Author: Haimeng Zhang Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Firms are key participants in the market. Compared to individual consumers, firms, particularly those with significant market power, are often seen by economists as more resourceful to overcome information frictions, more likely to retain past information and less susceptible to bounded rationality. As a result, firms are capable of acting as sophisticated strategic players. Under the assumption of being driven by a clearly defined profit motive, firms may behave strategically when interacting with other market participants, including consumers, other firms and governments. Understanding firms' strategic behaviors is a critical step in assessing market efficiency, analyzing the wellbeing of consumers, and designing or evaluating government policies. This dissertation consists of three essays that analyze firms' strategic behaviors in different settings. Chapter 1 studies firms' strategic interactions in government organized spectrum auctions. In these ascending-bid auctions, firms as bidders are able to communicate their private information with one another using jump bidding as signals. The signals are credible since bidders with lower private information incur a higher ex ante cost for choosing a jump bid with any given size. This prevents the bidders with lower private information from mimicking those with higher private information. In equilibrium, the signaling model predicts lower expected revenue to the seller, in this case the government, than in the "open exit" model in which jump bidding is not allowed. Using data from a spectrum auction held by the Federal Communications Commission in the United States, the mean valuation estimated using the signaling model is higher compared to that of the open exit model. This implies that if bidders are indeed using jump bids as signals, ignoring it leads to estimates of the mean values that are biased downwards. This result is consistent with the prediction of the theoretical model that bidders pay lower prices with jump bidding than in an open exit auction. I estimate that if jump bidding was prohibited, the government could have had 8% higher revenues from the auction. In Chapter 2, my coauthors and I evaluate a government policy that subsidizes the agricultural equipment rental markets in India. We observe that private rental firms favor farmers located in dense areas and demanding higher machine-hours because equipment needs to be moved in space. Using our own census of 40,000 farmers, we document that costly delays and price dispersion in rentals are ubiquitous, and that small-scale farmers are rationed out by private rental firms. This rationing could be detrimental to aggregate productivity if small farmers have the highest marginal return to capital. A government subsidized first-come-first-served dispatch system grants small-scale farmers timely access to equipment at the expense of travel time. In a calibrated model of frictional rental services, optimal queueing and service dispatch we show that, while the constrained efficient allocation prioritizes large-holder farmers, small-scale farmers in dense areas are valuable because they help maximize capacity utilization. Through counterfactuals, we show that when the induced increase in subsidized equipment supply is high enough, service finding rates for small-farmers increase relative to large-holders farmers even when providers prioritize large-scale. In Chapter 3, I offer an alternative explanation to the existing theories on why firms make the strategic decision to carry out planned obsolescence. Planned obsolescence refers to the practice of firms choosing durability levels for their products below the cost-efficient ones. Motivated by the Phoebus cartel, whose reason for engaging in planned obsolescence cannot be explained by existing theories, I introduce a new theory that centers on an important concept from behavioral economics: present-biased preferences. I construct a theoretical model which demonstrates ...
Author: T. K. Das Publisher: IAP ISBN: 1641134372 Category : Business & Economics Languages : en Pages : 253
Book Description
Behavioral strategy continues to attract increasing research interest within the broader field of strategic management. Research in behavioral strategy has clear scope for development in tandem with such traditional streams of strategy research that involve economics, markets, resources, and technology. The key roles of psychology, organizational behavior, and behavioral decision making in the theory and practice of strategy have yet to be comprehensively grasped. Given that strategic thinking and strategic decision making are importantly concerned with human cognition, human decisions, and human behavior, it makes eminent sense to bring some balance in the strategy field by complementing the extant emphasis on the “objective" economics-based view with substantive attention to the “subjective” individual-oriented perspective. This calls for more focused inquiries into the role and nature of the individual strategy actors, and their cognitions and behaviors, in the strategy research enterprise. For the purposes of this book series, behavioral strategy would be broadly construed as covering all aspects of the role of the strategy maker in the entire strategy field. The scholarship relating to behavioral strategy is widely believed to be dispersed in diverse literature. These existing contributions that relate to behavioral strategy within the overall field of strategy has been known and perhaps valued by most scholars all along, but were not adequately appreciated or brought together as a coherent sub-field or as a distinct perspective of strategy. This book series on Research in Behavioral Strategy will cover the essential progress made thus far in this admittedly fragmented literature and elaborate upon fruitful streams of scholarship. More importantly, the book series will focus on providing a robust and comprehensive forum for the growing scholarship in behavioral strategy. In particular, the volumes in the series will cover new views of interdisciplinary theoretical frameworks and models (dealing with all behavioral aspects), significant practical problems of strategy formulation, implementation, and evaluation, and emerging areas of inquiry. The series will also include comprehensive empirical studies of selected segments of business, economic, industrial, government, and non-profit activities with potential for wider application of behavioral strategy. Through the ongoing release of focused topical titles, this book series will seek to disseminate theoretical insights and practical management information that will enable interested professionals to gain a rigorous and comprehensive understanding of the subject of behavioral strategy. Behavioral Strategy for Competitive Advantage contains contributions by leading scholars in the field of behavioral strategy research. The 8 chapters in this volume deal with a number of significant issues relating to how behavioral strategy may serve to create competitive advantage, covering topics such as decision change timing, top management regulatory focus, cognitive foundations of pricing decisions, short-termism in HRM, and the effects of managerial role enactments on alliance performance. The chapters include empirical as well as conceptual treatments of the selected topics, and collectively present a wide-ranging review of the noteworthy research perspectives on the role of behavioral strategy in enhancing competitive advantage.
