Published Papers
Do the Right Firms Survive Bankruptcy?
Journal of Financial Economics
Samuel Antill
“In United States, Chapter 11 bankruptcy cases, firms are either reorganized, acquired, or liquidated. I show that decisions to liquidate often reduce creditor recovery, costing creditors billions of dollars every year. I estimate that liquidation is frequently chosen when a reorganization would have maximized total creditor recovery. I estimate that courts could dramatically improve creditor recovery by assigning liquidations using a statistical model.”
Making Economics More Useful: How Technological Eclecticism Could Help
Journal of Applied Corporate Finance
Amar Bhidé
“Keynes thought it would be ‘splendid’ if economists became more like dentists. Disciplinary economics has instead become more like physics in focusing on concise, universal propositions verified through decisive tests. This focus, I argue, limits the practical utility of the discipline because universal propositions form only a part of new policy recipes.”
Remote Patient Monitoring—Overdue or Overused?
New England Journal of Medicine
Keizra Mecklai, Nicholas Smith, Ariel Dora Stern, and Daniel B. Kramer
“As the use of remote patient monitoring services grows—driven by health care limitations imposed by the COVID-19 pandemic—clinicians, payers, and patients face important questions regarding the volume, value, and appropriate use of this care model.”
The Effects of Retirement on Sense of Purpose in Life: Crisis or Opportunity?
Psychological Science
Ayse Yemiscigil, A.V. Whillans, and N. Powdthavee
“Does retirement lead to an existential crisis or present an opportunity to experience a renewed sense of purpose in life? In a nationally representative panel of American adults, we apply an instrumental variable analysis and use the differences in the likelihood of retirement driven by Social Security retirement incentives in the United States to find a sizable increase in purpose in life as an outcome of retirement.”
Emotional Acknowledgment: How Verbalizing Others’ Emotions Fosters Interpersonal Trust
Organizational Behavior and Human Decision Processes
Alisa Yu, Justin M. Berg, and Julian Zlatev
“People often respond to others’ emotions using verbal acknowledgment (e.g., “You seem upset”). Yet, little is known about the relational benefits and risks of acknowledging others’ emotions in the workplace. Across six studies, we found convergent evidence that emotional acknowledgment led to greater perceptions of costliness, and in turn, to higher evaluations of trust.”
Working Papers
Deregulation, Market Power, and Prices: Evidence from the Electricity Sector
Alexander MacKay and Ignacia Mercadal
“We use a detailed dataset on electricity transactions to investigate the impact of market-based deregulation in the context of the United States electricity sector. We find that the increase in markups dominates despite modest efficiency gains, leading to higher prices to consumers. Deregulation does not necessarily lead to lower prices to consumers.”
Judging Foreign Startups
Nataliya Langburd Wright, Rembrand Koning, and Tarun Khanna
“Can accelerators and investors pick the most promising startup ideas no matter their provenance? We investigate this question using unique data from a global accelerator in which judges across international regions are randomly assigned to evaluate startups headquartered across the globe.”
Case Studies and Materials
Rolex SA
“Rolex SA was one of the most successful watchmakers in the world. In recent years, the global demand for Rolex watches, especially the stainless-steel sports models, had dramatically increased, resulting in a supply shortage worldwide. This case study examines the high-end watch industry and discusses an organization’s objective and related pricing and channel strategies.”
Tokio Marine Group (A)
David J. Collis and Akiko Kanno
“Tokio Marine, Japan's leading insurance company, has spent nearly two decades building a global footprint in different insurance businesses. As the company becomes majority non-domestic it has to make a choice of what organisation structure to adopt to best manage the global footprint. Should it separate the domestic and international businesses, or should it attempt to integrate the two organisations?"
Threadless: The Renewal of an Online Community
Shane Greenstein, Karim R. Lakhani, and Christian Godwin
“From 2010 to 2020, Threadless continued to operate its crowd-sourcing platform, while it transitioned away from traditional screen printing to a digital print-on-demand model. The onset of the COVID-19 pandemic in 2020 accelerated the company’s transition, triggering the sale of Threadless’s office and a move to working from home.”
Opportunity Insights: Research and Policy for Social Mobility
Scott Duke Kominers, Jeff Huizinga, and Allison M. Ciechanover
“Opportunity Insights—a non-profit that researches drivers of economic opportunity and develops policy solutions to help families achieve better life outcomes—seeks to expand its impact.”
DigiPlex: Ante-Up or Cash Out
Josh Lerner and James Mason
“In November 2020, the co-founders of DigiPlex study the future growth trajectory of their Nordic data center venture. A critical question was on the agenda: was now finally the right time to sell DigiPlex? Originally a $2.75 million investment in one small data center made in the wake of the dot-com bubble, the Norwegian-based firm had seen tremendous growth in the last two decades.”
Apax Partners and Duck Creek Technologies
Josh Lerner, Terrence Shu, and Alys Ferragamo
“This case follows Jason Wright and Umang Kajaria at Apax Partners as they consider an investment in Duck Creek Technologies, a technology provider for property & casualty insurance companies. The deal required a complex carve-out from Accenture, Duck Creek’s parent organization, and several operational improvements to rejuvenate the company.”
Dell Technologies: Bringing the Cloud to the Ground
Navid Mojir and V. Kasturi Rangan
“The case tells the story of Dell Technologies and its efforts to revitalize its value proposition and escape a commodity trap by acquiring EMC for $67 billion—the largest tech acquisition in history. It also shows the deeply intertwined connections between a company’s business strategy and its go-to-market operations.”
Probability Distributions
Michael Parzen and Paul J. Hamilton
“This technical note introduces students to the concept of random variables, and from there the normal and binomial distributions. After a brief introduction to random variables, the note describes the standard properties of the normal distribution: a single peak, and a symmetric, bell-shaped curve.”
Axis My India
Ananth Raman, Ann B. Winslow, and Kairavi Dey
“Pradeep Gupta founded Axis My India (AMI) as a printing and publishing company in 1998. In 2013, AMI expanded into consumer research and election forecasting. In 2019, Gupta found that his team’s prediction for an election result was distinctly different from all other pollsters. As Gupta reviewed his team’s analysis (which had been confirmed by another round of interviews), he considered whether he should publish these numbers or revise them just enough to avoid controversy.”
Value-Based Insurance Design at Onex
Joshua R. Schwartzstein, Amitabh Chandra, and Amram Migdal
“The operating executives of Health and Benefits for Onex Partners, Megan Jackson Frye and Sam Camens, faced a challenge: Healthcare costs for employees of Onex’s portfolio companies were continuing to rise above the consumer price index, reflecting broader trends across employer-sponsored health insurance in the US.”
Board Director Dilemmas—Back the SPAC?
Suraj Srinivasan, David G. Fubini, and Amram Migdal
“This case focuses on a board director of a diversified holding company. The CEO is raising the idea of joining with a special purpose acquisition company (SPAC) to spin off part of the business as a separate company. The board director must consider how to respond.”
Misaki Capital and Sangetsu Corporation (B)
Charles C.Y. Wang, Akiko Saito, and Nobuo Sato
Supplements the (A) case about Misaki Capital and Sangetsu Corporation.