Publications

Emergence of the symbolic management perspective in the organizational studies literature has turned attention to the use of impression management strategies by leaders. When events occur that have potential to either detract from or contribute…

We augment efficiency-based theories of ownership by including influence costs. Our principal conclusion is that the prospect of organizational decline and layoffs creates additional influence costs in multi-unit organizations that would be…

This article presents a framework for setting organizational vision. “Vision” is a term frequently tossed about by academics and practicing managers, but there’s been a scarcity of clear concepts and useful tools — in short, the absence of a…

This paper analyzes the combination of ownership and signal-based bonus offered by investors to the firm’s manager. As an incentive, stock ownership differs from signal-based bonuses. The risk inherent in ownership is unavoidable, while the risk…

Institutional theory argues that organizational actions are often motivated by a desire to increase the organization’s legitimacy. We assess whether organizational actors’ perceptions of legitimacy (or the lack thereof) appear to impact a major…

This paper examines the effect of periodic stock market closure on transactions demand and volume of trade, and consequently bid and ask prices. We extend Merton (1971) to show that transactions demand at open and close is greater and less…

Customer input via conjoint analysis is used to assess relative importances for the multiple attributes that characterize the marketing image of a company. Management input is used to determine how expensive it would be (in terms of financial and…

Most markets clear through a sequence of sales rather than through a Walrasian auctioneer. Because buyers can decide between buying now or later, rather than only now or never, buyers’ current “willingness to pay’ is much more sensitive to price…

We consider a single-product firm in which arriving orders are processed by an information processing system before being downloaded to the production system. The design problem is to choose an appropriate technology for the information (…

A series of recent analytic papers have investigated the issue of how to compensate a salesforce using either the agency theory paradigm or transaction cost analysis. Similarly other more descriptive investigations have led to practical…

Recent studies have documented a pervasive pattern of judgmental bias in negotiations. To explain such biases, previous research has focused primarily on how cognitive processes affect negotiation processes. In contrast, the present study…

Research on negotiations has flourished over the past several years. Much of this work has focused on cognitive biases in negotiations. However, the role social processes play in negotiations has received surprisingly little attention from…

The span of a given collection of securities is the set of state-contingent claims to value that can be obtained by trading the securities. In a simple one-period model, this is literally the linear span (the set of all finite linear combinations…

This paper presents a model of electoral competition in which candidates raise campaign contributions from interest groups by choosing policies that serve the interests of those groups and expend those contributions to influence uninformed voters…

Organizations often hire workers whom they will not promote. We think that this practice triggers career interdependence, where hiring un- promotable workers sometimes harms but in some cases helps the mobility chances of other employees. We…

The existence and stability of invariant distributions for stochastically monotone processes is studied. The Knaster-Tarski fixed point theorem is applied to establish existence of fixed points of mappings on compact sets of measures that are…

This paper considers single-item inventory systems with immediate delivery and no economies of scale. Bounds are provided on the value loss relative to optimal cost for restricting attention to the class of inventory stocking policies that…