Publications

The experiment reported here concerns an evaluator’s judgment of the quality of another person’s performance level subsequent to that performer’s own self-evaluative remarks. Specifically, we explore the attributional consequences of biased…

This paper investigates organizational mortality in the early American telephone industry, in which thousands of companies proliferated and failed under conditions of technological change. Drawing on the theory of community ecology, it is…

This is an overview of general equilibrium theory with financial markets,emphasizing the theory of valuation of securities.

Abstract not available.

This paper develops a model of vintage human capital in which each technology requires vintage specific skills. A stationary competitive equilibrium is defined, shown to exist, and be Pareto optimal. The stationary equilibrium is characterized…

In the last decade, there has been a resurgence of interest in problems of cooperation, stimulated largely by Axelrod’s work. Using an innovative tournament approach, Axelrod found that a simple strategy, Tit-for-Tat (TFT), was most successful in…

This article 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 type of equilibria exist. In the first,…

Building on previous research, this article proposes that choice behavior under preference uncertainty may be easier to explain by assuming that consumers select the alternative supported by the best reasons. This approach provides an explanation…

Discount dividend-reinvestment and stock-purchase plans allow shareholders to capture part of the underwriting fees incurred in new stock offerings and save sponsoring firms some of the usual underwriting costs. We tested the degree to which…

We quantify the information loss incurred by categorizing an unobserved continuous variable (X) into an ordered categorical scale (Z). The continuous variable is conceptualized as true score (τ) (which varies across individuals…

The earnings of married women have a more equalizing effect on the distribution of lifetime family earnings (or the expected present value of earnings) than on the distribution of annual family earnings, using PSID longitudinal data. The…

Factor Analysis is commonly used to reveal the structure underlying the multiple attributes that describe marketing stimuli. This paper provides a theoretical investigation and an empirical comparison of two approaches to Factor Analysis…

We describe the characteristics necessary for a plan for universal health insurance to find broad acceptance. Such a plan must represent incremental, not radical, change; must respect the preferences of voters, patients, and providers; must avoid…

his paper compares the information investors have about a firm’s future earnings, as reflected in its stock price, to that of the firm’s management, as reflected in its management earnings forecast. Stock returns in the pre-forecast and forecast…

Recent analyses of the nuclear arms race have emphasized the role of psychological processes in nations’ decisions to arm themselves. The present research was designed to investigate several hypotheses regarding the effects of two cognitive…