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- HBS Book
Right Kind of Wrong: The Science of Failing Well
By: Amy EdmondsonA revolutionary guide that will transform your relationship with failure, from the pioneering researcher of psychological safety and award-winning Harvard Business School professor Amy Edmondson. We used to think of failure as the opposite of success. Now, we’re often torn between two “failure cultures”: one that says to avoid failure at all costs, the other that says fail fast, fail often. The trouble is that both approaches lack the crucial distinctions to help us separate good failure from bad. As a result, we miss the opportunity to fail well. After decades of award-winning research, Amy Edmondson is here to upend our understanding of failure and make it work for us.
- HBS Book
Right Kind of Wrong: The Science of Failing Well
By: Amy EdmondsonA revolutionary guide that will transform your relationship with failure, from the pioneering researcher of psychological safety and award-winning Harvard Business School professor Amy Edmondson. We used to think of failure as the opposite of success. Now, we’re often torn between two “failure cultures”: one that says to avoid failure at all...
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- Quarterly Journal of Economics 139, no. 1 (February 2024): 575-635
Representation and Extrapolation: Evidence from Clinical Trials
By: Marcella Alsan, Maya Durvasula, Harsh Gupta, Joshua Schwartzstein and Heidi L. WilliamsThis article examines the consequences and causes of low enrollment of Black patients in clinical trials. We develop a simple model of similarity-based extrapolation that predicts that evidence is more relevant for decision-making by physicians and patients when it is more representative of the group that is being treated. This generates the key result that the perceived benefit of a medicine for a group depends not only on the average benefit from a trial, but also on the share of patients from that group who were enrolled in the trial. In survey experiments, we find that physicians who care for Black patients are more willing to prescribe drugs tested in representative samples, an effect substantial enough to close observed gaps in the prescribing rates of new medicines.
- Quarterly Journal of Economics 139, no. 1 (February 2024): 575-635
Representation and Extrapolation: Evidence from Clinical Trials
By: Marcella Alsan, Maya Durvasula, Harsh Gupta, Joshua Schwartzstein and Heidi L. WilliamsThis article examines the consequences and causes of low enrollment of Black patients in clinical trials. We develop a simple model of similarity-based extrapolation that predicts that evidence is more relevant for decision-making by physicians and patients when it is more representative of the group that is being treated. This generates the key...
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- Institute for the Study of Business in Global Society
'Care in Every Drop': Ayala Corporation and Manila Water (A)
By: Debora L. Spar, Paul Healy, Tricia Peralta and Julia M. ComeauSince 1834, eight generations of the Ayala family have used their conglomerate to fund nation-building projects in the Philippines, including investments in tramcars, telecommunications, hospitals, and schools. In 1997, Ayala’s subsidiary, Manila Water, took control of the failing water distribution system in Metro Manila’s east zone, vowing to rebuild the infrastructure and bring cleaner, safer, and more widespread water to the area. Manila Water largely succeeded in this mission in its early years, but, as time went on and the climate grew more unpredictable, it became increasingly difficult to source water for the growing population.
- Institute for the Study of Business in Global Society
'Care in Every Drop': Ayala Corporation and Manila Water (A)
By: Debora L. Spar, Paul Healy, Tricia Peralta and Julia M. ComeauSince 1834, eight generations of the Ayala family have used their conglomerate to fund nation-building projects in the Philippines, including investments in tramcars, telecommunications, hospitals, and schools. In 1997, Ayala’s subsidiary, Manila Water, took control of the failing water distribution system in Metro Manila’s east zone, vowing to...
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- Featured Case
Frank Cornelissen: The Great Sulfite Debate (A)
By: Tiona Zuzul and Susan PinckneyIn 2018, artisanal Italian vineyard Frank Cornelissen was one of the world’s leading natural wine vineyards. Its founder, Frank Cornelissen, faced weather related conditions that forced him to have to decide between staying true to the tenets of the natural wine community or breaking with his public beliefs to save that year’s wines.
- Featured Case
Frank Cornelissen: The Great Sulfite Debate (A)
By: Tiona Zuzul and Susan PinckneyIn 2018, artisanal Italian vineyard Frank Cornelissen was one of the world’s leading natural wine vineyards. Its founder, Frank Cornelissen, faced weather related conditions that forced him to have to decide between staying true to the tenets of the natural wine community or breaking with his public beliefs to save that year’s wines.
