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Intra-firm Bargaining Under Nonbinding Contracts
We present a new methodology for studying the problem of intra-firm bargaining, based on the notion that contracts cannot commit the firm and its agents to wages and employment. We develop and analyze a general non-cooperative multilateral…
Keeping a Job: Networking Hiring and Turnover in a Retail Bank
Abstract not available.
Lobbying and Incentives for Legislative Organizations
Formal theories of the internal organization of legislature have mainly focused on the United States Congress. While these models have been successful in showing why committee systems should emerge in Congress, they fail to explain the variance…
Looking for Loss Aversion in Scanner Panel Data: The Confounding Effect of Price-Response Heterogeneity
Recent work in marketing has drawn on behavioral decision theory to advance the notion that consumers evaluate attributes not just in absolute terms, but as deviations from a reference point. Using scanner panel data, choice modelers have…
Marketing Information: A Competitive Analysis
Selling information that is later used in decision making constitutes an increasingly important business in modern economies (Jensen 1991). Information is sold under a large variety of forms: industry reports, consulting services, database access…
Markets and Hierarchies and (Mathematical) Economic Theory
Matrix Organization
This paper presents a theory of the internal organization of a decentralized firm that operates along more than one dimension; e.g., a multiproduct firm that operates along more than one dimension; e.g. a multiproduct firm that operates in more…
Modes of Interorganizational Imitation: The Effects of Outcome Salience and Uncertainty
Drawing primarily on neoinstitutional and learning theories, we distinguish three distinct modes of selective interorganizational imitation: frequent imitation, where organizations copy very common practices; trait imitation, where organizations…
A New Approach to the Regulation of Trading Across Securities Markets
Trading the same security in more than one market, commonly known as multimarket trading, is becoming an increasingly widespread phenomenon both across and within countries. For example, the London Stock Exchange, the third largest stock market…
On Biases in Tests of the Expectations Hypothesis of the Term Structure of Interest Rates
We document extreme bias and dispersion in the small sample distributions of five standard regression tests of the expectations hypothesis of the term structure of interest rates. These biases, derive from the extreme persistence in short…
Organizational Justice in the Global Economy: How Justice Perceptions are Influenced by Culture and Ethnicity
Abstract not available.
Pluralistic Ignorance and the Perpetuation of Social Norms by Unwitting Actors
Pluralistic ignorance begins with a discrepancy between public actions and private sentiments, typically produced by widespread behavioral adherence to a social norm. Pluralistic ignorance is a pervasive feature of social life and is found to…
Predisposing the Decision Maker Versus Framing the Decision: A Consumer-Manipulation Approach to Dynamic Preference
The dominant approach to the study of dynamic preference is to generate preference change by manipulating aspects of decision-problem presentation (problem description, task procedure, contextual options). The predisposing approach instead holds…
Relative Explanatory Power of Agency Theory and Transaction Cost Analysis in German Salesforces
In this paper we take an integrated view of Transaction Cost Analysis and Agency Theory to study the direct vs rep decision and the design of compensation plans in German salesforces. While we attempt to investigate the generalizability of the…
Sticky Prices, Inventories, and Market Power in Wholesale Gasoline Markets
We present and test an explanation for lags in the adjustment of wholesale gasoline prices to changes in crude oil prices. Our simple model with costly adjustment of production and inventories implies that output prices will respond with a lag to…
Strategic Alliances: Contrasting Korean/US Preferences
This study examines several contrasts and similarities between Korean and US executive approaches to certain aspects of strategic alliances. The underlying research premise is that better understanding of the typical similarities and differences…
Strategic Business Exit and Corporate Transformation: Evolving Links of Technology Strategy and Substantive and Generic Corporate Strategies
The chapter suggests that in high-technology companies the processes involved in strategic business exit and corporate transformation are driven by the evolving links of technology strategy, and substantive and generic corporate strategies.…
Strategic Groups: Comparing Cognitive and Objective Approaches
This research compares two different approaches to identifying strategic groups, a cognitive approach, which reflects the perceptions of managers competing in the industry, an an objective approach, which reflects objective product-market…
Strategic Trading and Welfare in a Dynamic Market
This paper studies a dynamic model of a financial market with N strategic agents. Agents receive random stock endowments at each period and trade to share dividend risk. Endowments are the only private information in the model. We find that…
Strategic Trading in a Dynamic Noisy Market
This paper studies a dynamic, stationary model of a financial market with a large trader and small noise trader. At each period the large trader receives a privately observed stock endowment, and trades with competitive market-makers in order to…