The literature on chief executive officers (CEOs) established that economics and sociological rationales are both essential to understand the level and structure of CEOs' compensation. Our thesis is that internal "transaction costs" or frictions override strictly economic criteria to determine...

A technology with increasing marginal costs produces indivisible units of service. Each agent wants at most one unit of service. We compare two natural mechanisms where users have free access to the technology. In one mechanism, Average Cost, each user pays the same average cost, in the other,...

This paper considers the impact of privatization on corporate entrepreneurship. The proposed model illustrates how a firm's capacity to implement internal changes is influenced by three factors: credibility of the privatization process, speed of the process, and the new regulatory environment....

This paper is an investigation into whether and under which conditions consistency between brand name and logo may positively influence consumer attitudes toward brands through three studies.

The competitive equilibrium correspondence, which associates equilibrium prices of commodities and assets with allocations of endowments, identifies the preferences and beliefs of individuals under uncertainty; this is the case even if the asset market is incomplete.