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- Featured Case
Data-Driven Denim: Financial Forecasting at Levi Strauss
By: Mark EganThe case examines Levi Strauss’ journey in implementing machine learning and AI into its financial forecasting process. The apparel company partnered with the IT company Wipro in 2017 to develop a machine learning algorithm that could help Levi Strauss forecast its revenues and earnings. The CFO of Levi Strauss, Harmit Singh, believed incorporating AI and machine learning into Levi Strauss’ forecasting process would make the process more efficient and the resulting forecasts more accurate. While the algorithm led to more accurate forecasts, there were challenges to implementing and interpreting the AI-produced forecasts.
- Featured Case
Data-Driven Denim: Financial Forecasting at Levi Strauss
By: Mark EganThe case examines Levi Strauss’ journey in implementing machine learning and AI into its financial forecasting process. The apparel company partnered with the IT company Wipro in 2017 to develop a machine learning algorithm that could help Levi Strauss forecast its revenues and earnings. The CFO of Levi Strauss, Harmit Singh, believed...
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- Working Paper
The Value of Open Source Software
By: Manuel Hoffmann, Frank Nagle and Yanuo ZhouThe value of a non-pecuniary (free) product is inherently difficult to assess. A pervasive example is open source software (OSS), a global public good that plays a vital role in the economy and is foundational for most technology we use today. However, it is difficult to measure the value of OSS due to its non-pecuniary nature and lack of centralized usage tracking. Therefore, OSS remains largely unaccounted for in economic measures. Although prior studies have estimated the supply-side costs to recreate this software, a lack of data has hampered estimating the much larger demand-side (usage) value created by OSS. Therefore, to understand the complete economic and social value of widely-used OSS, we leverage unique global data from two complementary sources capturing OSS usage by millions of global firms.
- Working Paper
The Value of Open Source Software
By: Manuel Hoffmann, Frank Nagle and Yanuo ZhouThe value of a non-pecuniary (free) product is inherently difficult to assess. A pervasive example is open source software (OSS), a global public good that plays a vital role in the economy and is foundational for most technology we use today. However, it is difficult to measure the value of OSS due to its non-pecuniary nature and lack of...
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- HBS Working Paper
When Insurers Exit: Climate Losses, Fragile Insurers, and Mortgage Markets
By: Pari Sastry, Ishita Sen and Ana-Maria TenekedjievaThis paper studies how homeowners insurance markets respond to growing climate losses and how this impacts mortgage market dynamics. Using Florida as a case study, we show that traditional insurers are exiting high risk areas, and new lower quality insurers are entering and filling the gap. These new insurers service the riskiest areas, are less diversified, hold less capital, and 20 percent of them become insolvent. We trace their growth to a lax insurance regulatory environment. Yet, despite their low quality, these insurers secure high financial stability ratings, not from traditional rating agencies, but from emerging rating agencies. Importantly, these ratings are high enough to meet the minimum rating requirements set by government-sponsored enterprises (GSEs).
- HBS Working Paper
When Insurers Exit: Climate Losses, Fragile Insurers, and Mortgage Markets
By: Pari Sastry, Ishita Sen and Ana-Maria TenekedjievaThis paper studies how homeowners insurance markets respond to growing climate losses and how this impacts mortgage market dynamics. Using Florida as a case study, we show that traditional insurers are exiting high risk areas, and new lower quality insurers are entering and filling the gap. These new insurers service the riskiest areas, are less...
Initiatives & Projects
Institute for Business in Global Society
Seminars & Conferences
- 18 Apr 2024
Omar Besbes, Columbia Business School
- 23 Apr 2024
Rebecca Hamilton, Georgetown University
Recent Publications
Enhancing Value and Well-Being: The Basket of Motivators Framework for Aligning Neurology Clinical Practices with Performance Outcomes
- June 2024 |
- Article |
- Neurology: Clinical Practice
Real Growth in Space Manufacturing Output Substantially Exceeds Growth in the Overall Space Economy
- June 2024 |
- Article |
- Acta Astronautica
Moral Thin-Slicing: Forming Moral Impressions from a Brief Glance
- May 2024 |
- Article |
- Journal of Experimental Social Psychology
Spotify Lyrics: Free or Paid?
- April 2024 |
- Case |
- Faculty Research
Business Experiments as Persuasion
- 2024 |
- Working Paper |
- Faculty Research
Does the Case for Private Equity Still Hold?
- 2024 |
- Working Paper |
- Faculty Research
Zegna
- April 2024 |
- Teaching Note |
- Faculty Research
NBIM and the Norwegian Sovereign Wealth Fund
- April 2024 |
- Teaching Note |
- Faculty Research