Publications

This paper investigates the extent to which the economic challenges faced by symphony orchestras in the United States reflect collectively bargained wage increases and work rules. Since the late 1960s, collective bargaining agreements have…

Economic analysis of corporate takeovers has traditionally advocated legal doctrines that ensure a target company in a takeover contest is acquired by the bidder willing to pay the most for it. The reason stems from the conventional assumption…

We consider a cross-calibration test of predictions by multiple potential experts in a stochastic environment. This test checks whether each expert is calibrated conditional on the predictions made by other experts. We show that this test is good…

This report provides factual data on cyclical trends in the economic health of symphony orchestras and, secondly, looks at the influences of these trends on performance and nonperformance revenues and expenses of orchestras. The hope is that…

For much of its history, Wal-Mart’s corporate management team toiled inside its “Bentonville Bubble,” narrowly focused on operational efficiency, growth, and profits. But now the world’s largest retailer has widened its sights, building networks…

This research examines how a focus on time versus money can lead to two distinct mindsets that impact consumers’ willingness to donate to charitable causes. The results of three experiments, conducted both in the lab and in the field, reveal that…

This research examines how a focus on time versus money can lead to two distinct mindsets that impact consumers’ willingness to donate to charitable causes. The results of three experiments, conducted both in the lab and in the field, reveal that…

The newsvendor problem has numerous applications for decision making in manufacturing and service industries as well as decision making by individuals. It occurs whenever the amount needed of a given resource is random, a decision must be made…

Sociologists and other social scientists have long recognized that certain economic transactions involve more than a simple trade of goods or services for money. A long-standing theme in economic anthropology and sociology emphasizes the symbolic…

The present paper provides evidence that dominant-group members distinguish dominance framed as ingroup superiority from dominance framed as outgroup inferiority, and that ingroup superiority enhances esteem for, and thus identification with, the…

What types of products are preferred when the purchase is immediate versus off in the distant future? Three experiments address this question by examining the influence of temporal perspective on evaluations of regulatory-framed products. The…

What types of products are preferred when the purchase is immediate versus off in the distant future? Three experiments address this question by examining the influence of temporal perspective on evaluations of regulatory-framed products. The…

This paper analyses the incentives that shaped Hindu and Muslim interaction in India’s towns from the rise of Islam to the rise of European intervention in the 17th century; it argues that differences in the degree to which medieval Hindus and…

In 2007 and 2008, the price of oil skyrocketed, hitting historic highs. The corresponding increase in gas price was felt sharply in the United States by ordinary people, industries, the military and the government. Citizens were spending more and…

Prices for goods such as blades for razors, ink for printers and concessions at movies are often set well above cost. This paper empirically analyzes concession sales data from a chain of Spanish theaters to demonstrate that high prices on…

Researchers have long recognized the importance of studying resistance to attitude change. As reviewed at the outset of this chapter, resistance research over the years largely has focused on understanding when, why, and how people resist. In the…

manufacturer writes supply contracts with N buyers. Then, the buyers invest in innovation, and the manufacturer builds capacity. Finally, demand is realized, and the firms renegotiate the supply contracts to achieve…