These papers are working drafts of research which often appear in final form in academic journals. The published versions may differ from the working versions provided here.
SSRN Research Paper Series
The Social Science Research Network’s Research Paper Series includes working papers produced by Stanford GSB and the Rock Center.
You may search for authors and topics and download copies of the work there.
Computing The Discounted Return In Markov And Semi-Markov Chains
This paper addresses the problem of computing the expected discounted return in finite Markov and semi-Markov chains. The objective is to reveal insights into two questions. First, which iterative methods hold the most promise? Second, when are…
Conditions for Characterizing the Structure of Optimal Strategies in Infinite Horizon Dynamic Programs
The study of infinite horizon nonstationary dynamic programs using the operator approach is continued. The point of view here differs slightly from that taken by others in that Denardo’s local income function is not used as a starting point.…
Decentralized Investment Management (Presidential Address, American Finance Association Annual Meeting, Denver, Colorado)
Abstract not available.
Dividends, Short Selling Restrictions, Tax-Induced Investor Clienteles and Market Equilibrium
Abstract not available.
Equilibrium Warrant Pricing Models and Accounting for Executive Stock Options
Abstract not available.
Estimating the Parameters of the Capital Asset Pricing Model (CAPM)--A Minimum Expected Loss (MELO) Approach
The modern theory of finance has produced the capital asset pricing model (CAPM) which is an equilibrium model establishing a relationship among the parameters of the multivariate distribution of returns from assets. Several attempts have been…
Forecasting the Effectiveness of Work-Trip Gasoline Conservation Policies through Conjoint Analysis
Policies such as tax surcharges on gasoline and reductions in transit fare were examined for their potential effectiveness in conserving gasoline. Individual level preference functions to predict work-trip modal choice (auto, public transit or…
Implied Tax Rates and the Valuation of Discount Bonds
Abstract not available.
Internal Organization and Economic Performance: An Empirical Analysis of the Profitability of Principal Firms
Abstract not available.
Learning, Estimation, And The Stability Of Rational Expectations
This paper is an investigation of the stability of the rational expectations equilibrium of a simple asset market model, in a situation where a group of dealers are learning by estimating the relationship between the price and return on the asset…
Limit Pricing and Entry Under Incomplete Information: An Equilibrium Analysis
Abstract not available.
Measuring the Time-Varying Response to Market Communication Instruments
Abstract not available.
Mutual Fund Insurance
During the 1970s, mutual fund insurance was sold in the U.S. by the Harleysville and Prudential lnsurance Companies. This paper examines the valuation and demand for this insurance. It illustrates that because of its design, for many plausible…
Nondissipative Signaling Structures and Dividend Policy
Existence conditions for signaling equilibria in which the signal is not exogenously costly are derived for the continuum of classes case. Applications to labor market, models based on productivity quotas and time-profiles of wages, and an…
On Studying Collective Behavior: Methodological Issues in the Use of Key Informants
Abstract available on PDF.
On The Chain-Store Paradox and Predation: Reputation for Toughness
Abstract not available.
On The Design Of Subscription Programs For A Performing Arts Series
This paper reports results obtained from a conjoint analysis, using a mail questionnaire, of the demand for subscription series to performing arts events. Many performing arts organizations offer substantial discounts to season subscribers. Our…