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All HBS Web
(1,844)
- People (2)
- News (354)
- Research (1,091)
- Events (12)
- Multimedia (2)
- Faculty Publications (462)
- 11 Oct 2021
- News
Nobel Winners Found Economic Experiments in the Real World
- 2024
- Working Paper
Transitory and Permanent Cash Flow Shocks in Debt Contract Design
By: Le Ma, Anywhere Sikochi and Yajun Xiao
We examine how lenders design contracts to account for transitory and permanent cash flow shocks facing borrowers. We find that volatile transitory cash flow shocks are associated with fewer liquidity covenants, indicating financial flexibility that enables firms to...
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Keywords:
Debt Covenants;
Cash Flow Shocks;
Debt Contracting;
Likelihood Of Default;
Cash Flow;
System Shocks
Ma, Le, Anywhere Sikochi, and Yajun Xiao. "Transitory and Permanent Cash Flow Shocks in Debt Contract Design." Harvard Business School Working Paper, No. 22-026, October 2021. (Revised February 2024. Journal of Financial and Quantitative Analysis, Conditional Accept.)
- 05 Dec 2013
- What Do You Think?
Is Walmart Defying Economic Gravity?
Original Article There is a body of research that seeks to relate economics to human biology. It's usually associated with the notion that the life cycles of businesses parallel stages of biological life: birth, rapid growth, maturity,...
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- Web
Business Economics Online Course | HBS Online
program, Economics for Managers is also one component course of the Credential of Readiness (CORe) program, which also includes Business Analytics and Financial Accounting. Designed for those interested in...
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- 19 May 2010
- Working Paper Summaries
The Job Market for New Economists: A Market Design Perspective
- Article
The Job Market for New Economists: A Market Design Perspective
By: Peter A. Coles, John Cawley, Phillip B. Levine, Muriel Niederle, Alvin E. Roth and John J. Siegfried
This paper, written by the members of the American Economic Association (AEA) Ad Hoc Committee on the Job Market, provides an overview of the market for new Ph.D. economists. It describes the role of the AEA in the market and focuses in particular on two mechanisms...
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Coles, Peter A., John Cawley, Phillip B. Levine, Muriel Niederle, Alvin E. Roth, and John J. Siegfried. "The Job Market for New Economists: A Market Design Perspective." Journal of Economic Perspectives 24, no. 4 (Fall 2010): 187–206.
- 01 Sep 2023
- News
The Exchange: Where Ethics Meet Economics
Max Bazerman and Mike Luca (Image by John Ritter) What makes people behave the way they do—and to what degree are design choices influencing that? Associate Professor Mike Luca studies the design of online...
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- April 2015
- Case
Accor: Designing an Asset-Right Business and Disclosure Strategy
By: Mozaffar Khan and George Serafeim
Sebastien Bazin was now in charge of Accor, the world's largest French hotelier, a CAC 40 company with 3,600 hotels in 92 countries and a market cap of €10 billion. Previously as the European head of Colony Capital, one of the largest private equity groups and the...
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Khan, Mozaffar, and George Serafeim. "Accor: Designing an Asset-Right Business and Disclosure Strategy." Harvard Business School Case 115-036, April 2015.
- 05 May 2014
- Working Paper Summaries
Firms and the Economics of Skilled Immigration
- 16 Sep 2015
- Research & Ideas
Can Applied Economics Save Homeless Puppies?
In 2012, two seasoned scholars shared the Nobel Memorial Prize in Economic Sciences for their research on designing markets. Lloyd Shapley had developed theoretical methods to create stable matches in...
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- 01 Dec 2009
- News
An Action Plan for Economic Recovery
designate a knowledgeable person, independent of both issuers and rating agencies, to select a rating agency for the bond issuer and negotiate a rating fee. This would eliminate the two worst abuses: the issuer shopping for a higher...
