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- Faculty Publications (142)
Biases →
- 2007
- Working Paper
Investor Sentiment in the Stock Market
By: Malcolm Baker and Jeffrey Wurgler
Real investors and markets are too complicated to be neatly summarized by a few selected biases and trading frictions. The "top down" approach to behavioral finance focuses on the measurement of reduced form, aggregate sentiment and traces its effects to stock returns....
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- February 2007
- Case
Behavioral Finance at JP Morgan
By: Malcolm P. Baker and Aldo Sesia
Following a successful model in Europe, JP Morgan has introduced a set of five U.S. retail mutual funds with an investment philosophy and marketing strategy grounded in behavioral finance. The asset management group believes that understanding investor biases like...
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Keywords:
Banks and Banking;
Investment Funds;
Behavioral Finance;
Competitive Advantage;
Asset Management;
Marketing Strategy;
Product Marketing;
Customer Focus and Relationships;
Banking Industry;
Financial Services Industry;
United States;
Europe
Baker, Malcolm P., and Aldo Sesia. "Behavioral Finance at JP Morgan." Harvard Business School Case 207-084, February 2007.
- 2006
- Working Paper
Worse but Equal: The Influence of Social Categories on Resource Allocations
By: Stephen M. Garcia, Max H. Bazerman, Shirli Kopelman and Dale T. Miller
This paper explores the influence of social categories on the perceived trade-off between relatively bad but equal distribution of resources between two parties and profit maximizing, yet asymmetric payoffs. Study 1 and 2 showed that people prefer to maximize profits...
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Garcia, Stephen M., Max H. Bazerman, Shirli Kopelman, and Dale T. Miller. "Worse but Equal: The Influence of Social Categories on Resource Allocations." Harvard Business School Working Paper, No. 06-033, February 2006. (Revised September 2008, June 2009. In press.)
- Column
The Mind of the Negotiator: Beware Your Counterpart's Biases
By: M. H. Bazerman
Bazerman, M. H. "The Mind of the Negotiator: Beware Your Counterpart's Biases." Negotiation 8, no. 12 (December 2005). (newsletter.)
- 2005
- Working Paper
Letting Misconduct Slide: The Acceptability of Gradual Erosion in Others' Unethical Behavior
By: Francesca Gino and Max H. Bazerman
Four laboratory studies show that people are more likely to overlook others' unethical behavior when ethical degradation occurs slowly rather than in one abrupt shift. Participants served in the role of watchdogs charged with catching instances of cheating. The...
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Gino, Francesca, and Max H. Bazerman. "Letting Misconduct Slide: The Acceptability of Gradual Erosion in Others' Unethical Behavior." Harvard Business School Working Paper, No. 06-007, August 2005. (Revised September 2006, February 2007, January 2009. Previously titled "Slippery Slopes and Misconduct: The Effect of Gradual Degradation on the Failure to Notice Others' Unethical Behavior.")
- February 2005
- Article
Do Behavioral Biases Affect Prices?
By: Joshua D. Coval and Tyler Shumway
Coval, Joshua D., and Tyler Shumway. "Do Behavioral Biases Affect Prices?" Journal of Finance 60, no. 1 (February 2005): 1–34. (Winner of Smith Breeden Prize. Best Paper For the best finance research paper published in the Journal of Finance presented by Smith Breeden Associates, Inc.)
- January 2004
- Background Note
Why Developers Don't Understand Why Consumers Don't Buy
Looks at the psychological biases developers bring to the new product development process. Identifies three reasons why developers may do a poor job of identifying the demand for an innovative, new concept or product: (1) the self-selection bias, (2) differing initial...
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- August 1999
- Article
Positive Illusions and Biases of Prediction in Mutual Fund Investment Decisions
By: D. A. Moore, T. R. Kurtzberg, C. R. Fox and M. H. Bazerman
Moore, D. A., T. R. Kurtzberg, C. R. Fox, and M. H. Bazerman. "Positive Illusions and Biases of Prediction in Mutual Fund Investment Decisions." Organizational Behavior and Human Decision Processes 79, no. 2 (August 1999): 95–114.
- July 1999 (Revised January 2004)
- Case
Chrysler and BMW: Tritec Engine Joint Venture
By: H. Kent Bowen and Courtney Purrington
A gifted project leader lacks significant new product development experience. The case highlights the issues and procedures related to defining the project strategy: organizing senior management approvals and support for creating a "heavyweight" team; aligning the...
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Keywords:
Product Development;
Joint Ventures;
Projects;
Business Strategy;
Management Teams;
Groups and Teams;
Machinery and Machining;
Design;
Business Processes;
Product Design;
Product;
Management Analysis, Tools, and Techniques;
Auto Industry
Bowen, H. Kent, and Courtney Purrington. "Chrysler and BMW: Tritec Engine Joint Venture." Harvard Business School Case 600-004, July 1999. (Revised January 2004.)
- 1994
- Chapter
Biases and Rationality in the Mediation Process
By: K. Gibson, L. L. Thompson and M. H. Bazerman
Gibson, K., L. L. Thompson, and M. H. Bazerman. "Biases and Rationality in the Mediation Process." In Applications of Heuristics and Biases to Social Issues. Vol. 3, edited by L. Heath, F. Bryant, J. Edwards, E. Henderson, J. Myers, E. Posavac, Y. Suarez-Balcazar, and R. S. Tindale. Social Psychological Applications to Social Issues. New York: Plenum Press, 1994.
