Publications

Game Theory: 5 Questions is a collection of short interviews based on 5 questions presented to some of the most influential and prominent scholars in the field. We hear their views on game theory, its aim, scope, use, the future direction of game…

Using a study of the relationship between bureaucratic work environments and individual rates of entrepreneurship, I revisit a fundamental premise of sociological approaches to entrepreneurship, namely, that the social context shapes the…

Insights into the origins of entrepreneurial activity are gained through a study of alternative mechanisms implicated in the tendency for children of the self-employed to be substantially more likely than other children to enter into self-…

Oblivious equilibrium is a new solution concept for approximating Markov perfect equilibrium in dynamic models of imperfect competition among heterogeneous firms and has recently been used in multiple economic studies. In this paper, we present…

We examine the relationship between income inequality and corporate demography in regional labor markets and specify two mechanisms through which the number and diversity of employers in a labor market affect wage dispersion. Vertical…

Milton Friedman argued that the social responsibility of firms is to maximize profits. This paper examines this argument for the economic environment envisioned by Friedman in which citizens can personally give to social causes and can invest in…

Based on comparative case studies of Apple Computers strategic actions in the music and cellular telephony industries, we develop the concept of cross-boundary disruptor as a new type of entrepreneurial actor in inter-industry strategic dynamics…

The findings and value of market research depend critically on consumers understanding of the research objectives and their roles. The present research presents a three-phase investigation of the impact of research participants theories about…

An N-player game can be approximated by adding a coordinator who interacts bilaterally with each player. The coordinator proposes strategies to the players, and his payoff is maximized when each player’s optimal reply agrees with his proposal.…

Based on a combination of exploratory field research and executive experience, this article proposes that defining the “Minimum Winning Game” (MWG) is a difficult yet critical responsibility of top management. It is essential to keep a high-…

Although a rich body of research has explored the sources of party polarization in the US House of Representatives, it has focused primarily on the House since the late 1970s. Drawing on a dataset of historical election outcomes, legislative…

We show that tests of market efficiency are sensitive to the inclusion of delisting firm-years. When included, trading strategy returns based on anomaly variables can increase (for strategies based on earnings, cash flows and the book-to-market…

In this paper we describe how margins in the channel vary over time within a product category and identify the market, manufacturer, and retailer characteristics that explain this variation. To obtain the equilibrium margins, we explicitly model…

This paper examines a common assertion that customers in reward programs become “locked in” as they accumulate credits toward earning a reward. We define a measure of switching costs and use a dynamic structural model of demand in a reward…

In this research, we investigate the impact of significant life experiences on intertemporal decisions among young adults. A series of experiments focus specifically on the impact of experiencing the death of a close other by cancer. We show that…

In the past 15 years, the IBM Company has undergone a remarkable transformation from a struggling seller of hardware to a successful broad range solutions provider. Underlying this change is a story of foresighted strategy and disciplined…

This study investigates how top management team (TMT) demographic characteristics affect firm outcomes for young high technology firms in Silicon Valley. We study how team composition and turnover shape an entrepreneurial firm’s ability to…

We describe a two-step algorithm for estimating dynamic games under the assumption that behavior is consistent with Markov perfect equilibrium. In the first step, the policy functions and the law of motion for the state variables are estimated.…

In this paper, we calculate the consequences for health spending and the federal budget of an above-the-line deduction for out-of-pocket health spending. We show how the response of spending to this expansion in the tax preference can be…