This chapter surveys the literature on behavioral industrial organization, covering four broad
topics:(1) how rational firms interact with consumers who make systematic mistakes in …

Just over 20 years have passed since the publication of Mark Carhart's landmark 1997 study
on mutual funds. Its conclusion—that the data did “not support the existence of skilled or …

Environmental, social, and governance (ESG) objectives have risen to near the top of the
agenda for corporate executives and boards, driven in large part by their perceptions of …

Many blame today's economic inequality, stagnation, and political instability on the free
market. The solution is to rein in the market, right? Radical Markets turns this thinking--and …

The rise of centralized mining pools for risk sharing does not necessarily undermine the
decentralization required for blockchains: because of miners' cross-pool diversification and …

We use insurance claims data covering 28% of individuals with employer-sponsored health
insurance in the United States to study the variation in health spending on the privately …

We develop an asset pricing model with flexible heterogeneity in asset demand across
investors, designed to match institutional and household holdings. A portfolio choice model …

This lecture considers the case for consumer financial regulation in an environment where
many households lack the knowledge to manage their financial affairs effectively. The …

Online search intermediaries, such as Amazon or Expedia, use rankings (ordered lists) to
present third-party sellers' products to consumers. These rankings decrease consumer …

We present a new model of investors delegating portfolio management to professionals
based on trust. Trust in the manager reduces an investor's perception of the riskiness of a …