Organizations & Markets

Media concentration has been an issue around the world. To some observers the power of large corporations has never been higher. To others, the Internet has brought openness and diversity. What perspective is correct? The answer has significant implications for politics, business, culture, regulation, and innovation. It addresses a highly contentious subject of public debate in many countries around the world. In this discussion, one side fears the emergence of media empires that can sway public opinion and endanger democracy.

Prior research suggests that stress can be harmful in high-stakes contexts such as negotiations. However, few studies actually measure stress physiologically during negotiations, nor do studies offer interventions to combat the potential negative effects of heightened physiological responses in negotiation contexts. In the current research, we offer evidence that the negative effects of cortisol increases on negotiation performance can be reduced through a reappraisal of anxiety manipulation.

Prior research has shown that an individual's hormonal profile can influence the individual's social standing within a group. We introduce a different construct — a collective hormonal profile — which describes a group's hormonal make-up. We test whether a group's collective hormonal profile is related to its performance. Analysis of 370 individuals randomly assigned to work in 74 groups of three to six individuals revealed that group-level concentrations of testosterone and cortisol interact to predict a group's standing across groups.

The notion that effort and hard work yield desired outcomes is ingrained in many cultures and affects our thinking and behavior. However, could valuing effort complicate our lives? In the present article, the authors demonstrate that individuals with a stronger tendency to link effort with positive outcomes end up complicating what should be easy decisions. People distort their preferences and the information they search and recall in a manner that intensifies the choice conflict and decisional effort they experience before finalizing their choice.

The study of multicultural identity has gained prominence in recent decades and will be even more urgent as the mobility of individuals and social groups becomes the "new normal." This paper reviews the state-of-the-art theoretical advancements and empirical discoveries of multicultural identity processes at the intrapersonal, interpersonal, and collective (e.g., organizational, societal) levels. First, biculturalism has more benefits for individuals’ psychological and sociocultural adjustment than monoculturalism.

This paper examines the effects of employer social responsibility on the wages workers demand through randomized field experiments in two online labor marketplaces. Workers were recruited for short-term jobs and I manipulated whether or not they received information about the employer's social responsibility. I then observed the payment workers were willing to accept for the job.

In this essay, we criticize how the performativity thesis, as described and exemplified in Do Economists Make Markets, has focused primarily on the field of economics generally and business school–based financial economics consequently. By doing so the performativity literature has ignored whether, when, and how financial economics outperforms, or might be outperformed by, other business school sciences, such as management.

Sialkot, Pakistan is the world center of hand-stitched soccer-ball production, home to roughly 130 firms, which produce for all major brands (Atkin et al 2015a, 2015b). At first blush, the existence of this cluster is puzzling. Pakistanis’ sporting passion is cricket; soccer has always been of marginal interest in the country. One might be tempted to dismiss the existence of a cluster where there is no apparent local demand as an anomaly, curious in itself but not indicative of a deeper pattern. But the phenomenon is not uncommon.

We document that contractual disclosures by intermediaries during the sale of mortgages contained false information about the borrower's housing equity in 7–14% of loans. The rate of misrepresented loan default was 70% higher than for similar loans. These misrepresentations likely occurred late in the intermediation and exist among securities sold by all reputable intermediaries. Investors — including large institutions — holding securities with misrepresented collateral suffered severe losses due to loan defaults, price declines, and ratings downgrades.