This paper examines changes in executive compensation programs made by firms in response to proxy advisory firm say-on-pay voting policies. Using proprietary models, proxy advisory firms, primarily Institutional Shareholder Services and Glass, Lewis & Co., provide institutional shareholders with...

Many new firms are started by entrepreneurs who got the idea while working for their previous employer. Sometimes employers also agree to develop their employees' ideas internally. This paper develops a multi-task incentives model to analyze optimal corporate strategies towards employee...

This chapter explains the logic of structural econometric models and compares them to other types of econometric models. We provide a framework researchers can use to develop and evaluate structural econometric models. This framework pays particular attention to describing different sources of...

Sociologists and other social scientists have long recognized that certain economic transactions involve more than a simple trade of goods or services for money. A long-standing theme in economic anthropology and sociology emphasizes the symbolic or moral character of certain economic exchanges...

What types of products are preferred when the purchase is immediate versus off in the distant future? Three experiments address this question by examining the influence of temporal perspective on evaluations of regulatory-framed products. The results reveal that when a purchase is about to be...

We explored how the process of e-mail negotiation differs from face-to-face negotiation and then tested hypotheses about how its liabilities can be minimized. In the first experiment, participants negotiated one-on-one, either face-to-face or via e-mail. Consistent with expectations, negotiators...

We survey modern models of delegation which assume that a boss and subordinate pursue their own goals. Among the major themes covered are the following: the conditions under which the boss will prefer to delegate versus those in which she will prefer to retain authority; the ways in which a boss...

This paper describes a dynamic analysis of technological advances among hard disk drive (HDD) manufacturers in the areal density of their products across the history of the industry. The study provides (additional) evidence supporting a view of technological racing with leap-frogging rather than...