and have been more resilient than many other sectors of the global economy.

Private Equity and COVID-19

by Paul A. Gompers, Steven N. Kaplan, and Vladimir Mukharlyamov

Private equity investors are seeking new investments despite the pandemic. This study shows they are prioritizing revenue growth for value creation, giving larger equity stakes to management teams, and targeting somewhat lower returns.

Long-Run Returns to Impact Investing in Emerging Markets and Developing Economies

by Shawn Cole, Martin Melecky, Florian Mölders, and Tristan Reed

Examination of every equity investment made by the International Finance Corporation, one of the largest and longest-operating impact investors, shows this portfolio has outperformed the S&P 500 by 15 percent.