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Social group identity and the emergence of cooperation in resource conservation dilemmas
Some Observations on Capital Structure and the Impact of Recent Recapitalization on Share Prices
Abstract not available.
Standardization and Variety
Stochastic Production-Exchange Equilibria
This paper examines the role of production and stock markets in a continuous-time stochastic economy. The results include sufficient conditions for the existence of general equilibria: spot price processes and security price processes under which…
Strategic Capability Transfer in Acquisition Integration
This paper presents a grounded theory of the acquisition integration process. The theory proposes that the central element in successful acquisition integration is the transfer of strategic capabilities between firms. A series of interactions…
Strategic Delay in Bargaining
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…
Structural Consistency, Consistency and Sequential Rationality
Abstract not available.
Taking the Workers Back Out: Recent Trends in the Structuring of Employment
Abstract not available.
Taxation and the Dynamics of Corporate Control: The Uncertain Case for Tax Motivated Acquisitions
We develop an analytic framework to examine the familiar claim that the tax system favors corporate acquisitions. The framework is then applied to the three most commonly identified sources of tax gains from acquisitions: the change in asset…
A Test of the Efficiency of a Given Portfolio
A test for the ex ante efficiency of a given portfolio of assets is developed. The relevant statistic has a tractable small sample distribution. Its power function is derived and used to study the sensitivity of the test to the portfolio choice…
The Cyclical Component of United States Economic Activity
Abstract not available.
The Gorbachev Era
Who runs the Soviet Union and how? What will change under Gorbachev? What is life like in the USSR today? What forces shaped modern Russia? How is the Soviet economy organized? What are its flaws? And what are Gorbachev’s prospects for correcting…
The Interrelations of Finance and Economics: Empirical Perspectives
Abstract not available.
The Old and New Export Pessimism: A Critical Survey
Rather ironically, the very success of the East Asian NICS (Newly Industrializing Countries) has evoked a new export pessimism. This paper sorts out the arguments underlying this pessimism and evaluates their credibility. The discussion moves…
The Present-Minded Professor: Controlling One's Career
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The Role of Obsolescence and Inventory Costs in Providing Commitment
The Tolerance of Injustice
No additional information is available at this time.
Transactions Cost and Portfolio Choice in a Discrete-Continuous Time Setting
This paper makes two modest observations concerning a new formulation of the consumption and portfolio choice model of Merton (1971), with transactions costs. Suppose the agent observes his or her current wealth only when making a transaction,…
Viable Allocations of Information in Financial Markets
This paper studies, 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…