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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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Evaluating The Effects Of Retail Promotions In Segmented Markets
Retail promotional activities such as temporary price cuts, coupons and newspaper features produce multiple effects: increases in market share for the promoted brand, increased switching to the promoting store, and increases in category volume.…
Exit from Declining Industries: "Shakeout" or "Stakeout"
Data on thirty declining chemical products are used to test theories of exit. The results offer support for two different models. The first model predicts that small firms would be most likely to exit. The second model predicts that large…
Firm-Level Productivity and Management Influence: A Comparison of U.S. and Japanese Automobile Producers
This study compares the productivity of six major U.S. and Japanese motor vehicle manufacturers-General Motors, Ford, Chrysler, Toyota, Nissan and Mazda-from the early 1950’s through 1987. Techniques of productivity measurement, conventionally…
How Much is Enough? Psychological Aspects of "Guns Versus Butter" Decisions in a Simulated Security Dilemma
The present research investigated the role of cognitive processes in decisions regarding how much to spend on security, using a laboratory simulation of a security dilemma. Two experiments are described. The first experiment examined how…
Intertemporal Arbitrage and the Markov Valuation of Securities
This paper explores the intertemporal nature of arbitrage and its connection to Markov processes. We suppose that an economy is in one of a fixed set (symbol insert) of possible states at each date. Assuming that prices and dividends are…
Liberalization in the Japanese Financial Markets
Abstract not available.
Majoritarian Incentives, Pork Barrel Programs, and Procedural Control
Abstract not available.
Memory And Evaluation Effects In Competitive Advertising Environments
A laboratory experiment examined the effects of quantitative (i.e., number) and qualitative (i.e., valence) dimensions of competitive advertising on consumer memory and evaluations. Print ads were developed to elicit predominately either a…
Myopic Replenishment Policies for Inventory Models with History-Dependent Demand Distributions
This paper considers single-item, periodic review inventory systems with linear procurement, holding and shortage costs, and immediate delivery. Immediate stock disposal with a linear disposal fee may or may not be an option. The demand in each…
Optimality of Debt Contracts for Financial Intermediaries
We first prove that the debt contract is the optimal contract between entrepreneurs and arbitrary financial intermediaries in a model where the bank faces an endogenous bankruptcy penalty (as in Diamond (1984)) - the optimality for depositors has…
Post-Entry Pricing and Vertical Integration in the Chemical Process Industries
This paper examines the magnitude of price changes following entry into markets for 30 undifferentiated chemical products. On average, prices fell by about 6% in years when entry occurred. Price cuts were roughly twice as deep when the entrant…
Public Signals and the Equilibrium Allocation of Private Information
Abstract not available.
Simulated Moments Estimation of Markov Models of Asset Prices
This paper provides a simulated moments estimator (SME) of the parameters of dynamic models in which the state vector follows a time-homogeneous Markov process. Conditions are provided for both weak and strong consistency as well as asymptotic…
A Spatial Bargaining Theory of Government Formation in Parliamentary Systems
Abstract not available.
Stationary Markov Equilibria
We establish conditions under which there are equilibria (in various settings) described by ergodic Markov processes with a Borel state space S. Let P(S) denote the probability measures on S, and let s - G(s) C:P(S) be a (possibly empty-valued)…
Strategic Flexibility for High Technology Maneuvers: A Conceptual Framework
Strategic flexibility is proposed as an expedient capability for managing capricious settings, such as those confronted in technology-intensive arenas. This paper examines the historical evolution of the concept of flexibility and analyzes…
The More the Merrier? Social Psychological Aspects of Multi-Party Negotiations in Organizations
Abstract not available.