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...

We examine the relation between public concern about immigration and customer complaints against minority financial advisors in the United States. We find that minority advisors are more likely to receive complaints in periods of high public concern about immigration than in other periods,...

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...

The introduction of new technologies in existing administrative and technical organizations usually represents a significant investment in equipment and training. A prudent manager will attempt to acquire the equipment needed fast enough to encourage its use while avoiding the inefficiencies of...

This paper presents an introductory survey for this special issue of Management Science on electronic markets. We acquaint the reader with some fundamental concepts in the study of electronic market mechanisms, while simultaneously presenting a survey and summary of the essential literature in...