Working Papers

For three years after the typical developing country opens its stock market to inflows of foreign capital, the average annual growth rate of the real wage in the manufacturing sector increases by a factor of seven. No such increase occurs in a…

From a variant of Kuhn’s triangulation we derive a discrete version of the Global Newton Method that yields an epsilon-equilibrium of an N-player game and then sequentially reduces epsilon toward zero to obtain any desired precision or the best…

We provide evidence that firms with more transparent earnings enjoy a lower cost of capital. We develop an earnings transparency measure that captures cross-sectional and intertemporal variation in the extent to which earnings and change in…

We present the strategy diamond, which extends received strategic management theory by integrating the positional view and the resource-based view, the formulation and implementation of strategy, and the firms internal selection environment into…

A player’s pure strategy is called relevant for an outcome of a game in extensive form with perfect recall if there exists a weakly sequential equilibrium with that outcome for which the strategy is an optimal reply at every information set it…

A product often has many attributes. The seller of the product may choose whether to disclose these attributes to consumers before their purchase. How do multiple attributes of the product jointly determine the sellers disclosure incentives? I…

Recent research shows that hourly payment affects decisions about time use in ways that disfavor uncompensated activities such as volunteering. This paper extends that argument by showing that the activation of money and economics as aspects of a…

The Global Newton Method for games in normal form and in extensive form is shown to have a natural extension to computing Markov-perfect equilibria of stochastic games.

Three experiments demonstrated that the experience of power leads to an illusion of personal control. Regardless of whether power was experientially primed (Experiments 1 and 3) or manipulated through manager-subordinate roles (Experiment 2), it…

Recent work emphasizes the primacy of differences in countries colonially-bequeathed property rights and legal systems for explaining differences in their subsequent economic development. Barbados and Jamaica provide a striking counter example to…

This research aims to provide insights into the determinants of channel profitability and the relative power in the channel by considering consumer demand and the interactions between manufacturers and retailers in an equilibrium model. We use…

We study how tape drive producers respond to the almost continuous emergence of new drive formats across the technology’s history. The analysis characterizes the technological formats of tape drives according to their degree of contrast (…

In two longitudinal experiments, conducted both in the field and lab, we investigated the recollection of mixed emotions. Results demonstrated that the intensity of mixed emotions is generally underestimated at the time of recallan effect that…

Based on longitudinal research of Intel’s strategic evolution and grounded theorizing efforts, I examine the strategic consequences of the substantive concept of coevolutionary lock-in in light of a model of organizational strategy-making that…

This paper investigates the extent to which the economic challenges faced by symphony orchestras in the United States reflect collectively bargained wage increases and work rules. Since the late 1960s, collective bargaining agreements have…

We consider a cross-calibration test of predictions by multiple potential experts in a stochastic environment. This test checks whether each expert is calibrated conditional on the predictions made by other experts. We show that this test is good…

This research examines how a focus on time versus money can lead to two distinct mindsets that impact consumers’ willingness to donate to charitable causes. The results of three experiments, conducted both in the lab and in the field, reveal that…

Sociologists and other social scientists have long recognized that certain economic transactions involve more than a simple trade of goods or services for money. A long-standing theme in economic anthropology and sociology emphasizes the symbolic…

What types of products are preferred when the purchase is immediate versus off in the distant future? Three experiments address this question by examining the influence of temporal perspective on evaluations of regulatory-framed products. The…

This paper analyses the incentives that shaped Hindu and Muslim interaction in India’s towns from the rise of Islam to the rise of European intervention in the 17th century; it argues that differences in the degree to which medieval Hindus and…