Publications

The Price Impact of Institutional Herding” (with Amil Dasgupta and Michela Verardo), Review of Financial Studies, 24(3): 892-925, March 2011.

Institutional Trade Persistence and Long-Term Equity Returns” (with Amil Dasgupta and Michela Verardo), Journal of Finance, 66(2): 635-653, April 2011 (previously circulated under the title “The Price of Conformism”).

"Is Private Campaign Finance a Good Thing? Estimates of the Potential Informational Benefits” (with Riccardo Puglisi and Jim Snyder), Quarterly Journal of Political Science, 5(3): 291-318, December 2010.

Active and Passive Waste in Government Spending: Evidence from a Policy Experiment” (with Oriana Bandiera and Tommaso Valletti), American Economic Review, 99(4): 1278-1308, September 2009.

“Reputation and Price Dynamics: A Theory of Information Cascades and Systematic Mispricing” (with Amil Dasgupta), working paper, Journal of Economic Theory, 143(1): 83-113, November 2008.

Language and the Theory of the Firm” (with Jacques Cremer and Luis Garicano – previously circulated under the title “Codes in Organizations”), Quarterly Journal of Economics 122(1): 373-407, 2007.

Handcuffs for the Grabbing Hand? Media Capture and Political Accountability” (with Timothy Besley), American Economic Review 96(3): 720-736, June 2006.

Financial Equilibrium with Career Concerns,” Theoretical Economics, Volume 1, Issue 1, March 2006.

"The Wrong Kind of Transparency,” American Economic Review 95(3): 862-877, June 2005.

Games Played through Agents” (with Aldo Rustichini), Econometrica 71(4): 989-1026, 2003.

Risk Taking and Optimal Contracts for Money Managers” (with Fred Palomino), RAND Journal of Economics, 34(1): 113-137, 2003.

Campaign Advertising and Voter Welfare,” Review of Economic Studies, 69(4): 997-1017, 2002.

“How Homogeneous Should a Team Be?” European Economic Review, (46)7: 1187-1207, 2002.

Campaign Spending with Office-Seeking Politicians, Rational Voters, and Multiple Lobbies,” Journal of Economic Theory, 103(1): 162-189, 2002.

Inefficient Equilibria in Lobbying” (with Georg Kirchsteiger), Journal of Public Economics, (82)3: 349-375, 2001.

The Value of Public Information in Monopoly” (with Marco Ottaviani), Econometrica, 69(6): 1673-1683, 2001.

“Hierarchies of Processors with Endogenous Capacity,” Journal of Economic Theory, 77(1), 1997.

“Shared Knowledge vs. Diversified Knowledge in Teams,” Journal of the Japanese and International Economies, 10, 1996.

Working Papers

Screening with an Approximate Type Space” (with Kristóf Madarász), CEPR Discussion Paper 7900, June 2010.

Spatial Asset Pricing: A First Step” (with François Ortalo-Magné), CEPR Discussion Paper 7842, May 2010.

Endogenous Communication in Complex Organizations” (with Antoni Calvó-Armengol and Joan de Martí).

What Do CEOs Do?” (with Oriana Bandiera, Luigi Guiso and Raffaella Sadun), CEPR Discussion Paper 8235, February 2011 (featured in The Economist, 5 May 2011).

Organizational Economics with Cognitive Costs,” (with Luis Garicano), in preparation for: Advances in Economics and Econometrics: Theory and Applications, Proceedings of the Tenth World Congress of the Econometric Society.

The Political Economy of Mass Media,” (with David Strömberg), in preparation for: Advances in Economics and Econometrics: Theory and Applications, Proceedings of the Tenth World Congress of the Econometric Society.

Measuring the Impact Factor of Agents within an Organization Using Communication Patterns,” (with Ignacio Palacios-Huerta), CEPR Discussion Paper 8040, October 2010.

Matching Firms, Managers, and Incentives” (with Oriana Bandiera, Luigi Guiso and Raffaella Sadun), CEPR Discussion Paper 7207, March 2009.

The Political Economy of Housing Supply” (with François Ortalo-Magné), working paper, 2010.

Commercial Television and Voter Information” (with David Strömberg), CEPR Discussion Paper 4989, April 2005.