Joel cites it to define single and double loop learning in his proposal
Papers in Finance and Financial Services
Finance and Financial Services papers in Business Administration, A
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We apply Bayesian methods to study a common vector autoregression (VAR)-based approach for decomposing the variance of excess stock returns into components reflecting news about future excess stock returns, future real interest rates, and future…
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A large number of papers have been written by physicists documenting an alleged signature of imminent financial crashes involving so-called log-periodic oscillations-oscillations which are periodic with respect to the logarithm of the time to the…
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The Bayesian approach to statistical problems, though fruitful in many ways, has been rather unsuccessful in treating nonparametric problems. This is due primarily to the difficulty in finding workable prior distributions on the parameter space,…
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Political relationships often vary over time but standard models ignore tem- poral variation in regression relationships. We describe a Bayesian model that treats the change-point in a time series as a parameter to be estimated. In this model,…
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As the number of online auction sites has increased, interest towards providing reliable summaries, reputations, about the past behaviour of sellers has risen. Existing approaches are often based on heuristics and hence proper evaluation of the…
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This paper argues that the gap between the theoretical utility and the practical utility of the resource-based view (RBV) may be narrowed by operationalizing the theory more consistently with Penrose's original framework. The operationalization…
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The acceleration of the U.S. productivity growth in the late 1990s suggests a significant advance in technological innovation, making the perceived probability of entering a "new economy" ever increasing. Based on macroeconomic data, we identify a…
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Building on agency and prospect theory views, we construct, in this article, a behavioral agency model of executive risk taking. In the model we combine elements of internal corporate governance with problem framing to explain executive risk-taking…
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Contents Preface Preface to the Second Edition Chapter 1- Introduction I Heuristics and Representativeness: Experimental Evidence Chapter 2- Representativeness and Bayes Rule: Psychological Perspective Chapter 3- Representativeness and Bayes Rule:…
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Economic analysis of law usually proceeds under the assumptions of neo-classical economics. But empirical evidence gives much reason to doubt these assumptions; people exhibit bounded rationality, bounded self-interest, and bounded willpower. This…
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The strategy field has generally been viewed as somewhat fragmented with the primary fault line stemming from the divide between economic and behavioral approaches. It is argued here that this is a false divide as any but the most trivial problems…
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Economic studies of taxation typically estimate external costs of tobacco use to be low and refrain from recommending large tobacco taxes. Behavioral economics suggests that a rational decision-making process by individuals fully aware of tobacco's…
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The box of factors that we call risk is both too large and too small. The box is large enough to include many, sometimes conflicting, measures of riskvariance and semivariance, probabilities of losses and their amounts. But the box is too small to…
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Behavioural Theory of the Firm has become a classic work in organizational theory, and is one of the most significant contributions to improving the theory of the firm. This second edition includes new material which puts the original text in a…
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We introduce a belief network model for IR which is derived from probabilistic considerations over a clearly defined sample space. This model subsumes the classical models in IR and generalizes the inference network model of Turtle and Croft.…
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A new three-factor model consisting of the market factor and common factors formed on in- vestment and return on assets goes a long way in summarizing the cross-sectional variation of expected stock returns. The model substantially outperforms…
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Recent research has documented an 'endowment effect' whereby people become more attached to objects they receive than would be predicted from their prior desire to possess the object. In two experiments, we test whether people are aware of the…
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Social responsibilities of businesses and their managers have been discussed since the 1950s. Yet no consensus about progress has been achieved in the corporate social responsibility/corporate social performance literature. In this article, we seek…
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An essential part of a modern legal system. This paper advocates rights based on a different kind of 'natural law,' rights which come not from God or externally from nature, but from human behavior - how our minds evolved. Under this approach, there…
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