Some managers are better than others. Based on the cognitive hierarchy framework of Camerer, Ho, and Chong (2004), the authors develop a structural econometric model that estimates the level of strategic thinking. In the model, firms with a high level of strategic thinking are more likely to...

This paper reviews the literature that applies behavioral economic models to managerial decisions. It organizes the literature into research that focuses on alternative utility functions and research that focuses on non-equilibrium models. Generally, behavioral models have seen less application...

Consumers’ time allocation decisions among various activities are fundamental to marketing research and consumer behavior. We construct a dynamic panel data model to examine how consumers allocate time to a portfolio of leisure activities over time. Our data comprise a longitudinal panel where...

We develop a structural consumer lifecycle model to investigate consumers’ adoption and usage decisions of ATM cards. If consumers are forward-looking with a known discount factor, our framework can control for the heterogeneous lifespan faced by consumers of different ages, and hence measure...