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The more the merrier? Social psychological aspects of multi-party negotiations
*Reprinted in Max H. Bazerman (2005), Negotiation, decision making, and conflict resolution (Volume III), pp. 304-330. International Library of Critical Writings on Business and Management Series) Northampton, MA: Elgar Publishing.…
A Theoretical Rationale for Everyday Low Pricing by Grocery Retailers
We present one possible rationale for the emergence of everyday low pricing (EDLP) as a competitive strategy in grocery retailing. Using a game theoretic model, we show that under certain circumstances two competing retailers choose different…
To Pioneer or Follow?: Strategy of Entry Order
A Two-State Model of Brand Choice and Purchase Incidence
The authors develop and test a probabilistic model of purchase incidence and brand choice for frequently purchased consumer products. The model incorporates two ways of shopping in a category. Shoppers who have planned their purchasing (made a…
Viable Prices in Financial Markets with Solvency Constraints
We study the viability of a securities market model with continuous trading in which agents are required to remain solvent at all times and cannot add funds to their portfolio of securities in excess of an exogenous endowment. We show that…
Volatility, Efficiency and Trading: Evidence from the Japanese Stock Market
We study the joint effect of the trading mechanism and the time at which transactions take place on the behavior of stock return using data from Japan. The Tokyo Stock Exchange employs a periodic clearing procedure twice a day, at the opening of…
A Welfare Analysis of Political Action
In earlier work, I examine the situation where information pertinent to political decisions is dispersed among the members of a society. Rational, self-interested individuals may take costly political action to signal their private information to…
When Dispositional Inferences Are Suspended: Diagnosing and Calibrating Traits
When Social Comparison Goes Awry: The Case of Pluralistic Ignorance
When in doubt: Cooperation in a noisy prisoner's dilemma
In the last decade, there has been a resurgence of interest in problems of cooperation, stimulated largely by Axelrod’s work. Using an innovative tournament approach, Axelrod found that a simple strategy, tit-for-tat (TFT), was most…
Game Theory and Economic Modelling
This book examines why game theory has become such a popular tool of analy1sis. It investigates the deficiencies in this methodology and goes on to consider whether its popularity will fade or remain an important tool for economists. The book…
Conjoint Analysis in Marketing: New Developments with Implications for Research and Practice
The authors update and extend their 1978 review of conjoint analysis. In addition to discussing several new developments, they consider alternative approaches for measuring preference structures in the presence of a large number of…
Stock Dividends, Stock Splits, and Signaling
This paper provides evidence that firms signal their private information about future earnings by their choice of split factor. Split factors are increasing in earnings forecast errors, after controlling for differences in pre-split price…
How much is enough? Psychological aspects of guns versus butter decisions in a simulated security dilemma
The present research investigates the role of cognitive processes in decisions regarding how much to spend on security in a laboratory simulation of an international security dilemma. The results of 2 studies are described. Study 1 examines…
Equilibrium Vertical Foreclosure
We formulate a complete bu analytically simple, equilibrium model of vertical mergers to evaluate the logic of standard vertical foreclosure claims and the criticisms made of those claims. The model includes incentives of the integrated firm and…
Measuring Delivery Performance: A Case Study from the Semiconductor Industry
Just-in-time manufacturing and distribution processes, computer-aided design, and flexible manufacturing systems are now commonplace in the modern workplace, but antiquated accounting systems are unable to monitor accurately their operations,…
The Effects of Brand Loyalty on Competitive Price Promotional Strategies
This paper analyzes the role played by brand loyalty in determining optimal price promotional strategies used by firms in a competitive setting. (Loyalty is operationalized as the minimum price differential needed before consumers who prefer one…
Women and Poverty
Women and Poverty is a collection of essays, many of which originally appeared in the American journal Signs and have now been reissued as a book. The empirical social trend which underlines the book is the increasing impoverishment of women in…
A Course in Microeconomic Theory
David M. Kreps has developed a text in microeconomics that is both challenging and “user-friendly.” The work is designed for the first-year graduate microeconomic theory course and is accessible to advanced undergraduates as well. Placing unusual…
