In this paper we extend the existing literature on research and development (R&D) investments and research joint ventures (RJVs) in two important ways. First, we analyze and compare the case where firms collude in the product market to the benchmark case of competition in the output market....

How does one measure the productivity of an individual participating in a team sport? The purpose of this inquiry is to answer this question via an econometric model that links the player's statistics in the National Basketball Association (NBA) to team wins. This model will then be employed in...

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We consider an economy where firms operate in an imperfectly competitive industry and mutually affect each others' investment opportunities. Each firm is assumed to face a mutually exclusive choice of investing in either a short- or a long-term project. For example, firm i's commitment to a...

Regional differences in judicial rulings on equal employment law are explored in the context of social identity theory. The notion of a human tendency to join status-based groups, socially identify with prominent group members, adopt the groups' shared mental models, and behave in ways to extend...

This paper compares the mean-variance and the mean-variance-skewness approaches to modelling expected utility. Attention is focused on a problem encountered in risk management: determining the optimal demand for a put option hedging the return on an asset with a negatively skewed return...

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Changes in the internal and the external environment of organizations are causing many of them to redesign individual jobs as team functions. Sales organizations, in particular, are responding to increased selling costs by redesigning the selling function to include a support person. The basic...

This model examines the case of managers whose signals, when informative, are perfectly correlated as in the Scharfstein and Stein model [1990. The American Economic Review 80(3): 465-479]. This has a herd increasing impact as it introduces a positive reputation externality. On the other hand,...