Publications

We propose a conditional measure of capital market integration that allows us to characterize both the cross-section and time-series of expected returns in developed and emerging markets. Our measure, which arises from a conditional regime-…

New electronic trading technologies have drastically reduced the costs of financial transactions and put tremendous pressure on financial exchanges to lower their costs. The London Stock Exchange (LSE) is a prominent example of the changes being…

We analyze the effect of extended warranties on manufacturer’s warranty policy under conditions of producer moral hazard. When all consumers in the market are identical, the manufacturer offers a full warranty, blockading entry into the…

The present research investigated the effects of social identification and interpersonal accountability on negotiator judgment and decision making. Using arguments derived from social identity theory, the authors hypothesized that salience…

Recent studies have documented a pervasive pattern of judgmental bias in negotiations. To explain such biases, previous research has focused primarily on how cognitive processes affect negotiation processes. In contrast, the present study…

The agency theory approach to understanding salesforce compensation plans is modified to incorporate the intratemporal nature of the salesperson’s effort-rate decision, i.e., the decision about the effort-rate at any given point in time…

This study employed meta-analytic procedures to evaluate the potential validity of a model of planned organizational change. Hypotheses derived from this model focus on the relationships among planned change interventions and three classes of…

When pricing common shares investors do not assign the same earnings multiple  to all components of pension costs. And these multiples differ from the multiple assigned to earnings before pension expense, In particular, both return on plan…

Which is the more profitable way to sell a company: a public auction or an optimally structured negotiation with a smaller number of bidders? We show that under standard assumptions the public auction is always preferable, even if it forfeits all…

A clearer understanding of the strengths and weaknesses of measures of legislative preferences is essential for resolving substantive disputes about the composition of standing committees in legislatures. In criticizing interest group ratings as…

This chapter analyzes the political dispute surrounding the 957 replacement of the Bank deutscher Lander by the Deutsche Bundesbank and the 1992 changes to the Bundesbank law necessitated by German unification. The evidence suggests that the…

We report an exploratory study of the process of price formation in a speculative market in the absence of liquidity traders. Traders exchange a futures contract because they interpret information differently. We formulate trading as a sequence…

This paper tests for price patterns in retail gasoline markets consistent with those predicted by models of implicit collusion among firms. Recent supergame models show that the highest supportable collusive price is a function of today’s profit…

Abstract not available.