In the framework of incomplete markets, due to the non-existence of trade at some points in time, and using a partial equilibrium analysis, we show how the bid-ask spread of an European derivative is generated. We also ¯nd conditons for the existence of the spread. These conditions concern the...

We will consider repeated two-person, zero-sum games in which the preferences in the repeated game depend on the stage-game references, although not necessarily in a time-consistent way. We will assume that each players repeated game payoff function at each period of time is strictly increasing...

In this research, the authors extend a contingency perspective of international marketing in an exporting context by considering how internal and external forces of the firm explain adaptation of the marketing mix in export markets. The impact of marketing strategy adaptation and past...

Using a case study of an integrated information technology services firm, I examine how the interplay between culture, structure and leadership is managed to build employee loyalty. O focus on the salient features of the case, namely that a high profile culture combines with a low profile...

The endogenous formation of coalitions involving asymmetric firms and their stability are analyzed as a function of diferences in eficiency and of the mixed cost of production. Results are derived for cartels as well as for mergers. Players have constant but diferent marginal costs of production...

In an article published in 1995, Paul Shrivastava coined the notion of an ecocentric management paradigm. The ecocentric paradigm provided an integrated and holistic view of the organization at peace with the natural environment. This paper updates the idea of ecocentricity and enriches it with...

Serendipity refers to the accidental discovery of something valuable. It is sometimes presented as an element of organizational learning but has been the object of scarce research. In this paper, I discuss the notion of serendipity in the organizational context, and elaborate a model of...

We consider games with a continuum of players and intermediate prefer- ences. We show that any such game has a Nash equilibrium that induces a partition of the set of attributes into a bounded number of convex sets with the following property: all players with an attribute in the interior of the...

Until now, in models of endogenous growth with physical capital, human capital and R&D such as in Arnold [Journal of Macroeconomics 20 (1998)] and followers, steady-state growth is independent of innovation activities. We introduce absorption in human capital accumulation and describe the...

Stronger competition in Europe triggered by the launch of the Euro and increasing regulatory demands upon the capitalisation of banks and other financial intermediaries in the continent have raised the importance of a sound and accurate measurement of the risks brought to them by the positions...