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We propose a new framework for pricing assets, derived in part from the traditional consumption-based approach, but which also incorporates two long-standing ideas in psychology: prospect theory, and evidence on how prior outcomes affect risky choice. Consistent with prospect theory, the...
Persistent link: https://www.econbiz.de/10012471569
This paper estimates a model of airline competition that captures the two major features of the industry: product differentiation and economies of density. The results not only provide support to some of the traditional common wisdom in the industry, but are also useful for understanding major...
Persistent link: https://www.econbiz.de/10012473287
Does academic economic research produce material of scientific value, or are academic economists writing only for clients and peers? Is economics scholarship uniquely insular? We address these questions by quantifying interactions between economics and other disciplines. Changes in the impact of...
Persistent link: https://www.econbiz.de/10012454984
"A long-standing question in social science is to what extent differences in management cause differences in firm … performance. To investigate this we ran a management field experiment on large Indian textile firms. We provided free consulting … on modern management practices to a randomly chosen set of treatment plants and compared their performance to the control …
Persistent link: https://www.econbiz.de/10011394862
Persistent link: https://www.econbiz.de/10003774896
that the law constrains managerial majority shareholders, both in their day-to-day management and when they redeem the …
Persistent link: https://www.econbiz.de/10012472048
We investigate the relation between management ownership and corporate performance, as measured by Tobin's Q. In a …
Persistent link: https://www.econbiz.de/10012477014
. It reduces organizing success by lowering profits, thus giving management a greater incentive to oppose unions. It shows … that in the traditional monopoly model, any given premium can cause management to donate more resources to opposing a union …
Persistent link: https://www.econbiz.de/10012477331
The allocation of decision rights within organizations influences resource allocation, expansion decisions, and ultimately outcomes. Using a newly constructed dataset, I estimate the effects of an earned autonomy program for State Owned Enterprises (SOEs) in India. The program gave managers (the...
Persistent link: https://www.econbiz.de/10012480249
markets, such as natural disasters, terrorist attacks, and financial crises--as a problem of risk management. This is …
Persistent link: https://www.econbiz.de/10012480579