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Older People Are Less Pessimistic about the Health Risks of COVID-19

by Pedro Bordalo, Katherine B. Coffman, Nicola Gennaioli, and Andrei Shleifer

The pandemic presents a unique opportunity to investigate formation of beliefs about an unprecedented, widespread, and life-threatening event. One finding: COVID-19 makes the prospect of disease and death particularly salient for the young.

The Targeting and Impact of Paycheck Protection Program Loans to Small Businesses

by Alexander Bartik, Zoë B. Cullen, Edward L. Glaeser, Michael Luca, Christopher Stanton, and Adi Sunderam

Survey data on business owners collected by the Alignable network shows that lending to bank customers in better financial positions may have been prioritized, possibly crowding out less connected firms that would have benefitted more from the loans.

Updating the Balanced Scorecard for Triple Bottom Line Strategies

by Robert S. Kaplan and David McMillan

Society increasingly expects businesses to help solve problems of environmental degradation, inequality, and poverty. This paper explains how the Balanced Scorecard and Strategy Map should be modified to reflect businesses’ expanded role for society.

Time and the Value of Data

by Ehsan Valavi, Joel Hestness, Newsha Ardalani, and Marco Iansiti

This paper studies the impact of time-dependency and data perishability on a dataset's effectiveness in creating value for a business, and shows the value of data in the search engine and advertisement businesses perishes quickly.

State and Local Government Employment in the COVID-19 Crisis

by Daniel Green and Erik Loualiche

The COVID-19 crisis has had large impacts on local economies and government budgets. Balanced budget requirements, not mis-management, have generated a fiscal crisis and forced state and local governments to reduce service provision precisely when it is in greatest demand.

Digital Labor Market Inequality and the Decline of IT Exceptionalism

by Ruiqing Cao and Shane Greenstein

The experience in five cities accounts for almost all the wage inequality in IT wages in the US between 2000 and 2018. Overall that brought IT wages closer to STEM wages.

Entrepreneurs (Co-) Working in Close Proximity: Impacts on Technology Adoption and Startup Performance Outcomes

by Maria P. Roche, Alexander Oettl, and Christian Catalini

In one of the largest entrepreneurial co-working spaces in the United States, startups are influenced by peer startups within a distance of 20 meters. The associated advantages for learning and innovation could be lost using at-a-distance work arrangements.

Transaction Cost Economics in the Digital Economy: A Research Agenda

by Frank Nagle, Robert Seamans, and Steve Tadelis

The increasing dominance of the digital economy has brought new questions about the interplay of organizations and the market-based ecosystem. Transaction Cost Economics theory is a useful lens to understand firm organization and possibly guide policy and regulation.

The Pass-Through of Uncertainty Shocks to Households

by Marco Di Maggio, Amir Kermani, Rodney Ramcharan, Vincent Yao, and Edison Yu

A firm’s stock price volatility during times of uncertainty can significantly reduce workers’ consumption and savings decisions. This paper sheds light on the economic effects of uncertainty, and in particular, how firms provide insurance to their workers during periods of turmoil.

Consumers Punish Firms that Cut Employee Pay in Response to COVID-19

by Bhavya Mohan, Serena Hagerty, and Michael Norton

In the wake of COVID-19, firms announced both employee furloughs and (typically small) CEO wage cuts. This research shows that firms’ treatment of employees matters far more to consumers than executive pay cuts.

Performance Hacking: The Contagious Business Practice that Corrodes Corporate Culture, Undermines Core Values, and Damages Great Companies

by Robert D. Austin and Richard L. Nolan

Performance hacking (or p-hacking for short) means overzealous advocacy of positive interpretations to the point of detachment from actuals. In business as in research there are strong incentives to p-hack. If p-hacking behaviours are not checked, a crash becomes inevitable.

When Do Experts Listen to Other Experts? The Role of Negative Information in Expert Evaluations for Novel Projects

by Jacqueline N. Lane, Misha Teplitskiy, Gary Gray, Hardeep Ranu, Michael Menietti, Eva C. Guinan, and Karim R. Lakhani

Evaluators of early-stage scientific proposals tend to systematically focus on the weaknesses of proposed work rather than its strengths, according to evidence from two field experiments.

Can Shared Service Delivery Increase Customer Engagement? A Study of Shared Medical Appointments

by Ryan W. Buell, Kamalini Ramdas, and Nazlı Sönmez

Shared service delivery means that customers are served in groups rather than individually. Results from a large-scale study of glaucoma follow-up appointments at a major eye hospital indicate that shared service delivery can significantly improve patients’ verbal and non-verbal engagement.

Best Ideas

by Miguel Antón, Randolph B. Cohen, and Christopher Polk

The “best ideas” in investment managers’ portfolios generate statistically and economically significant risk-adjusted returns over time, and they systematically outperform other positions in the portfolios. Investors can gain substantially if managers choose less-diversified portfolios that tilt more towards their best ideas.

Gender Differences in COVID-19 Related Attitudes and Behavior: Evidence from a Panel Survey in Eight OECD Countries

by Vincent Pons, Vincenzo Galasso, Paola Profeta, Michael Becher, Sylvain Brouard, and Martial Foucault

Survey evidence from eight countries indicates strong gender differences in people’s belief that COVID-19 represents a serious health risk and in their agreement and compliance with restraining policy measures.

Of Learning and Forgetting: Centrism, Populism, and the Legitimacy Crisis of Globalization

by Rawi Abdelal

Cycles of liberation and regulation of global finance follow a pattern of learning and forgetting. This essay argues that liberalization and globalization created the instability and inequality that have begun to undermine the system from within.

Collaborating During Coronavirus: The Impact of COVID-19 on the Nature of Work

by Evan DeFilippis, Stephen Michael Impink, Madison Singell, Jeffrey T. Polzer, and Raffaella Sadun

This study of 16 cities is the first large-scale analysis of how digital communication patterns have changed in the early stages of the pandemic. The overall pattern of more meetings and more emails points to a spillover of virtual communication beyond normal working hours.

Discrimination, Disenfranchisement and African American WWII Military Enlistment

by Nancy Qian and Marco Tabellini

The United States entered World War II during one of the worst periods of racial discrimination in post-Civil War history. This paper examines the social costs of this discrimination, with clear implications for policymakers: Requiring equal contributions from citizens means treating citizens equally.

Two Case Studies on the Financing of Forest Conservation

by Andrew Baxter, Connor Cash, Josh Lerner, and Ratnika Prasad

Case studies about The Conservation Fund and Sonen Capital highlight three broad lessons about fresh approaches to the ownership and management of forestland.

What Jobs Are Being Done at Home During the COVID-19 Crisis? Evidence from Firm-Level Surveys

by Alexander Bartik, Zoë Cullen, Edward L. Glaeser, Michael Luca, and Christopher Stanton

At least 16 percent of American workers will switch from office-based settings to working at home at least two days per week after COVID-19 subsides. This has significant implications for companies, employees, and policymakers alike.