Publications

This paper analyzes a bargaining model with incomplete information in which the time between offers is an endogenous strategic variable. We find equilibria involving a delay to agreement that is due to the use of strategic time delay by…

Based on grounded theorizing efforts, this paper presents a preliminary conceptual framework of strategy-making as a social learning process. The juxtaposition of archival and interview data concerning three internal corporate venturing projects…

When testing portfolio efficiency, empiricists usually perform tests using subperiods and aggregate the results in some manner. While the power of individual subperiod tests has been studied previously, little is known about the power of the…

A capacity expansion problem is one of choosing the timing, location, and sizing of productive capacity to respond to demand forecasts at minimum cost. Capacity expansion models for realistic problems tend to be too large for present methods that…

We provide conditions on the primitives of a continuous-time economy under which there exist equilibria obeying the Intertemporal Consumption-Based Capital Asset Pricing Model (ICCAPM). We do not use a Markovian state assumption.

The authors examine the nature of dynamic consumer response to promotional price discounts. The approach begins with the promise that consumers form expectations about future price discounting based on their exposure to such activity at the point…

This paper introduces some methods for anticipating the difference between optimal harvesting strategies in a fishery model with stochastic recruitment and for the analogous deterministic model with recruitment equal to its expected value. The…

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In a recent article Gary Jacobson concludes that “House incumbents are no safer now than they were in a the 1950s; the marginals, properly defined, have not vanished; the swing ratio has diminished little, if at all; and competition for House…

Abstract not available.

We show that the seller’s problem in devising an optimal auction is virtually identical to the monopolist’s problem in third degree price discrimination. More generally, many of the important results and elegant techniques developed in the field…

Interview, archival, and observational data from four computer firms were used to develop a theory about how Chapter 11 of the Federal Bankruptcy Code spoils the image of top managers and firms. We propose that Chapter 11 is a discrediting label…

Abstract not available.

We study, in the context of a financial market, allocations of information that are consistent with endogenous information acquisition. We focus on whether information is concentrated within a fraction of the market or is diffuse. The aggregation…

A number of recent analyses of the nuclear arms race have emphasized the role that psychological processes play in nations’ decisions to arm themselves. The present research was designed to investigate several hypotheses regarding how to…

A good is often more valuable to any user, the more others use compatible goods. We show that this effects may inhibit innovation. If an installed base exists and transitions to a new standard must be gradual, early adopters bear a…

The term structure relations implied by a model in which preferences are non-separable functions of the service flows from two goods are investigated. The parameters characterizing preferences are estimated and restrictions on the co-…