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The Chazen Institute features a snapshot of new research being conducted by Chazen Senior Scholars and its implications for global business. Links open into PDFs.
February 2019 — In the paper, “Attention Oligopoly,” Andrea Prat, Chazen Senior Scholar at Columbia Business School, and his co-author find the legality of online mergers, such as the one between Facebook and Instagram, are evaluated based on price-based competition models that, in the marketplace for consumer attention, do not apply.
February 2019 — In the paper, “What’s the Catch? Suspicion of Bank Motives and Sluggish Refinancing,” Stephan Meier, Chazen Senior Scholar at Columbia Business School, and his Columbia Business School colleagues Eric Johnson and Olivier Toubia investigate why U.S. homeowners are slow to consider refinancing options even when the terms could save them significant money, and what factors influence their decision not to refinance.
January 2019 — In the paper, “Fame as an Illusion of Creativity: Evidence from the Pioneers of Abstract Art,” Paul Ingram, Chazen Senior Scholar at Columbia Business School, and his co-author examine the link between fame, creativity, and social networks.
December 2018 — In the paper, “Saving More in Groups: Field Experimental Evidence from Chile,” Stephan Meier, Chazen Senior Scholar at Columbia Business School, and his co-authors test the effectiveness of peer feedback in helping people achieve their savings goals.
November 2018 — In the paper, “Detecting Urban Markets with Satellite Imagery,” Amit Khandelwal, Director of the Jerome A. Chazen Institute for Global Business, and his co-authors explore the emergence of satellite imagery as an increasingly valuable source for defining urban markets based on economic activity.
October 2018 — In the paper, “Re-Examining the Effects of Trading with China on Local Labor Markets: A Supply Chain Perspective,” Shang-Jin Wei, Chazen Senior Scholar at Columbia Business School, and his co-authors examine the direct and indirect effects of trading with China — and find that the net effect is not only positive for U.S. job growth, but also wage growth.
October 2018 — In “The Spread of Deposit Insurance and the Global Rise in Bank Asset Risk Since the 1970s,” Charles Calomiris, Chazen Senior Scholar at Columbia Business School, and his co-author track the expansion of deposit insurance generosity — and show that its steady rise has increased asset risk in banking systems by freeing banks from the constraints of market discipline.
September 2018 — In “Money, Sovereignty, and Optimal Currency Areas,” Patrick Bolton, Chazen Senior Scholar at Columbia Business School, and his co-author examine the costs of joining a monetary union and propose a pathway forward that would help member countries like those in the European Union avoid debt defaults.
September 2018 — In “Activist Arbitrage in M&A Acquirers,” Wei Jiang, Chazen Senior Scholar at Columbia Business School, and her co-authors study a new phenomenon in shareholder activism and provide evidence on how it affects target firms and activists returns.