Publications

For an all-pay sealed-bid auction of an item for which each bidder’s realized value can depend on every bidder’s privately observed signal, existence of equilibria in behavioral strategies is established using only the assumption that bidders’…

For two symmetric bidders, weak monotonicity conditions are shown to imply existence of an equilibrium in mixed behavioral strategies for a sealed-bid first-price auction of an item for which each bidder’s value depends on every bidder’s observed…

A first-price sealed-bid auction of an item for which bidders are risk-neutral and have privately known values is shown to have an equilibrium in mixed behavioral strategies if the joint distribution of bidders’ values has a continuous density on…

Two single-product firms with different quality levels and fixed limited capacities engage in sequential price competition in an essentially deterministic model where customers have heterogeneous valuations for both products. We develop…

Increased liking of one’s choice following difficult decisions (e.g., choosing between similarly attractive options) is well documented. Given the common mechanism proposed for this effect—a highly involving dissonance reduction process—it would…

This Article examines whether the cost of complying with the Sarbanes-Oxley Act of 2002 (SOX) contributed to the rise in going-private transactions after its enactment. Prior studies of this issue generally suffer from a mistaken assumption that…

The financial crisis that began in 2007 is especially a crisis in debt markets. A full understanding of what happened in the financial crisis requires investigation into the plumbing of debt markets. During a financial crisis, when funds often…

Research has confirmed that leader behavior influences group and organizational behavior, but we know less about how senior leaders ensure that group and organizational members implement their decisions. Most organizations have multiple layers of…

Although a substantial amount of research has examined the link between money and happiness, far less has examined the link between time and happiness. This paper argues, however, that time plays a critical role in understanding happiness, and it…

Conventional wisdom concerning the causes of the Financial Crisis posits that insufficient disclosure concerning firms’ exposure to complex credit derivatives played a key role in creating the uncertainty that plagued the financial sector in the…

Marketing researchers have used models of consumer demand to forecast future sales; to describe and test theories of consumer behavior; and to measure the response to marketing interventions. The basic framework typically starts from…

We introduce a model in which firms trade goods via bilateral contracts which specify a buyer, a seller, and the terms of the exchange. This setting subsumes (many-to-many) matching with contracts, as well as supply chain matching. When firms…

Self-regulation is the private provision of public goods and private redistribution. This paper examines the scope of self-regulation motivated by altruistic moral preferences that are reciprocal and stronger the closer are citizens in a…

In some organizational applications, the principle of allocation (PoA) and scale advantage (SA) oppose each other. While PoA implies that organizations with wide niches get punished, SA holds that large organizations gain an advantage because of…