These papers are working drafts of research which often appear in final form in academic journals. The published versions may differ from the working versions provided here.
SSRN Research Paper Series
The Social Science Research Network’s Research Paper Series includes working papers produced by Stanford GSB the Rock Center.
You may search for authors and topics and download copies of the work there.
Commitment in Multiperiod Information Models
The role of commitment is studied in the context of a multiperiod contracting model in which a supplier has private information about his costs. When the purchaser is able to make commitments for the duration of the relationship, a separating…
Common Knowledge with Probability 1
Two people, 1 and 2, are said to have common knowledge of an event if both know it, 1 knows that 2 knows it, 2 knows that 1 knows it, 1 knows that 2 knows that 1 knows it, and so on. We provide a Bayesian definition of common knowledge, that is,…
Conjoint Analysis Reliability: Empirical Findings
This paper looks at the comparative reliability of different methodological variants of the conjoint analysis procedure. It differs from previous studies in that it looks at three methods of data collection (Full Profile, Trade-Off Matrices and…
Conjoint Analysis Reliability and Validity: A Framework for Future Research
This paper argues that despite the considerable number of published studies it is impossible to draw generalizable findings about the reliability and validity of conjoint analysis. To prevent this from happening in the future, this paper…
A Conjunctive-Compensatory Approach to the Self-Explication of Multiattributed Preferences
Protocol analyses of consumers’ choices among multiattributed products reveal that a two-stage model may be closer to the true process than the single-stage compensatory model implicit in traditional conjoint analysis. A conjunctive stage in…
Deterrence and Security in a Dangerous World: How Much is Enough?
Ever since the appearance of Bernard Brodie‘s (1959) Strategy in the Missile Age, the fundamental conceptions which have dominated and shaped U.S. theory and policy regarding the utility of strategic weapons have been derived from the theory…
Excess Capacity, Entry, and Market Structure in the Chemical Processing Industries
Recent advances in oligolpoly theory suggest a number of reasons why excess capacity may be related to entry and market structure. This paper used commprehensive data on 40 chemical products to test a series of hypotheses on the determinants of…
Expectancy-Value Models of Attitude: A Test of Three Alternatives
Based on a theory of cognitive structure, a conditional probability model of expectancyvalue attitudes was compared to two traditional operationalizations using moral (i.e., good bad) and affective (1.e., pleasant unpleasant) evaluations,…
Global Competition and Exchange Rate Exposure
In recent years international trade and international factors such as foreign currency exchange rates have grown in importance in firm-level decisions. The purpose of this paper is to analyze the primary economic factors which determine the way…
Hierarchies of Beliefs and Common Knowledge
A type of an individual is an infinite hierarchy of beliefs—over some state space S, over other individuals’ beliefs over S, and so on. We show that a coherent type determines a belief over S and other individuals’ types, and that common…
Information in Financial Markets: The Rational Expectations Approach
Abstract not available.
Market Growth, Economies of Scale, and Capacity Expansion in the Chemical Processing Industries
What factors determine the size of new industrial plants? This study uses data on 23 chemical products to test alternative models of capacity expansion, including: (1) the Manne model, which yields a constant cycle time between plant construction…
A Model of Balanced Choice Behavior
In some product categories, consumers appear to alternate among items in a consistent and purposeful, though not entirely deterministic, fashion. Such alternation occurs even in the absence of any apparent external influence on choice. We…
Modeling Competitive Infringement on Brand Name
When a brand promotes or cuts its price, the competitive effects on other brands within the product category may differ widely in magnitude. However, many brand choice models are not equipped to deal with differential or asymmetric competitive…
Modeling Organizational Slack: An Empirical Investigation
Organizational slack is a variable frequently used in organization studies to predict such organizational processes as search behavior, innovation, goal conflict, political behavior, and risk taking. However, it has remained a fairly ambiguous…
A Monopolistic Market for Information
We analyze a model where traders buy information from a monopolistic seller, which is subsequently used in a speculative market. In order to overcome the dilution in the value of information due to its leakage through informative prices, the…
Multiperiod Security Markets With Differential Information: Martingales and Resolution Times
Abstract not available.
Mutual Fund Performance Evaluation: A Comparison of Benchmarks and Benchmark Comparisons
Abstract not available.
On the Distributional Conditions for A Consumption Oriented Three Moment CAPM
In this paper we develop sufficient conditions on probability distributions for a three moment (mean, variance, skewness) consumption oriented capital asset pricing model (CAPM) to price correctly a subset of assets. The assumptions that…
On the Measurement of Operating Exposure to Exchange Rates: A Conceptual Approach
Abstract not available.