Here we examine the influence of the new set theory historiography - in particular the works of Garciadiego, Grattan-Guinness and Ferreiros - on our understanding of major twentieth-century ideas, including those of Einstein, Kimura, Sraffa and Godel. Conclusions regarding the nature of set...

This paper studies how the investors' attitude towards earnings surprises affects the managers' incentives to manipulate earnings in an intertemporal context, where the consensus forecast of the analysts is not exogenously given but determined by the strategic interaction between the analysts...

Research in sociology and ethics suggests that individuals adhere to social norms of behavior established by their peers. Within an agency framework, we model endogenous social norms by assuming each agent's cost of implementing an action depends on the social norm for that action, defined to be...

We re-examine preference reversal data from previously published studies to (1) identify the effects of different incentive treatments and (2) determine the models that best explain data patterns across incentive treatments. Contrary to the quot;folk-wisdomquot; that incentives do not affect...

We analyze capital allocation in a conglomerate where divisional managers with uncertain abilities compete for promotion to CEO. A manager can sometimes gain by unobservably adding variance to divisional output. Capital rationing can limit this distortion, increase productive efficiency, and...

There is abundant evidence that many individuals violate the rationality assumptions routinely made in economics. However, powerful evidence also indicates that violations of individual rationality do not necessarily refute the aggregate predictions of standard economic models that assume full...

Ethical awareness is growing and the word itself seems to be spreading to all walks of life. In medicine and economics a myriad of ethical committees have sprouted in an attempt to control the potential excesses of science or business transactions. How can one explain this craze for a word that...

In this paper, we examine the question of which coalition structures farsighted players form in coalition formation games with externalities. We introduce a stability concept for a coalition structure called a sequentially stable coalition structure. Our concept of domination between two...

This article presents a model describing an optimal compensation contract for the manager. The model is based on an appropriate balance of power between the shareholder who holds the right to receive dividends and the right to dismiss the manager and the manager who holds the right to wages and...

We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are desirable for many potential applications of asymmetric unawareness. We develop Bayesian games with unawareness, define equilibrium, and prove existence. We show how equilibria are...