Publications

Planned Obsolescence is the production of goods with uneconomically short useful lives so that customers will have to make repeat purchases. However rational customers will pay for only the present value of the future services of a product.…

Contrary to earlier work which tended to find that wife’s labor force participation and family size are negatively and causally related, t h e present study finds that the variables are spuriously correlated. More specifically, labor force…

Recent discussions of methodology have been dominated by two arguments: that one methodology is generally better than another or that one methodology is better than another for the purpose of addressing a particular theoretical issue. Qualitative…

Acts of collective violence, such as riots and rebellions, have immediate and devastating physical and economic consequences. Consider, for instance, the riots that occurred in Miami in May, 1980. On 3-day spree of violence and bloodletting left…

Competing brands that are ex ante homogeneous may become, after the purchase of one of them, ex post heterogeneous. The switching costs that differentiate these functionally identical products may be learning costs, transaction costs, or “…

This paper primarily demonstrates the existence of Arrow-Debreu equilibria in a general class of topological vector spaces of commodity bundles. Two conditions based on production possibilities, preferences, and the topological nature of bounded…

Abstract not available.

This paper uses discrete-time and continuous-time models to derive equilibrium relations among real and nominal interest rates and the expected growth, variance and covariance parameters of optimally chosen paths for aggregate real consumption…

Historically, acquisition scholars and practitioners have adopted a choice perspective which portrays the corporate executive analyzing acquisition opportunities as a rational decision-maker. This paper suggests that the choice perspective be…

This paper presents an agency model in which one of several monitoring systems can be chosen. If the agent possesses private information about the firm’s production technology, the principal may rationally prefer to delegate the choice of the…

Abstract not available.

The paper presents a model which identifies entrepreneurial activity as a natural and integral part of the strategic process in large, established firms. A conceptual framework is proposed to help top management assess entrepreneurial business…

Several partners jointly own an asset that may be traded among them. Each partner has a valuation for the asset; the valuations are known privately and drawn independently from a common probability distribution. We characterize the set of all…

In contemporary marketing research product line interdependencies are largely ignored, though substantial empirical evidence exists that these phenomena are of considerable practical relevance. In the present paper it is argued that experiences…

A common finding in the literature is that systematic post-announcement drifts in security returns are associated with the sign or magnitude of unexpected earnings changes. This paper examines proposed explanations for these drifts. The paper…

Equity is used to define a set of organizational rules and procedures by which authority is legitimatized in bureaucracies. It is conceptualized in more abstract and functional terms by sociologists, anthropologists, and political…

Criteria for scaling beliefs and evaluations in the Fishbein model are considered, and a procedure is developed and illustrated for the proper test of multiplicative models. Hierarchical regression is shown to be a valid method for testing…

Expectancy-value models are analyzed in terms of their level of abstraction and the rules governing how beliefs and evaluations combine to produce an attitude. In addition, suggestions are made as to modes of operationalization and methods for…

f two variables that measure postschool investment-the years of labor market experience and the years of employer tenure. This investigation develops a better proxy for general human capital investments by hypothesizing that the intensity of…