Publications

When the assumption of constant risk premiums is relaxed, financial valuation models may be tested, and risk measures estimated without specifying a market index or state variables. This is accomplished by examining the behavior of conditional…

This paper examines the effects of Broad Tape news releases of earnings and dividend announcements on three aspects of intraday stock price behavior: mean returns, return variance, and serial correlation in consecutive price changes. The initial…

The learning curve has become a central concept for corporate strategic planning. However, strategies based on the learning curve often fail to achieve their intended results. This paper explores the implications of the learning curve for…

This pager uses data on 37 chemical products to test a number of hypotheses about the learning curve and industrial price behavior. The results document a strong and consistent learning effect. Learning is found to be a function of cumulated…

Abstract not available.

Reprinted in the following:

• Reprinted in J. M. Shafritz and J. S. Ott (Eds.), Classics of Organization Theory. Chicago: The Dorsey Press, 1987.

This paper explores, within the context of a continuous-time noncooperative game, how time and information affect the rational behavior of bargainers. In the model, a buyer and a seller are engaged in the trade of a single object. Both bargainers…

Abstract not available.

This paper reconsiders the effects of taxation on risky assets, recognizing the importance of variations in asset prices. We show that earlier analyses which assumed that depreciation rates are constant and that the future price of capital goods…

This paper analyzes the value of information that is used in speculative trading. There is an important externality effect in the valuation of information in this context. The value of information depends, through its dependence on the…

Abstract not available.

This paper approximates the discounted average cost in regenerative models by an undiscounted average cost. A financial holding cost is assessed on expenditures that are incurred earlier than the middle of each cycle. Explicit upper and lower…

Abstract not available.

The determinants of collective behavior were studied in a laboratory setting. Subjects were members of a disadvantaged group. In a 3 x 2 factorial design two independent variables were manipulated. The magnitude of pay inequality…

The prediction of first choice preferences by the full-profile method of conjoint analysis can be improved significantly by imposing constraints on parameters based on a priori knowledge of the ordering of part worths for different levels…

Portable infusion pumps allow patients to self-administer chemotherapy on an outpatient basis. Successful treatment with these pumps depends upon systematic screening, education, and evaluation of patients selected for infusion treatment.…

Age dependence in organizational death rates is studied using data on three populations of organizations: national labor unions, semiconductor electronics manufacturers, and newspaper publishing companies. There is a liability of newness in each…

This article deals with decision making in small human groups that share renewable resources. It describes a computer-controlled laboratory that was developed to study factors that influence group members’ decisions about resource uses in…