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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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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…
A Spatial Bargaining Theory of Government Formation in Parliamentary Systems
Abstract not available.
Stationary Markov Equilibria
We establish conditions under which there are equilbria (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.
Theoretical Issues Concerning the History of International Trade and Economic Development
Abstract not available.
Trade Policy, Development, and the New Political Economy
This paper considers some political economy aspects of trade policy in the less developed countries—more than 30 years on. A more literary title might be “Ideas, Ideology, and Interests.” Writing in the 1950’s Meier and Baldwin [1957], as still…
Trade and the Revelation of Information through Prices and Direct Disclosure
This paper analyzes the volume of trade in a multiperiod noisy rational expectations model. When traders receive private signals at the first trading date and are allowed a second round of trade, two types of equilibria exist. In the first,…
Understanding the Japanese as Customers, Competitors, and Collaborators
Abstract not available.
Wage Effects of Externalized Work: The Case of Temporary and Part-time Employees
Although there has been substantial growth in the proportion of temporary and part-time workers, there has been little research on the consequences of the form of labor contracting. Using the May 1985 version of the Current Population Survey to…
What Makes Markets Efficient? Some Answers from the Laboratory
This study uses laboratory markets to determine how different types of information or different market structures influence a markets informational efficiency. Unlike secondary data studies of market efficiency, in a laboratory the efficiency of…
When the Going Gets Tough: The Effects of Resource Scarcity on Group Conflict and Cooperation
Abstract not available.
Externally Espoused Values and the Legitimation of Financial Performance
Organizations devote significant resources to the process of external legitimation of their activities. This paper focuses on a particular aspect of this process, espoused values. We begin by drawing on the organizational culture literature to…
Are the Latent Variables in Time-Varying Expected Returns Compensation for Consumption Risk?
Multibeta asset pricing models are examined in a framework which exploits time-varying, conditional expected returns to estimate conditional betas. Examples include multiple-consumption-beta moels and models where common stock “size portfolios”…
Arrow and General Equilibrium Theory
This is a review of the Collected Papers of Kenneth J. Arrow, Volume 2: General Equilibrium. The review focuses on Arrow’s contribution in three areas: the existence of equilibrium, the relationship between equilibria and Pareto optimality, and…
Bargaining Costs, Influence Costs and the Organization of Economic Activity
Abstract not available.
Business, Strategy, Market Structure, and Risk Return Relationships: A Casual Interpretation
The present paper analyzes four questions both theoretically and empircally: 1) how are risk and return outcomes at the business-unit level related to each other?; 2) how does market share influence risk-return outcomes?; 3) to what extent is the…
Changes in Expected Security Returns, Risk, and the Level of Interest Rates
Regressions of security returns on treasury bill rates implicitly indicate the behavior of conditional covariances with benchmark pricing variables. The information in one-month rates is sufficient to detect variation in the covariances for…