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- December 2020
- Article
The Parable of the Auctioneer: Complexity in Paul R. Milgrom's Discovering Prices
By: Scott Duke Kominers and Alexander Teytelboym
Designing marketplaces in complex settings requires both novel economic theory and real-world engineering, often drawing upon ideas from fields such as computer science and operations research. In Discovering Prices, Milgrom (2017) explains the theory and design...
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Kominers, Scott Duke, and Alexander Teytelboym. "The Parable of the Auctioneer: Complexity in Paul R. Milgrom's Discovering Prices." Journal of Economic Literature 58, no. 4 (December 2020): 1180–1196.
- 01 Dec 1997
- News
Merton's Economics Research Wins Nobel Prize
is hard to overstate." Carliss Y. Baldwin, the William L. White Professor of Business Administration at the School, commented, "Bob's methods have been applied to an enormously wide range of economic problems, ranging from pure theory to...
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- Summer, 2021
- Article
The Economics of Energy Efficiency in Developing Countries
By: Meredith Fowlie and Robyn C. Meeks
Almost all of the world’s energy demand growth is projected to occur in low- and medium-income countries (LMICs). Targeted energy efficiency investments have the potential to mitigate tensions between economic growth objectives and sustainable development commitments....
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Fowlie, Meredith, and Robyn C. Meeks. "The Economics of Energy Efficiency in Developing Countries." Review of Environmental Economics and Policy 15, no. 2 (Summer, 2021): 238–260.
- fall 2007
- Article
The Design of Patent Pools: The Determinants of Licensing Rules
By: Josh Lerner, Marcin Strojwas and Jean Tirole
Patent pools are an important but little-studied economic institution. In this paper, we first make a set of predictions about the licensing terms associated with patent pools. The theoretical framework predicts that (a) pools consisting of complementary patents are...
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Keywords:
Governing Rules, Regulations, and Reforms;
Collaborative Innovation and Invention;
Patents;
Rights
Lerner, Josh, Marcin Strojwas, and Jean Tirole. "The Design of Patent Pools: The Determinants of Licensing Rules." RAND Journal of Economics 38, no. 3 (fall 2007): 610–625. (Earlier version distributed as National Bureau of Economic Research Working Paper No. 9680.)
- 30 Oct 2018
- Working Paper Summaries
Design Rules, Volume 2: How Technology Shapes Organizations: Chapter 5 Complementarity
Keywords:
by Carliss Y. Baldwin
- 08 Sep 2015
- Working Paper Summaries
Through the Grapevine: Network Effects on the Design of Executive Compensation Contracts
Keywords:
by Susanna Gallani
- April 2011
- Article
Behavioral Economics Perspectives on Public Sector Pension Plans
By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian
We describe the pension plan features of the states and the largest cities and counties in the U.S. Unlike in the private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few jurisdictions have shifted towards defined...
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Keywords:
Equality and Inequality;
Public Sector;
Retirement;
Private Sector;
Compensation and Benefits;
United States
Beshears, John, James J. Choi, David Laibson, and Brigitte C. Madrian. "Behavioral Economics Perspectives on Public Sector Pension Plans." Journal of Pension Economics & Finance 10, no. 2 (April 2011): 315–336.
- 2016
- Working Paper
Market Design for Altruistic Supply: Evidence from the Lab
By: Robert Slonim and Carmen Wang
Volunteer supply is widespread. Yet without a price, inefficiencies occur due to suppliers’ inability to coordinate with each other and with demand. In these contexts, we propose a market clearinghouse mechanism that improves efficiency if supply is altruistically...
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Keywords:
Laboratory Experiments;
Volunteering;
Public Goods Provision;
Market Design;
Philanthropy and Charitable Giving;
Economics
Slonim, Robert, and Carmen Wang. "Market Design for Altruistic Supply: Evidence from the Lab." Harvard Business School Working Paper, No. 16-112, March 2016.
- 29 Sep 2008
- Research & Ideas
How Economics May Lead to Better Football Games
quality of games is that, thanks to tweaks in the design of postseason matchups, teams at the highest championship level more often find themselves facing their true competitive counterparts. It was not always so. Until 1992, as HBS...
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