- May 1990 (Revised September 1994)
- Background Note
Note on Financial Reporting Strategy and Analysis When Managers Have Proprietary Information
Provides a framework that helps explain these real-world observations about accounting and financial statement analysis. When managers have superior information on firms' strategies, and when investors suspect that managers have incentives not to fully disclose this...
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Palepu, Krishna G. "Note on Financial Reporting Strategy and Analysis When Managers Have Proprietary Information." Harvard Business School Background Note 190-188, May 1990. (Revised September 1994.)
- January 1982
- Article
A Negativity Bias in Interpersonal Evaluation
By: T. M. Amabile and A. H. Glazebrook
Two studies were conducted to demonstrate a bias toward negativity in evaluations of persons or their work in particular social circumstances. In Study 1, subjects evaluated materials written by peers. Those working under conditions that placed them in low status...
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Keywords:
Social Psychology;
Status and Position;
Prejudice and Bias;
Performance Evaluation;
Situation or Environment;
Perception;
Attitudes
Amabile, T. M., and A. H. Glazebrook. "A Negativity Bias in Interpersonal Evaluation." Journal of Experimental Social Psychology 18 (January 1982): 1–22.
- 1980
- Working Paper
Taxation and the Ex-dividend Day Behavior of Common Stock Prices
By: Jerry R. Green
The behavior of stock prices around ex-dividend days has been suggested as evidence for tax-induced clientele effects and as a means to estimate the average effective tax rate faced by investors. In this paper these possibilities are examined theoretically and...
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Green, Jerry R. "Taxation and the Ex-dividend Day Behavior of Common Stock Prices." NBER Working Paper Series, No. 496, July 1980.
- July 1977
- Article
Social Roles, Social Control and Biases in Social Perception Processes
By: L. D. Ross, T. M. Amabile and J. Steinmetz
To make accurate social judgments, an individual must both recognize and adequately correct for the self-presentation advantages or disadvantages conferred upon actors by their social roles. Two experiments using 120 undergraduates examined social perceptions formed...
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Keywords:
Perception;
Prejudice and Bias;
Social Psychology;
Judgments;
Power and Influence;
Status and Position;
Situation or Environment
Ross, L. D., T. M. Amabile, and J. Steinmetz. "Social Roles, Social Control and Biases in Social Perception Processes." Journal of Personality and Social Psychology 35, no. 7 (July 1977): 485–494.
- Forthcoming
- Article
Acceptance of Automated Vehicles Is Lower for Self than Others
By: Stuti Agarwal, Julian De Freitas, A. Ragnhildstveit and C. Morwedge
Road traffic accidents are the leading cause of death worldwide for people aged 2–59. Nearly all deaths are due to human error. Automated vehicles could reduce mortality risks, traffic congestion, and air pollution of human-driven vehicles. However, their adoption...
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Agarwal, Stuti, Julian De Freitas, A. Ragnhildstveit, and C. Morwedge. "Acceptance of Automated Vehicles Is Lower for Self than Others." Journal of the Association for Consumer Research (forthcoming).
- Teaching Interest
Executive Education: Finance for Senior Executives
By: Malcolm P. Baker
Finance for Senior Executives provides the frameworks to strategically use financial resources and position your company for future success. By examining corporate finance from both internal and external perspectives, this HBS Executive Education
- Research Summary
Overview
I develop machine learning tools and techniques which enable human decision makers to make better decisions. More specifically, my research addresses the following fundamental questions pertaining to human and algorithmic decision-making:
1. How to build... View Details
1. How to build... View Details
- Research Summary
Overview
Professor Coffman studies the sources of gender gaps in economically-important contexts. Her work focuses on the role of beliefs: how do stereotypes bias the beliefs that individuals hold about themselves (and others), and how do these biased beliefs shape...
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- Forthcoming
- Article
Reflexivity in Credit Markets
By: Robin Greenwood, Samuel G. Hanson and Lawrence J. Jin
Reflexivity is the idea that investors' biased beliefs affect market outcomes and that market outcomes in turn affect investors’ future biases. We develop a dynamic behavioral model of the credit cycle featuring this two-way feedback loop. Investors form beliefs about...
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Keywords:
Reflexivity
Greenwood, Robin, Samuel G. Hanson, and Lawrence J. Jin. "Reflexivity in Credit Markets." Journal of Finance (forthcoming).
- Forthcoming
- Article
Sampling Bias in Entrepreneurial Experiments
By: Ruiqing Cao, Rembrand Koning and Ramana Nanda
Using data from a prominent online platform for launching new digital products, we document that ‘sampling bias’—defined as the difference between a startup’s target customer base and the actual sample on which early ‘beta tests’ are conducted—has a systematic and...
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Cao, Ruiqing, Rembrand Koning, and Ramana Nanda. "Sampling Bias in Entrepreneurial Experiments." Management Science (forthcoming). (Pre-published online December 14, 2023.)