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Monopoly Profits Under Free Entry With Very Impatient Players
This paper studies markets with free entry and costless capacity in which firms are allowed to set their prices (or quantities) after observing the capacities of other firms. It finds that in these markets with free entry, no sunk costs, no entry…
Nash Equilibria and Collusive Effects through Price Dispersion in Duopolies
In this paper we analyze pricing strategies of firms that compete for the demand of an assortment of goods. In particular, we model the competition between two symmetric firms in a market that consists of two types of consumers, each of which may…
Nearly Redundant Parameters and Measures of Persistence in Economic Time Series
Many economic time series are nonstationary, apparently exhibiting persistent cycles around a smoothly growing trend. First-differencing removes the nonstationarity, but creates another problem: near parameter redundancy. This paper explores the…
A Note on Exact Solution of Partially Observed Markov Decision Processes
This note points out an error in the only published algorithm for exact solution of partially observed Markov decision processes. The major insights and contributions of the original work remain intact, and the error can be remedied, albeit at…
On the Competitive Pressure Created by the Diffusion of Innovations
We consider the decision of a dominant firm to adopt (part or all of) a sequence of potential cost-reducing innovations, as well as the precise time sequence of adoption, when a fixed cost must be incurred at the date of adoption, and the latest…
On the Robustness of Equilibrium Refinements
Optimal Inspection, Lot Sizing and Setup Reduction
Porteus, and Rosenblatt and Lee have recently developed models in which process quality and lot sizing interact. Lot sizes should be reduced to compensate for poor quality. Investment in setup time reduction leads to even smaller lot sizes and…
Organization Development: Theory, Practice and Research
Abstract not available.
Organizational Cultures and the Denial, Channeling, and Acknowledgment of Ambiguity
This document explores the relationship between ambiguity and the ambiguous concept of culture which is of fundamental interest to organizational culture researchers. After an overview of the topic, a matrix framework for understanding different…
Particularistic and Universalistic Evaluation in the Social Comparison Process
In this article we argue that people are motivated to evaluate both the universalistic and particularistic standing of their abilities. One’s universalistic standing is assessed by comparing with others who are similar to…
A Political Perspective on Careers: Interests, Networks, and Environments
Abstract not available.
Power Functions of Some Common Regression Tests
This paper reviews and extends nonnull distribution results for ratios of normal quadratic forms found in R2S, F-tests, and likelihood ratio criteria. The extensions cover misspecified regression models and models with normal scale mixture errors…
Regulatory Incentive Mechanisms, Commitment, and Political Action
Abstract not available.
A Robust Approach to Thurstone Scaling
This paper presents an approach for determining unidimensional scale estimates that are relatively insensitive to limited inconsistencies in paired comparisons data. The solution procedure, shown to be a minimum cost network flow problem, is…
Salesforce Compensation Plans: A Dynamic Perspective
The agency theory approach to understanding salesforce compensation plans is extended to incorporate the intertemporal nature of the salesperson’s efforts decision, e.e., the effort can potentially change depending on the sales performance up to…
Seasonality in Consumption-Based Asset Pricing: An Analysis of Linear Models
This paper examines linear asset pricing models using aggregate consumption data which are not seasonally-adjusted. Portfolio returns exhibit more diverse and often stronger consumption correlations and the parameters of representative-agent…
Security Markets: Stochastic Models
This is a graduate level work covering the economic principles of security markets. Interested readers include students and researchers in economics and finance, as well as financial analysts following the latest theoretical developments in…
Selling and Trading on Information in Financial Markets
Service-Induced Campaign Contributions, Incumbent Shirking, and Reelection Opportunities
Abstract not available.