I investigate the impact of environmental volatility and the cost of information on the preferred organizational structure, as determined by the allocation of decision rights, the compensation structure of the managers and the degree of operational integration (such as the use of shared...

In a common-values election where voters receive a signal about which candidate is superior, suppose there is a small amount of uncertainty about the likelihood of the signal's outcome, holding fixed the correct candidate. Once this uncertainty is resolved, the signal is i.i.d. across agents....

This paper proposes Pearson-type statistics based on implied probabilities to detect structural change. The class of generalized empirical likelihood estimators (see Smith (1997)) assigns a set of probabilities to each observation such that moment conditions are satisfied. These restricted...

After 1990, the financial analysis of the phenomena that occur in firms has grown in importance. Financial analysts face new challenges as a result of Romania's joining to the European Union. A thorough analysis of the investment decisions is required in order to access structural funds. Many...

The monetary and fiscal control of a simple economy without outside randomness is studied here from the micro-economic basis of a strategic market game. The government's bureaucracy is treated as a public good that provides services at a cost. A conventional public good is also considered

This paper verifies the performance of the Barro and Gordon (1983) model to explain the US inflation since the early 1950's. We divide the period from 1951:2 to 2005:2 according to each chairman of the Federal Reserve (FED). In addition, we consider aggregated periods, represented by pre-,...

I consider a Vickrey-Salop model of spatial product differentiation with quasi-linear utility functions and contrast two modes of production, the proprietary model where entrepreneurs sell software to the users, and the open source model where users participate in software development. I show...

The first part of this article outlines the purported causes of terrorism advanced in the UN General Assembly since the 1970s, and the contrary views of States on whether these causes ought to justify or excuse terrorist violence - particularly self-determination or national liberation violence....

The new prominence of constitutional tort claims like Valerie Plame's and Jose Padilla's calls for a re-examination of the form, a basic, but often overlooked, kind of lawsuit. This essay divides constitutional tort claims into three different types, each with different purposes and different...