Publications and Forthcoming
An increase in the proportion of functional managers in top management teams of US firms since the mid-1980s was driven by (i) improvements in information technology and (ii) reduced firm diversification.
In random-demand models of monopolistic competition with many sellers, competition has little impact on prices for a broad range of distributional assumptions.
Journal of Economics & Management Strategy, forthcoming
Vertical integration increases incentives for inefficient rent-seeking, especially in developing countries where corporate governance is poor.
Journal of Law, Economics, & Organization, forthcoming
Productive organizations that seek to develop shared culture and knowledge should limit growth rates and avoid acquisitive growth.
In a repeated cheap-talk game where voluntary monetary transfers serve both to signal information and to incentivize decision-making, intuitive and tractable patterns of optimal communication emerge.
To simultaneously signal wealth and social capital, consumers choose imperfectly conspicuous signals such as subtly-labelled luxury goods.
The Dynamics of Policy Complexity • slides
Inefficiently complex public policy is a likely and persistent outcome when policy elements are interdependent and policymakers are in conflict.
Selected Research in Progress
Continuous versus Episodic Reorganizations • slides
In complex, highly interdependent systems such as organizations and software programs, optimal adaptation involves episodic, discrete reorganizations.
A practitioner-oriented discussion of the functional manager's role in the C-Suite, based on findings from Guadalupe, Li and Wulf (2014).
The Conversation, October 12th, 2016
A beginner's introduction to some of Oliver Hart and Bengt Holmström's most influential papers.