This paper considers a multi-firms advertising model under uncertainty of the Nerlove-Arrow type. It is shown (under a Markovian assumption of the advertising process) that the probability of sales for a firm in a multi-firms setting is given by a Poisson distribution with a parameter given by...

Entrepreneurs, even more than employees, tend to locate in regions in which they have deep roots ("home" regions). Here, we examine the performance implications of these choices. Whereas one might expect entrepreneurs to perform better in these regions because of their richer endowments of...

We formalize the idea that when managers require external investment to expand, higher-skilled firms will be more likely to diversify in equilibrium, even though managers can exploit asymmetric information about their ability to raise capital from investors. We exploit the timing of new fund...

This paper examines the diffusion of a particular kind of multidivisional administrative structure---the "M-Form"---in two classes of large industrial firms. The M-Form organization is a multidivisional structure with quasi-independent divisions which are assigned profit center standing and...

Current federal policies toward interfirm cooperation in research and development are designed to maximize society's use of available technology. Models of industry resource allocation behavior demonstrate that these policies are detrimental to the formation of risk sharing consortia for the...

In analyzing bidding, modeling matters. This paper is a critical analysis of the models available to aid competitive bidding decision making---bidding strategy and auction design---in real transactions. After an introductory overview, this paper describes the contexts in which auctions arise,...