Public sales art catlLlogues inc:1ucle low and high pre-sale price estimates made by experts. This makes it possible to analyze whether salerooms behave rationally or not, when setting their estimates. Rationality is tested using a sample of some 1,600 lots of English silver sold at auctions by...

Consumer arbitrage affects discriminatory pricing across markets in several ways. If all consumers face the same arbitrage costs, a monopolist's profit increases with arbitrage costs, and overall welfare declines with them (if output does not rise). If arbitrage costs differ across consumers, a...

Fair Process research has shown that people care not only about outcomes, but also about the process that produces these outcomes. For a decision process to be seen as fair, the people affected must have the opportunity to give input and possibly to influence the decision, and the decision...

The ‘strategy creation’ process – the process of formulating and implementing strategy – has been under critical study for decades for not delivering the desired results. The discussion on how a strategy process should be run has resulted in a number of ‘strategy schools’. Procedural...

The corporate world today is changing fast. To survive firms must be competitive, ready for changes, exploiting opportunities presented by globalization, finding finance when crisis hits, and, generally, to be able to adapt to new challenges more rapidly than possibly ever before in corporate...