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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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A Theory of Dual Labor Markets with Application to Industrial Policy, Discrimination and Keynesian Unemployment
This paper develops a model of dual labor markets based on employers’ need to motivate workers. In order to elicit effort from their workers, employers may find it optimal to pay more than the going wage. This changes fundamentally the…
Toward An Innovative Capabilities, Audit Framework
Abstract not available.
A Utility-Based Model of Common Stock Price Movements
This paper develops and tests a non-linear utility-based econometric model of the temporal behavior of aggregate stock price movements, based on a constant relative risk aversion utility function and an observable information set consisting of…
Why Do We Have Nominal Government Debt?
The time-consistency literature suggests that there is no reason to have anything but indexed debt. We show that nominal debt provides valuable insurance against the financial effects of economic fluctuations and variations in government…
Riding the Wave: The Culture Creation Process
Previous research portrays founders as culture creators, generating the visions and values that employees come to share. These studies seldom examine the diversity of employees reactions to founders, in part because data have been collected so…
An Economic Theory of Planned Obsolescence
Planned Obsolescence is the production of goods with uneconomically short useful lives so that customers will have to make repeat purchases. However rational customers will pay for only the present value of the future services of a product.…
An Investigation of the Relationship Between Work and Family Size Decisions Over Time
Contrary to earlier work which tended to find that wife’s labor force participation and family size are negatively and causally related, t h e present study finds that the variables are spuriously correlated. More specifically, labor force…
Breaking Up the Mono-Method Monopolies in Organizational Research
Recent discussions of methodology have been dominated by two arguments: that one methodology is generally better than another or that one methodology is better than another for the purpose of addressing a particular theoretical issue. Qualitative…
Collusion Via Switching Costs: How "Frequent -Flyer" Programs, Trading Stamps, and Technology Choices Aid Collusion
Competing brands that are ex ante homogeneous may become, after the purchase of one of them, ex post heterogeneous. The switching costs that differentiate these functionally identical products may be learning costs, transaction costs, or “…
Competitive Equilibria in General Choice Spaces
This paper primarily demonstrates the existence of Arrow-Debreu equilibria in a general class of topological vector spaces of commodity bundles. Two conditions based on production possibilities, preferences, and the topological nature of bounded…
Conjoint Calibration of the Customer/Competitor Interface in Industrial Markets
Abstract not available.
Consumption, Production, Inflation and Interest Rates: A Synthesis
This paper uses discrete-time and continuous-time models to derive equilibrium relations among real and nominal interest rates and the expected growth, variance and covariance parameters of optimally chosen paths for aggregate real consumption…
Corporate Acquisitions: A Process Perspective
Historically, acquisition scholars and practitioners have adopted a choice perspective which portrays the corporate executive analyzing acquisition opportunities as a rational decision-maker. This paper suggests that the choice perspective be…
Designs for Corporate Entrepreneurship in Established Firms
The paper presents a model which identifies entrepreneurial activity as a natural and integral part of the strategic process in large, established firms. A conceptual framework is proposed to help top management assess entrepreneurial business…
Dissolving a Partnership Efficiently
Several partners jointly own an asset that may be traded among them. Each partner has a valuation for the asset; the valuations are known privately and drawn independently from a common probability distribution. We characterize the set of all…
A Dynamic Product Line Model: Theory, Evidence, Strategy
In contemporary marketing research product line interdependencies are largely ignored, though substantial empirical evidence exists that these phenomena are of considerable practical relevance. In the present paper it is argued that experiences…
Earnings Releases, Anomalies and the Behavior of Security Returns
A common finding in the literature is that systematic post-announcement drifts in security returns are associated with the sign or magnitude of unexpected earnings changes. This paper examines proposed explanations for these drifts. The paper…
Expectancy-Value Attitude Models: An Analysis of Critical Measurement Issues
Criteria for scaling beliefs and evaluations in the Fishbein model are considered, and a procedure is developed and illustrated for the proper test of multiplicative models. Hierarchical regression is shown to be a valid method for testing…