Author: Richard Michael 1921- Cyert Publisher: Hassell Street Press ISBN: 9781015087965 Category : Languages : en Pages : 360
Book Description
This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Author: Huy Nguyen (Ph. D.) Publisher: ISBN: Category : Corporate governance Languages : en Pages :
Book Description
What is the role of corporate social responsibility (CSR) in business strategy? More specifically, how does CSR engagement influence firms’ strategic behaviors? While the idea of CSR has started gaining traction back in the 1960s, the dominant line of inquiry tends to focus on providing justifications for CSR activities. The rapid changes in technology along with the continuous push toward globalization over the last thirty years have not only brought the world closer together but have also changed the basic fabric of our socio-institutional conditions. The firms in the modern society can no longer claim that they only have the fiduciary duty to the shareholders. Indeed, social and institutional stakeholders have increasingly demanded the firms to not only meet their economic objectives but also to satisfy other socio-institutional expectations including CSR engagement. Thus, CSR activities may influence not only the firms’ relationships with the external environment but also the internal organizational environment. Such influence may have profound impact on the firms’ strategic behaviors; yet our understanding is rather cursory. Endeavoring to join this scholarly discourse, this dissertation includes three separate essays that explore the strategic drivers and consequences of CSR engagement. Specifically, the first essay (Chapter 1) examines the influence of CSR engagement on internal corporate governance practices by asking the question: Are socially responsible firms more likely to appoint woman and minority CEOs? The second essay (Chapter 2) expands the scope of inquiry by investigating whether differences in stakeholder orientation as reflected in differences in CSR engagement between alliance partners may reduce the effectiveness of alliances as a value creation strategy. Lastly, the third essay (Chapter 3) explores how firms in different institutional environments (the United States vs. China) may choose diverging paths in using CSR engagement to ensure continuing collaboration of critical stakeholders. Taken together, these essays contribute to a better understanding of how CSR engagement may influence firm strategic behaviors as well as the changing roles and expectations of the firms in modern society.
Author: Richard R. Nelson Publisher: Cambridge University Press ISBN: 1108660789 Category : Business & Economics Languages : en Pages : 285
Book Description
Evolutionary economics sees the economy as always in motion with change being driven largely by continuing innovation. This approach to economics, heavily influenced by the work of Joseph Schumpeter, saw a revival as an alternative way of thinking about economic advancement as a result of Richard Nelson and Sidney Winter's seminal book, An Evolutionary Theory of Economic Change, first published in 1982. In this long-awaited follow-up, Nelson is joined by leading figures in the field of evolutionary economics, reviewing in detail how this perspective has been manifest in various areas of economic inquiry where evolutionary economists have been active. Providing the perfect overview for interested economists and social scientists, readers will learn how in each of the diverse fields featured, evolutionary economics has enabled an improved understanding of how and why economic progress occurs.
Author: Annika Geyer Publisher: Springer ISBN: 3658131179 Category : Business & Economics Languages : en Pages : 345
Book Description
Annika Geyer aims to advance the current understanding of variations in family businesses' growth performance and to explain their potential origins. She focuses on the respective impact of the set of relevant background factors (stemming from top executives' individual characteristics as well as the given organizational and social environment) on the firms growth performance and the underlying processes through which this impact is transmitted. The insights of this work constitute an essential step towards settling the debate on how the family actually contributes to the family firm's performance and hold some important implications for practitioners.
