Management consulting is a significant and growing feature of the society of organizations in which we live. We develop an account of 'behavioral management consulting' by applying behavioral decision theory (BDT) to consulting. We apply in particular the representativeness heuristic,...

It is argued that organizational designs and management processes mediate between the givens of human nature and environmental forces, and that different resolutions have varying consequences for the quality of human experience in organizations. Some of these are plainly bad for people and bad...

This paper explores why expectations elicited from corporate decision-makers may fall short of the rational expectations ideal: the formation of an informed forecast may just not be part of the optimal management of uncertainty. The analysis of an investment decision shows that when forecasting...

We investigate the effect of EPA pollution control enforcement activities and firm response strategies on stockholders' wealth. We find that the market reacts negatively upon learning that the firm has been targeted, and that losing a contest with the EPA is very costly to stockholders....

This paper summarizes some recent research pertaining to laboratory markets, and then discusses some of the implications of this research for applied economics and policy. Three results are discussed: (a) in one-sided markets where sellers' post-prices price-tracking response to demand shocks is...

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This study assesses announcement period valuation effects of foreign divestitures and explains why these valuation effects vary among firms. Significant positive valuation effects are observed. The valuation effects of foreign divestitures are positive and are similar in magnitude to those of a...