Publications

In this paper we analyze equilibrium pricing strategies for firms competing in a market for two goods consumed by two types of consumers. It is shown that if the proportion of poor to rich consumers is not too small or too large, equilibrium…

This paper establishes the existence of monetary equilibrium in a static economy with a finite number of agents, each described by a preference relation, an endowment of commodities and pure fiat money, and a transactions technology. In addition…

Abstract not available.

We analyze a model where traders buy information from a monopolistic seller, which is subsequently used in a speculative market. In order to overcome the dilution in the value of information due to its leakage through informative prices, the…

Schmittlein and Mahajan (Marketing Science 1982) made an important improvement in the estimation of the Bass (1969) diffusion model by appropriately aggregating the continuous time model over the time intervals represented by the data.…

Presents a theory of norms and normality and applies the theory to phenomena of emotional responses, social judgment, and conversations about causes. Norms are assumed to be constructed ad hoc by recruiting specific representations. Category…

The dichotomy between timing ability and the ability to select individual assets has been widely used in discussing investment performance measurement. This paper discusses the conceptual and econometric problems associated with defining and…

The dichotomy between timing ability and the ability to select individual assets has been widely used in discussing investment performance measurement. This paper discusses the conceptual and econometric problems associated with defining and…

Criteria for evaluating structural equation models with latent variables are defined, critiqued, and illustrated. An overall program for model evaluation is proposed based upon an interpretation of converging and diverging evidence. Model…

Abstract not available.

This is a brief review of the theory of the term structure of interest rates, and includes a discrete-time example that parallels the continuous-time model of the term structure due to Cox, Ingersoll, and Ross.

The objective of this paper is to analyse optimal tax and audit strategies for a principal seeking to redistribute income among a population of taxpayers when the principal can observe the income of an individual at a cost. We show that in very…

In this paper optimal hedging strategies are solved for in a continuous time setting. We consider a single agent maximizing the expected utility of the sum of the terminal value of a fixed portfolio of spot market assets and the terminal value of…

This paper provides an expression for the revenue maximizing and open interest maximizing choice of futures contracts by exchanges in incomplete markets under uncertainty, with quadratic Von Neumann-Morgenstern preferences and proportional…

Abstract not available.

Two types of Organization Development theory are identified and discussed. The first, implementation theory, focuses on the intervention activity required to carry out effective planned change efforts in organizations. The second, change process…

Organizations can be viewed as opportunity structures motivating strategic behavior on the part of their participants and the strategic process in organizations constitutes an internalized and contrived evolutionary mechanism nested in the…

This paper presents an integrative theoretical framework explaining goal achievement and behavioral performance and then tests the theory in head-to-head comparisons with the theory of reasoned action and the theory of planned behavior. Our…