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On the Foundations of the Theory of Market Segmentation
Abstract not available.
Operations as Strategy: Lessons From Japan
The past year has witnessed tremendous interest in Japanese management practice. Owing in part to the increasingly worldwide competitive environment, and more particularly, the survivability of certain U.S. industries (television, automobiles,…
Permanent Income, Liquidity, and Expenditure on Automobiles: Evidence from Panel Data
Several recent papers have tested the permanent income-cum- rational expectations hypothesis using data on nondurable or semi- durable consumption. We show how this approach can be extended to the case of durables. An application to panel data on…
Quantal Choice Models and Conjoint Analysis: Diagnostic and Predictive Comparisons
Quantal choice models are used to link a dichotomous or multichotomous criterion variable, measuring actual choice, with predictor variables which define attributes of alternatives. Usually, individual differences in parameter estimates are…
Rational Cooperation in the Finitely-Repeated Prisoners' Dilemma
Abstract not available.
Rational Learning and Rational Expectations
A general formulation of a rational (Bayesian) learning model with rational expectations is given. The martingale convergence theorem is used to prove that in any rational learning model, each agents posterior assessments converge as time passes…
Relative Deprivation : A Theory of Distributive Injustice for an Era of Shrinking Resources
A Strict Paired Comparison Linear Programming Approach
Abstract available on PDF.
Supplier Switching Costs and Vertical Integration in the Automobile Industry
This paper tests a transactions cost theory of vertical integration using data from the U.S. automobile industry. Existing theory is first refined to take industrial know-how and its cost of transfer into account. A testable model is then…
The Effect of Time-Complementarity on Optimal Consumption-Investment Decisions
Abstract not available.
The Effects of Dividends on Common Stock Prices Tax Effects or Information Effects?
Abstract not available.
The Ex Ante and Ex Post Price Effects of Quarterly Earnings Announcements Reflected in Option and Stock Prices
The Ex Ante and Ex Post Price Effects of Quarterly Earnings Announcements Reflected in Options and Stock Prices
Abstract not available.
The Intraday Timing of Corporate Disclosures
This study examines firms’ behavior with respect to the systematic intraday timing of earnings and dividend announcements. In particular, it tests the hypothesis that good news is more likely to be released when the security markets are open…
The Learning Curve and Competition
This article develops a model of competitive interaction and industry evolution in the presence of a learning curve. The learning curve is a function relating the unit costs of the individual firm to accumulated volume. The responses of the model…
The Market for Knowhow and the Efficient International Transfer of Technology
This paper explores the nature of international technology transfer and the operation of the market for knowhow. It begins by examining the relationship between codification and transfer costs, and then moves on to analyze various imperfections…
The Metric Quality of Ordered Categorical Data
An index of metric quality for ordered categorical scales is proposed. The index is defined as the extent to which the ordered categorical measurement is linearly related to an underlying interval scaled measurement of the property. The index,…