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The Process of Organizational Death: Disbanding and Reconnecting
The Relative Rigidity of Monopoly Pricing
The Simple Economics of Optimal Auctions
We show that the seller’s problem in devising an optimal auction is virtually identical to the monopolist’s problem in third degree price discrimination. More generally, many of the important results and elegant techniques developed in the field…
The Stigma of Bankruptcy: Spoiled Organizational Image and Its Management
Interview, archival, and observational data from four computer firms were used to develop a theory about how Chapter 11 of the Federal Bankruptcy Code spoils the image of top managers and firms. We propose that Chapter 11 is a discrediting label…
Three Essays on Capital Markets
Value of Communication in Agencies
Abstract not available.
Viable Allocations of Information in Financial Markets
We study, in the context of a financial market, allocations of information that are consistent with endogenous information acquisition. We focus on whether information is concentrated within a fraction of the market or is diffuse. The aggregation…
Windows of Vulnerability or Cognitive Illusions? Cognitive Processes and the Nuclear Arms Race
A number of recent analyses of the nuclear arms race have emphasized the role that psychological processes play in nations’ decisions to arm themselves. The present research was designed to investigate several hypotheses regarding how to…
Installed Base and Compatibility
A good is often more valuable to any user, the more others use compatible goods. We show that this effects may inhibit innovation. If an installed base exists and transitions to a new standard must be gradual, early adopters bear a…
Modeling the term structure of interest rates under non-separable utility and durability of goods
The term structure relations implied by a model in which preferences are non-separable functions of the service flows from two goods are investigated. The parameters characterizing preferences are estimated and restrictions on the co-…
Multiperiod Security Markets with Differential Information: Martingales and Resolution Times
Social values and cooperative response to a simulated resource conservation crisis
The present study examined the relationship between individuals social motives or values and their level of cooperation during a simulated resource conservation crisis Prior to the resource task, a decomposed game procedure was used to…
Stochastic Equilibria: Existence, Spanning Number, and the 'No Expected Financial Gain From Trade' Hypothesis
Organizational Cultures and the Denial, Channeling, and Acceptance of Ambiguity
Abstract not available.
Equilibrium in incomplete markets: II: Generic existence in stochastic economies
A Supergame-Theoretic Model of Price Wars during Booms
This paper explorers the response of oligopolies to fluctuations in the demand for their products. In particular, we argue on theoretical grounds that implicitly colluding oligopolies are likely to behave more competitively in periods of high…
Entry in Monopoly Markets
Existing empirical models of entry in concentrated markets make indirect inferences about the competitive effect of entry. We propose empirical models whose structural equations are those of several different game-theoretic models of entry. These…
Choice behavior in social dilemmas: Effects of social identity, group size, and decision framing
Social dilemmas appear in 2 basic forms: the public goods (PG) problem, in which the individual must decide whether to contribute to a common resource, and the commons dilemma (CD), in which the individual must decide whether to take from a…
Acquisitions: Myth and Reality
This paper offers a set of six observations about acquisitions that run counter to the prevailing wisdom present in many firms today. Ways for managers to rethink their firms’ approach to acquisitions in the context of corporate strategy are…