This paper develops a unified framework to synthesize the growing stream of positive
research on the role of individual decision makers in shaping observed accounting …

The concept of imprinting has attracted considerable interest in numerous fields—including
organizational ecology, institutional theory, network analysis, and career research—and has …

The racial wealth gap is the largest of the economic disparities between Black and white
Americans, with a white-to-Black per capita wealth ratio of 6 to 1. It is also among the most …

Utilizing transaction-level financial data, we explore how household consumption
responded to the onset of the COVID-19 pandemic. As case numbers grew and cities and …

We provide one of the first systematic assessments of the development and determinants of
economic anxiety at the onset of the coronavirus pandemic. Using a global data set on …

What are the medium-to long-term effects of pandemics? Do they differ from other economic
disasters? We study major pandemics using rates of return on assets stretching back to the …

Politics may color interpretations of facts, and thus perceptions of risk. We find that a higher
share of Trump voters in a county is associated with lower perceptions of risk during the …

How do climate risk beliefs affect coastal housing markets? This paper provides theoretical
and empirical evidence. First, we build a dynamic housing market model and show that …

We study a newly designed survey administered to a large panel of wealthy retail investors.
The survey elicits beliefs that are important for macroeconomics and finance, and matches …

Using randomized control trials (RCTs) applied over time in different countries, we study
whether the economic environment affects how agents learn from new information. We show …