Knowledge Dissemination →

When Tech Platforms Identify Black-Owned Businesses, White Customers Buy

Demand for Black-owned restaurants rises when they're easier to find on Yelp. Research by Michael Luca shows how companies can mobilize their own technology to advance racial equity.

Managerial Quality and Productivity Dynamics

Which managerial skills, traits, and practices matter most for productivity? This study of a large garment firm in India analyzes the integration of features of managerial quality into a production process characterized by learning by doing.

The Salary Taboo: Privacy Norms and the Diffusion of Information

Barriers to the diffusion of salary information have implications for a wide range of labor market phenomena. This study of employees of a real organization shows that individuals significantly misinterpret their peers’ salaries, partly due to pervasive preferences for concealing own salary, and a potentially strategic decision of high earners to withhold their personal information.

Brokers and Order Flow Leakage: Evidence from Fire Sales

This study finds that brokers tend to reveal the occurrence of a fire sale to their best clients, allowing them to generate significant profits by predating on the liquidating fund. Such information leakage comes at the expense of higher price impact, and leads to a more costly liquidation for the fire sale originator.

The Relevance of Broker Networks for Information Diffusion in the Stock Market

How information is generated by market participants, shared, and incorporated into prices is one of the key questions for understanding how financial markets operate. This study finds that intermediaries play a large role in the acquisition and dissemination of private information, which they extract from order flow and, more generally, from interaction with clients.