Working Papers

In this paper, we attempt to incorporate social status and regional affiliation — two variables of central sociological interest — into an economic analysis. We build on Scott Morton’s (1997) examination of entry and predation in the merchant…

Retailers are frequently uncertain about the underlying demand distribution of a new product. When taking the empirical Bayesian approach of Scarf (1959), they simultaneously stock the product over time and learn about the distribution. Assuming…

This paper explores the social processes that underlie conformity with legitimate systems of classification. I address two weaknesses in research on such isomorphism: a failure to demonstrate that deviation from accepted practice generates…

The objective of this research is to assess the cross-cultural generalizeabilit of persuasion effects predicted by dual process models. In two experiments, the impact of motivation, congruity of persuasive communication and the diagnosticity of…

Considerable research in consumer experimental psychology has examined the self-expressive role of brands, but has found little support for the premise that the interaction of the personality traits associated with a brand and those associated…

Institutional investors, who now own a significant protion of equity in U.S. firms, are often described as transient and myopic owners with no incentives to involve themselves in governance. We examine the validity of this assertion by examining…

We usually assume increases in supply, allocation by rationing, and exclusion of potential buyers will never raise prices. But all of these activities raise the expected price in an important set of cases when common-value assets are sold.…

Empirically it appears that while investing heavily in internal R&D, established corporations are playing only a relatively minor role in the financing of entrepreneurial companies, even if there seem to be ‘strategic’ reasons that would…

When organizations make important changes, such as introducing new products, they may gain strategic advantage but they also experience disruptions. We argue that these disruptions are especially strong when organizations introduce multiple…

This paper examines the effect of investment banks’ underwriting relationships on the earnings forecasts and recommendations of their financial analysts.

In this paper we explore an additional reason for the exodus and the persistence of gender inequality in organizations. This paper’s focus on high ranking executive women allow us to separate the effects of formal power and gender. These women…

This paper examines recent evidence on the characteristics and pricing of debt securities underwritten by Section 20 subsidiaries (referred to as banks) of U.S. commercial bank holding companies compared to those underwritten by investment…

In this paper we study the role of the store brand in building store loyalty. Through a game theoretic approach we show how the store brand can create store differentiation leading to superior profits for the retailers. More specifically, we show…

We analyze pricing strategies for digital information goods, such as those increasingly available via the Internet. Because perfect copies such goods can be created and distributed almost costlessly, any single positive price for copies is…

Recent progress in data processing technology has made the accumulation and systematic organization of large volumes of data a routine activity. As a result of these developments, there is an increasing need for data-based or data-driven methods…

This research examines how a market incumbent’s competitive reputation with a potential entrant can deter market entry in the context of multimarket competition. The authors use a judgment experiment to examine this relationship. In a setting…

When commercial banks both lend to, and underwrite securities for a firm, does this result in higher or lower prices for the underwritten securities, compared to investment houses’ underwritings? Investment houses have an incentive to…

Abstract not available.

This paper we examine theoretically the use of benchmark portfolios in the compensation of privately informed portfolio managers. We find that the use of a benchmark, and particularly the types of benchmarks often used benchmark-adjusted…