Publications

This paper considers the possibility that certain traders in a financial market preannounce the size of their order prior to trading, a practice that has come to be known as “sunshine trading.” Assuming that preannouncement is made by some of the…

Three studies examined the hypothesis that when perceivers learn of the existence of multiple, plausibly rival motives for an actor’s behavior, they are less likely to fall prey to the correspondence bias than when they learn of the existence of…

Hypothesized that later occurrences in a series of events tend to evoke counterfactual alternatives more strongly and, hence, tend to be blamed more for ensuing negative outcomes than do earlier occurrences. In Study 1, Ss played the role of…

The thesis of this article is that reactions to misfortunes are often biased by the counterfactual fallacy: the tendency to view events that can easily be imagined otherwise as events that ought not to have been. Drawing upon a diverse set of…

Manufacturing is undergoing a revolution. The mass production model is being replaced by a vision of a flexible multiproduct firm that emphasizes quality and speedy response to market conditions while utilizing technologically advanced equipment…

A laboratory experiment examines factors affecting evaluations of proposed extensions varying in similarity from a core brand that has or has not already been extended into other product categories. Specifically, the perceived quality of the core…

We establish conditions under which cooperation will evolve in conflict situations modelled as tournaments of iterated Prisoner’s Dilemma games. Though no strategies that are less than half of the population turn out to be stable even in the…

The experiment reported here concerns an evaluator’s judgment of the quality of another person’s performance level subsequent to that performer’s own self-evaluative remarks. Specifically, we explore the attributional consequences of biased…

This paper investigates organizational mortality in the early American telephone industry, in which thousands of companies proliferated and failed under conditions of technological change. Drawing on the theory of community ecology, it is…

This is an overview of general equilibrium theory with financial markets,emphasizing the theory of valuation of securities.

Abstract not available.

This paper develops a model of vintage human capital in which each technology requires vintage specific skills. A stationary competitive equilibrium is defined, shown to exist, and be Pareto optimal. The stationary equilibrium is characterized…

In the last decade, there has been a resurgence of interest in problems of cooperation, stimulated largely by Axelrod’s work. Using an innovative tournament approach, Axelrod found that a simple strategy, Tit-for-Tat (TFT), was most successful in…