Publications

The authors argue that high self-monitors may be more sensitive to the status implications of social exchange and more effective in managing their exchange relations to elicit conferrals of status than low self-…

Each year, graduate students entering the academic job market worry that they will suffer due to uncontrollable macroeconomic risk. Given the importance of general human capital and the relative ease of publicly observing productivity in academia…

Firms in durable good product markets face incentives to intertemporally price discriminate, by setting high initial prices to sell to consumers with the highest willingness to pay, and cutting prices thereafter to appeal to those with lower…

Consumption of a good typically diminishes the marginal utility of consuming more, but for how long? This paper adapts a model of consumption capital to allow consumption to have a lasting effect that diminishes the marginal utility of future…

This research examines the temporal range of subliminal priming effects on complex behavior. In Experiments 1 and 2, participants were subliminally primed with words either related or unrelated to intelligence before completing a practice exam,…

How do public laws, treaties, Senate confirmations, and other legislative achievements help us to gain insight into how our governmental system performs?

This well-argued book edited by Scott Adler and John Lapinski is the first to assess…

This paper presents a positive theory of corporate social responsibility set in a managerial capitalism context in which managers instead of markets allocate resources, including social expenditures. The theory focuses jointly on the operational…

This article presents a conceptual framework that decomposes the overall acquisition integration process into four sequential and co-evolving processes: formulating the integration logic and performance goals; establishing the integration…

The 1964 Securities Acts Amendments extended the mandatory disclosure requirements that had applied to listed firms since 1934 to large firms traded Over-the-Counter (OTC). We find several pieces of evidence indicating that investors valued these…

This paper examines the European stock market reaction to key events predicted to affect the adoption of International Financial Reporting Standards (IFRS) in Europe, including adoption of the controversial standard on financial instruments, IAS…

This note revisits the identification theorems of B. Brown (1983) and Roehrig (1988). We describe an error in the proofs of the main identification theorems in these papers, and provide an important counterexample to the theorems on the…

We analyze the optimal trading and ownership policy of a large shareholder who must trade off diversification and monitoring incentives. Without commitment, the problem is similar to durable goods monopoly: the share price today depends on…

This review is not structured in the usual way - a departure from tradition that merits an explanation. Literature reviews generally have a linear, often chronological structure, with attention to ‘who was first?’ The tone is apparently objective…

In this study we propose that norms of fairness are salient to top decision makers and show that over- or underpayment of the CEO cascades down to lower organizational levels. Moreover, it appears that CEOs use their own power not only to…

Political economists interested in discerning the effects of election outcomes on the economy have been hampered by the problem that economic outcomes also influence elections. We sidestep these problems by analyzing movements in economic…

This paper considers two firms that engage in joint production. The prospect of repeated interaction introduces dynamics, in that actions that firms take today influence the costliness and effectiveness of actions in the future. Repeated…

The news media plays an essential role in society, but surveys indicate that the media is widely viewed as biased. This paper presents a theory of media bias that originates with private information obtained by journalists through their…

This article discusses pivots and provides an overview of pivot theories. It also develops and illustrates a new form of comparative institutional analysis, which would serve as a means for discriminating between such theories. This article shows…

This paper provides a theory of firm behavior motivated by moral duty, self-interest, and social pressure. A morally-managed and a self-interested firm compete in a market in which their corporate social performance (CSP) provides product…