Publications

This article analyzes the volume of trade in a multiperiod noisy rational expectations model. When traders receive private signals at the first trading date and are allowed a second round of trade, two type of equilibria exist. In the first,…

Building on previous research, this article proposes that choice behavior under preference uncertainty may be easier to explain by assuming that consumers select the alternative supported by the best reasons. This approach provides an explanation…

Discount dividend-reinvestment and stock-purchase plans allow shareholders to capture part of the underwriting fees incurred in new stock offerings and save sponsoring firms some of the usual underwriting costs. We tested the degree to which…

We quantify the information loss incurred by categorizing an unobserved continuous variable (X) into an ordered categorical scale (Z). The continuous variable is conceptualized as true score (τ) (which varies across individuals…

The earnings of married women have a more equalizing effect on the distribution of lifetime family earnings (or the expected present value of earnings) than on the distribution of annual family earnings, using PSID longitudinal data. The…

Factor Analysis is commonly used to reveal the structure underlying the multiple attributes that describe marketing stimuli. This paper provides a theoretical investigation and an empirical comparison of two approaches to Factor Analysis…

We describe the characteristics necessary for a plan for universal health insurance to find broad acceptance. Such a plan must represent incremental, not radical, change; must respect the preferences of voters, patients, and providers; must avoid…

his paper compares the information investors have about a firm’s future earnings, as reflected in its stock price, to that of the firm’s management, as reflected in its management earnings forecast. Stock returns in the pre-forecast and forecast…

Recent analyses of the nuclear arms race have emphasized the role of psychological processes in nations’ decisions to arm themselves. The present research was designed to investigate several hypotheses regarding the effects of two cognitive…

Literature on declining organizations focuses on two indicators of decreasing size—loss of financial resources and work force reduction. This effort to integrate the decline and size literatures combines psychological and sociological…

We investigate the reference effects of price and promotion on consumer choice behavior. Our model is based on the premise that consumers form expectations about the future marketing activity of a brand from their past exposure to such activity.…

Abstract not available.

Efficiency wage theorists explicitly recognize effort as a component of labor productivity. Where monitoring is costly or difficult, incentives to work are thought to be provided by higher than market clearing wages, unemployment, or both. Higher…

This paper updates and extends Green and Srinivasan’s (1978) review of conjoint analysis. In addition to a discussion of several new developments using the GS framework, we consider alternative approaches for measuring preference structures in…

In this paper, we study the effectiveness of cooperative advertising arrangements as a means to improve channel coordination. We analyze two types of cooperative advertising arrangements, lump sum payments and constant percentage payments, and…

The findings from a laboratory experiment supported three research propositions concerning the effects of processing goals at ad exposure and retrieval cues present during later recall of communication effects and ad and brand judgments. The…

Abstract not available.

The services provided by the liability side of banking are examined in an economy in which everyone is identical ex ante and banks are uninsured. Demand equity deposit claims are shown to provide all the service that can be provided by demand…