Publications

We document extreme bias and dispersion in the small sample distributions of five standard regression tests of the expectations hypothesis of the term structure of interest rates. These biases, derive from the extreme persistence in short…

Abstract not available.

Pluralistic ignorance begins with a discrepancy between public actions and private sentiments, typically produced by widespread behavioral adherence to a social norm. Pluralistic ignorance is a pervasive feature of social life and is found to…

The dominant approach to the study of dynamic preference is to generate preference change by manipulating aspects of decision-problem presentation (problem description, task procedure, contextual options). The predisposing approach instead holds…

In this paper we take an integrated view of Transaction Cost Analysis and Agency Theory to study the direct vs rep decision and the design of compensation plans in German salesforces. While we attempt to investigate the generalizability of the…

We present and test an explanation for lags in the adjustment of wholesale gasoline prices to changes in crude oil prices. Our simple model with costly adjustment of production and inventories implies that output prices will respond with a lag to…

This study examines several contrasts and similarities between Korean and US executive approaches to certain aspects of strategic alliances. The underlying research premise is that better understanding of the typical similarities and differences…

The chapter suggests that in high-technology companies the processes involved in strategic business exit and corporate transformation are driven by the evolving links of technology strategy, and substantive and generic corporate strategies.…

This research compares two different approaches to identifying strategic groups, a cognitive approach, which reflects the perceptions of managers competing in the industry, an an objective approach, which reflects objective product-market…

This paper studies a dynamic model of a financial market with N strategic agents. Agents receive random stock endowments at each period and trade to share dividend risk. Endowments are the only private information in the model. We find that…

This paper studies a dynamic, stationary model of a financial market with a large trader and small noise trader. At each period the large trader receives a privately observed stock endowment, and trades with competitive market-makers in order to…

Every Day Low Pricing can co-exist with a Promotional Strategy as a positioning strategy.

In this paper we develop an empirical model of exchange rates in a target zone. The model is general enough to nest most theoretical and empirical models in the existing literature. We find evidence of two types of jumps in exchange rates.…

This study investigates coefficient bias and heteroscedasticity resulting from scale differences in accounting levels-based research designs analytically and using simulations based on accounting data. Findings indicate that including a scale…

We generalize the War of Attrition model to allow for N + K firms competing for N prizes. Two special cases are of particular interest. First, if firms continue to pay their full costs after dropping out (as in standard-setting context), each…

In response to the needs of lecturers, the acclaimed Handbook of Organization Studies has been made available as two major paperback textbooks. In this, the first of a two-volume paperback edition of the landmark Handbook of Organization Studies…

The television game show The Price Is Right is used as a laboratory to conduct a preference-free test of rational decision theory in an environment with substantial economic incentives. It is found that contestants’ strategies are transparently…