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SSRN Research Paper Series
The Social Science Research Network’s Research Paper Series includes working papers produced by Stanford GSB the Rock Center.
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Permanent Income, Liquidity, and Expenditure on Automobiles: Evidence from Panel Data
Several recent papers have tested the permanent income-cum- rational expectations hypothesis using data on nondurable or semi- durable consumption. We show how this approach can be extended to the case of durables. An application to panel data on…
Rational Learning and Rational Expectations
A general formulation of a rational (Bayesian) learning model with rational expectations is given. The martingale convergence theorem is used to prove that in any rational learning model, each agents posterior assessments converge as time passes…
Supplier Switching Costs and Vertical Integration in the Automobile Industry
This paper tests a transactions cost theory of vertical integration using data from the U.S. automobile industry. Existing theory is first refined to take industrial know-how and its cost of transfer into account. A testable model is then…
The Market for Knowhow and the Efficient International Transfer of Technology
This paper explores the nature of international technology transfer and the operation of the market for knowhow. It begins by examining the relationship between codification and transfer costs, and then moves on to analyze various imperfections…
The Sources of Labor Productivity Variation in U.S. Manufacturing, 1947-80
Because it concentrates on the co-movements of jointly determined endogenous variables, the traditional analysis of labor productivity does not directly address the question of the causes of productivity change. This problem is solved by a…
Vertical Integration and Risk Reduction
Abstract not available.
Analysis of Pension Funding Under Erisa
This paper begins by describing the tax, funding, and insurance aspects of the Pension Reform Act of 1974. Next, the implications of those laws are analyzed from the standpoint of the funding decision of the firm. The tax advantage of early…
Appropriable Rents and Quasi Integration
Abstract not available.
A Behavioral Analysis Of OPEC: Monopolization With Limited Collusion
Abstract not available.
Internal Organization and Economic Performance: An Empirical Analysis of the Profitability of Principal Firms
Abstract not available.
On The Chain-Store Paradox and Predation: Reputation for Toughness
Abstract not available.
The New Social Regulation: Implications And Alternatives
Abstract not available.
A Behavioral Analysis Of The Opec Cartel: Structure, Mechanisms Of Monopolization, And Alternative Model Paradigms
Abstract not available.
European Economic And Political Integration: The Markets And Hierarchies Approach
Abstract not available.
Futures Trading, Rational Expectations and the Efficient Markets Hypothesis
This paper analyzes a model of a futures market in which both pure speculators and producers participate. Traders form rational expectations about the return on holding futures (the spot price) on the basis of diverse private information and the…
Technology Choices in Developing Countries: Toward a Conceptual Framework for Further Research
Abstract not available.