Three years after the seminal work of Black and Scholes on the pricing of European options, Scholes presented a paper in which the impact of taxation on the value of an option is analyzed. We restart this discussion in a simple binomial setting emphasizing the economic principles of replicating...

For three decades a handful of giant American Corporations dominated the world computer industry. In the late 1980s a host of relatively small firms seized industry leadership. Many saw in this astounding reversal of fortune the birth of an open, progressive, highly competitive and democratic...

Introduction to the theory of international trade and finance with applications to current policy issues. From the course home page: Course Description The course will help us understand what determines the flow of goods across countries, i.e. international trade, and what determines the flow of...

The development and evolution of labor market structures and institutions. Particular focus on competing explanations of recent developments in the distribution of wage and salary income and in key institutions and organizational structures. Special attention to theories of worker motivation and...

The determinants of interfirm trust are examined in 453 supplier automaker relationships in theU.S., Japan, and Korea. The findings indicate high supplier trust emerges when (1) suppliersreceive assistance from the automaker, (2) the automaker has a track record of maintaining acontinuing...

Accountable Care Organizations are developing in the United States as a result of the Patient Protection and Affordable Care Act. A study is needed to evaluate an emerging issue of ACOs, quality improvement infrastructure, and the pharmaceutical industry. The convergence of these topics has not...