We present a model of timing of seasonal sales in which stores choose several designs before the season without knowing which, if any, is fashionable. Stores begin by charging high prices to capture the fashion market. As the season approaches the end with goods still unsold, stores have sales...

In a dynamic model of sports competition, we show that when spectators care only about the level of effort exerted by contestants, rewarding schemes that depend linearly on the final score difference provide more efficient incentives for efforts than schemes based only on who wins and loses....

Purpose: The purpose of this paper is to investigate whether ex ante board connections and director retention result in agency costs to target company shareholders in the form of reduced payment in mergers and acquisitions transaction. Design/methodology/approach: The authors employ detailed...