Brandenburger and Stuart (1996) identified coalitional games as a means of providing precise notions of value to evaluate strategic opportunities. In this paper, we show how coalitional game theory can be utilized to operationalize these approaches. In particular, we demonstrate the importance...

We study a competitive model in which firm managers differ in terms of ability, and the managers' actions are private information. Each firm chooses how able a manager to hire, and optimizes the manager's incentive pay as well as the level of cooperating resources available to the manager. Thus,...

This paper advances the literature on the sustainability of retirement income by making consumption a stochastic variable instead of a constant real value, as previous papers have done. The paper continues to make the rate of return and date of death stochastic variables, as Milevsky and...