We show, that Strategy profile of a normal form game is proper if and only if it is quasiperfect in every extensive form (with that normal form). Thus, properness requires optimality along a sequence of suppol ting trembles, while sequentiality only requires optimality in the limit. A...

This article summarizes the patterns of firm entry, growth, and exit in the four-digit U.S. manufacturing industries over the period 1963-1982. Entrants are disaggregated into new firms, existing firms that diversify into an industry by opening new production facilities, and existing firms that...

We construct a model in which a firm's reputation must be built gradually, is managed, and dissipates gradually unless appropriately maintained. Consumers purchase an experience good from a firm whose unobserved effort affects the probability distribution of consumer utilities. Consumers observe...