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- All HBS Web (327)
- Faculty Publications (186)
- 02 Aug 2016
- First Look
August 2, 2016
the capital regulation of commercial banks? This paper builds a quantitative general equilibrium model with commercial banks and shadow banks to study the unintended consequences of capital requirements. A key feature of our model is...
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Sean Silverthorne
- 04 Jan 2012
- First Look
First Look: January 4
may be positive and is strictly lower than 1. We also investigate the possibility of platforms investing in "educating" unsophisticated users. In a competitive environment, such education is a public good among platforms and therefore the View Details
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Carmen Nobel
- 16 Apr 2013
- First Look
First Look: April 16
(and demand for redistribution) even if luck plays no role. In other words, there is multiplicity even if the equilibrium tax rate is independent of the signal-to-noise ratio (a quantity that expresses how important effort is, relative to...
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Sean Silverthorne
- 18 Sep 2007
- First Look
First Look: September 18, 2007
joint decision of holding sovereign debt and reserves, we construct a stochastic dynamic equilibrium model calibrated to a sample of emerging markets. We obtain that the reserve accumulation does not play a quantitative important role in...
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Martha Lagace
- 15 Dec 2015
- First Look
December 15, 2015
https://pubwww.hbs.edu/faculty/Pages/item.aspx?num=50187 Capital Requirements, Risk Choice, and Liquidity Provision in a Business Cycle Model By: Begenau, Juliane Abstract—This paper develops a quantitative dynamic general equilibrium model...
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Carmen Nobel
- 17 Jan 2012
- First Look
First Look: January 17
determine the equilibrium supply chain structure. These operational tradeoffs arise as a result of the geographic constraints posed by the availability of arable land and the spatial population distribution. We model the interdependent...
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Sean Silverthorne
- 05 Aug 2008
- First Look
First Look: August 5, 2008
upgrade sales to an installed base. When profits from the installed base are sufficiently large, a pure strategy equilibrium exists with two B firms active in the market. Although there is competition in the complement market, the...
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Martha Lagace
- 01 Dec 2005
- News
Trillion-Dollar Fixer-Upper
“Prices adjusted and real estate became more attractive. And we got back to relative equilibrium through the tech bust in 2001. After the bust, a lot of money began to pour into real estate.” Suddenly the old economy looked good again....
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- 29 Jan 2013
- First Look
First Look: Jan. 29
as well as recent articles that help give the reader a sense of where the field is headed and where likely opportunities for future research lie. This article seeks to strike an equilibrium among the variety of perspectives that exist in...
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Sean Silverthorne
- 23 Aug 2016
- First Look
August 23, 2016
ventures. We introduce a formal model of voting where agents face costly tacit information to improve their decision quality. Equilibrium outcomes suggest a theoretical tension for group decision-making between the benefits of information...
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Sean Silverthorne
- 04 Dec 2012
- First Look
First Look: December 4
show that the combination of preference for variety and consumption complementarities gives rise to (i) a commons problem (to better satisfy their individual preference for variety, users have an incentive to consume more applications than the number that maximizes...
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Carmen Nobel
- 01 Feb 2011
- First Look
First Look: Feb. 1
maximizes joint utility); (2) an equilibrium selection problem (consumption complementarities often lead to multiple equilibria, which result in different utility levels for the users); and (3) a coordination problem (lacking perfect...
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- 03 Mar 2009
- First Look
First Look: March 3, 2009
multihoming also make platforms' price-cutting strategies on the consumer side less effective. This second effect on equilibrium pricing structures goes in the opposite direction relative to the first one. Third, variable fees charged to...
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Martha Lagace
- 26 Feb 2008
- First Look
First Look: February 26, 2008
wealth is observed, the effect of higher wealth on equilibrium bribes is ambiguous (and that the political class will exhibit lower variance in consumption than the general population). In settings where formal contracts matter, we show...
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Martha Lagace
- 08 Sep 2016
- News
How We Make It Work
Edited by Julia Hanna and Dan Morrell Above: Josh Escher, hard at work as father Peter supervises. (photo by Michael Hanson) The phrase “work-life balance”—that mythical equilibrium between career and family responsibilities—has been...
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- 28 Sep 2010
- First Look
First Look: September 28, 2010
incentive to consume more applications than the social optimum to better satisfy their preference for variety); (2) an equilibrium selection problem (consumption complementarities often lead to multiple equilibria); and (3) a coordination...
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Sean Silverthorne
- 12 May 2009
- First Look
First Look: May 12, 2009
Authors:Eric J. Van den Steen Publication:American Economic Review (forthcoming) Abstract This paper develops a theory of the firm in which a firm's centralized asset ownership and low-powered incentives give the manager, as an View Details
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Martha Lagace
- 01 Jun 2022
- News
Blissful Thinking
brain is structured to lie to you. There is a process called homeostasis, or the tendency toward equilibrium. You can’t stay out of equilibrium for long, but you’re going to try to get back out of it again by chasing success [which...
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Dan Morrell; illustration by Dan Winters
- 08 Jul 2008
- First Look
First Look: July 8, 2008
http://www.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=607014 Asset Allocation I Harvard Business School Note 208-086 The goal of these simulations is to understand the mathematics of mean-variance optimization and the equilibrium...
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Martha Lagace
- 24 Feb 2014
- Research & Ideas
Busting Six Myths About Customer Loyalty Programs
competitive move would probably trigger retaliation from the attacked retailer, who would subsequently try to steal the focal retailer's loyal shoppers. It can easily be seen that such a strategy would punish all players, except the shopper. The condition for a...
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