Decision Making & Negotiations

In this article we construct a model in which a consumer's utility depends on the consumption history. We describe a general equilibrium framework similar to Cox, Ingersoll, and Ross (1985a). A simple example is then solved in closed form in this general equilibrium setting to rationalize the observed stickiness of the consumption series relative to the fluctuations in stock market wealth. The sample paths of consumption generated from this model imply lower variability in consumption growth rates compared to those generated by models with separable utility functions.

Analyzing the location choices of the post-1964 U.S.

Cet article s'articule le long de trois thèmes progressant de la nécessité d'étudier en marketing les reactions affectives jusqu'á une mise en evidence des spécificités de leurs mesures.

The financial payback to the City of Boston from the development of Faneuil Hall Marketplace provides a starting point for analyzing the benefits of public-private downtown project development deals.

Most U.S. corporations choose their fiscal years to coincide with the calendar year. We document that the larger the firm, the more likely it is to begin its fiscal year in January. This finding holds across industries.

A bilateral moral-hazard problem provides a rationale for "up-or-out" employment contracts. The employer sets a wage higher than opportunity cost to induce the worker to invest in firm-specific capital. If the individual does not make the grade, it is in the firm's interest ex post to fire him. Had the initial arrangement not included provisions for firing individuals, the firm would underreport the value of the employee, wrecking the incentive scheme. The basic model permits both firm and worker to be risk neutral.

This paper considers an M/G/c queueing system serving a finite number (J) of distinct customer classes. Performance of the system, as measured by the vector of steady-state expected waiting times of the customer classes (the performance vector), may be controlled by adopting an appropriate priority discipline.