Author: Julian Barling Publisher: SAGE ISBN: 1446206610 Category : Business & Economics Languages : en Pages : 777
Book Description
This milestone handbook brings together an impressive collection of international contributions on micro research in organizational behavior. Focusing on core micro organizational behaviour issues, chapters cover key themes such as individual and group behaviour. The SAGE Handbook of Organizational Behavior Volume One provides students and scholars with an insightful and wide reaching survey of the current state of the field and is an indespensible road map to the subject area. The SAGE Handbook of Organizational Behavior Volume Two edited by Stewart R Clegg and Cary L Cooper draws together contributions from leading macro organizational behaviour scholars.
Author: T. K. Das Publisher: IAP ISBN: 164802050X Category : Business & Economics Languages : en Pages : 321
Book Description
Behavioral strategy continues to attract increasing research interest within the broader field of strategic management. Research in behavioral strategy has clear scope for development in tandem with such traditional streams of strategy research that involve economics, markets, resources, and technology. The key roles of psychology, organizational behavior, and behavioral decision making in the theory and practice of strategy have yet to be comprehensively grasped. Given that strategic thinking and strategic decision making are importantly concerned with human cognition, human decisions, and human behavior, it makes eminent sense to bring some balance in the strategy field by complementing the extant emphasis on the “objective” economics-based view with substantive attention to the “subjective” individual-oriented perspective. This calls for more focused inquiries into the role and nature of the individual strategy actors, and their cognitions and behaviors, in the strategy research enterprise. For the purposes of this book series, behavioral strategy would be broadly construed as covering all aspects of the role of the strategy maker in the entire strategy field. The scholarship relating to behavioral strategy is widely believed to be dispersed in diverse literatures. These existing contributions that relate to behavioral strategy within the overall field of strategy has been known and perhaps valued by most scholars all along, but were not adequately appreciated or brought together as a coherent sub-field or as a distinct perspective of strategy. This book series on Research in Behavioral Strategy will cover the essential progress made thus far in this admittedly fragmented literature and elaborate upon fruitful streams of scholarship. More importantly, the book series will focus on providing a robust and comprehensive forum for the growing scholarship in behavioral strategy. In particular, the volumes in the series will cover new views of interdisciplinary theoretical frameworks and models (dealing with all behavioral aspects), significant practical problems of strategy formulation, implementation, and evaluation, and emerging areas of inquiry. The series will also include comprehensive empirical studies of selected segments of business, economic, industrial, government, and non-profit activities with potential for wider application of behavioral strategy. Through the ongoing release of focused topical titles, this book series will seek to disseminate theoretical insights and practical management information that will enable interested professionals to gain a rigorous and comprehensive understanding of the subject of behavioral strategy. Entrepreneurship and Behavioral Strategy contains contributions by leading scholars in the field of entrepreneurship with an interest in researching behavioral perspectives. The 10 chapters in this volume deal with a number of significant issues relating broadly to the behavioral aspects of entrepreneurship, covering topics such as entrepreneurial process orientation, a machine learning approach to reviewing the intersection of the entrepreneurship and behavioral strategy literatures, the temporalities of entrepreneurial risk behavior, entrepreneurs under ambiguity, disruptive business model innovations, international attention, entrepreneurial team formation, building alliances in new and small ventures, the role of insight in entrepreneurial action, and the effects of foreign competition on entrepreneurship activities. The chapters include empirical as well as conceptual treatments of the selected topics, and collectively present a wide-ranging review of the noteworthy research perspectives on the confluence of entrepreneurship and behavioral strategy.
Author: Richard Michael Cyert Publisher: Martino Fine Books ISBN: 9781614275329 Category : Business & Economics Languages : en Pages : 346
Book Description
2013 Reprint of 1963 First Edition. Full facsimile of the original edition, not reproduced with Optical Recognition Software. "A Behavioral Theory of the Firm" has become a classic work in organizational theory, and is one of the most significant contributions to theory intended to improve the operation of the modern corporation. The authors use experiments and empirical observations to build their model of decision making. They reject the structure of the firm as represented by classical economic theory, instead they focus on the discretion of management. They also offer a new way of viewing the effects of organization, communications and individuals on the firm's overall activity. This is path breaking book and among the most important and provocative interpretations yet advanced for seeing inside the firm to understand it as an organization and an economic entity.
Author: Haimeng Zhang
Author: T. K. Das
Author: Richard Michael 1921- Cyert
Author: Esra Memili
Author: Huy Nguyen (Ph. D.)
Author: Richard R. Nelson
Author: Annika Geyer
Author: Julian Barling
Author: T. K. Das
Author: Richard Michael Cyert