The need for policy makers to understand science and for scientists to understand policy processes is widely recognised. However, the science-policy relationship is sometimes difficult and occasionally dysfunctional; it is also increasingly visible, because it must deal with contentious issues, or itself becomes a matter of public controversy, or both. We… (More)
This study examines the informational effects of unit of account choices in the context of a proposed standard on lease accounting. Standard-setters have tentatively decided that leases in excess of one year should be recognized on a lessee's balance sheet, including optional lease periods, even though the lessee can choose not to renew the lease. We argue… (More)
and seminar participants at Cornell University and the Inter-Disciplinary Center for helpful comments and suggestions. We are in debt to many individuals at three Wall-Street investment banks who gave us their time and were willing to participate in the experiments.
Current financial reporting guidance allows managers flexibility as to whether to disaggregate income statement items. Such flexibility is problematic if managers prefer to aggregate in some situations and disaggregate in others because we conjecture that investors' evaluations of firms will predictably differ depending on whether performance information is… (More)
We conduct a laboratory experiment to examine how task difficulty, coupled with three different types of performance feedback, affects the compensation plans that individuals select. We examine fixed pay and performance-based pay that provides additional compensation for above-average performance. We find that participants are more likely to choose… (More)
In 2009, the Natural History Museum, London celebrated the bicentenary of Charles Darwin and the sesquicentennial of his seminal work The Origin of Species by Means of Natural Section by commissioning a new contemporary artwork as a permanent insertion into the famous grade one listed Waterhouse architecture in South Kensington. This article explores the… (More)