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This paper proposes a method for solving stochastic multiple criteria decision making (MCDM) problems, where evaluations of alternatives on considered criteria are random variables with known probability density functions or probability mass functions. Probabilities on all possible results of...
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We present two game theoretic models on resource allocation in epidemic control and waiting time competition in service management. The first model considers the drug allocation problem when facing the outbreak of an international influenza pandemic. The drugs are for prophylactic use. Since...
Persistent link: https://www.econbiz.de/10009475422
We examine the impact of managerial incentives on acquisitions in the banking industry. We find that banks whose CEOs have higher pay-for-performance sensitivity (PPS) are less likely to engage in value-reducing acquisitions. Conditional on engaging in acquisitions, those higher-PPS banks have...
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In this paper I develop a dynamic structural model in which a firm makes rational decisions to buy or sell assets in the presence of both idiosyncratic and aggregate productivity shocks. By identifying equilibrium asset prices, the model produces an industry with a well-defined panel of firms,...
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With global climate change, the extreme flood disasters which are characterized with low frequency but huge economic losses occur more frequently. The management of the extreme flood disasters mainly depends on the administrative means of the governments at all levels in China. When the extreme...
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We estimate the labor market consequences of corporate diversification using worker-firm matched data from the U.S. Census Bureau. We find evidence that workers in diversified firms have greater cross-industry mobility. Displaced workers experience significantly smaller losses when they move to...
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