Working Papers

This paper explores information disclosure in matching markets, e.g., the informativeness of transcripts given out by universities. We show that the same, benchmark, amount of information is disclosed in essentially all equilibria. We then…

We examine whether application of International Accounting Standards is associated with higher accounting quality. The application of IAS reflects the combined effects of features of the financial reporting system, including standards, their…

Combining longitudinal field research and executive experience, we propose that corporate longevity depends on matching cycles of autonomous and induced strategy processes to different forms of strategic dynamics, and that the role of alert…

We propose an approximation method for analyzing Ericson and Pakes (1995)-style dynamic models of imperfect competition. We develop a simple algorithm for computing an oblivious equilibrium, in which each firm is assumed to make decisions based…

We define a refinement of Nash equilibria called metastability. This refinement supposes that the given game might be embedded within any global game that leaves its local best reply correspondence unaffected. A selected set of equilibria is…

How does contention over authenticity unfold through social movement processes of mobilization and counter-mobilization? We address this issue by studying how the rise of modern winemaking practices embodied authenticity as creativity, how the…

We examine Hillas and Kohlberg’s conjecture that invariance to the addition of payoff-redundant strategies implies that a backward induction outcome survives deletion of strategies that are inferior replies to all equilibria with the same outcome…

This paper presents a dynamic model of election, government formation, and legislation in a parliamentary democracy with proportional representation in which the policy chosen in one period becomes the status quo for the next period. The…

This article characterizes a supply function equilibrium in an auction market constrained by limited capacities of links in a transportation network and limited input/output capacities of participants. The formulation is adapted to a wholesale…

The purpose of this study is to investigate the relationship between technological capabilities and firm performance. We divide technological capabilities into two types refinement capability, which involves the improvement of the existing asset…

We examine whether a large shareholder can alleviate conflicts of interest between managers and shareholders through the credible threat of exit on the basis of private information. In our model the threat of exit often reduces agency costs, but…

We compare the two most common bidding processes for selling a company or other asset when participation is costly to buyers. In an auction all entry decisions are made prior to any bidding. In a sequential bidding process earlier entrants can…

There is a growing consensus that preferences are inherently constructive and largely determined by the task characteristics, the choice context, and the description of options. Although the fact that construction influences often play an…

We examine whether the properties of bond ratings from certified agencies (designated by the SEC) differ from those of non-certified bond rating agencies. Bond ratings from non-certified agencies are used solely for investment advice. Certified…

The television game show The Price Is Right is used as a laboratory to test consistency of suboptimal behavior in an environment with substantial economic incentives. On the show, contestants compete sequentially in two closely related games. We…

The French Opposition to the war in Iraq in early 2003, prompted calls for a boycott of French wine in the US. We measure the magnitude of consumers’ participation in the boycott, and look at basic evidence of who participates. Conservative…

We quantify the impact of social interactions and peer effects in the context of prescription choices by physicians. Using detailed individual-level prescription data, along with self-reported social network information, we document that…

The paper pulls together streams of culture-related research found in information processing and behavioral decision theory literatures, and complements them with a focus on motivations and goals. We propose a framework that suggests that (a)…

Can the type of polling place in which people vote (e.g. church, school, or firehouse) influence how they cast their ballot? Results of two studies suggest it can. A field study using Arizona‘s 2000 general election found that voters were more…

This paper presents a method to forecast the sales path of an improved version of a high technology product defined in terms of its price path and multiattribute product specification. The approach is potentially useful to managers to answer what…