27 November 2006
This is a list of some questions that I've tried to answer in my research. It leaves out useful things I've written on normative questions and methodology.
1. Why do manager-controlled firms survive in a competitive market?
``Stock Banks and Mutual Banks,'' Journal of Law and Economics (October 1988), 31: 395-422.
2. Why does it seem that firms are too conservative in their hurdle rates for investment projects?
``Managerial Conservatism and Rational Information Acquisition, '' Journal of Economics and Management Strategy (Spring 1992), 1: 175-202.
3. Why is there sniping in Internet auctions?
"Strategic Implications of Uncertainty Over One's Own Private Value in Auctions."
4. Why is the conviction rate so high in criminal trials in Japan?
``Why Is the Japanese Conviction Rate So High?'' (with J. Mark Ramseyer ), Journal of Legal Studies , January 2001) 30: 53-88.
5. Why do contracts leave out so many important things?
"Explaining Incomplete Contracts as the Result of Contract-Reading Costs," in the BE Press journal, Advances in Economic Analysis and Policy. Vol. 1: No. 1, Article 2 (2001).
6. Why did crime go up so much in the 1960's, and then not fall as much when penalties became high again later?
"Stigma and Self-Fulfilling Expectations of Criminality," Journal of Law and Economics 39: 519-544 (October 1996).
7. Why do politicians do such big favors for such small amounts of money?
"Cheap Bribes and the Corruption Ban: A Coordination Game among Rational Legislators," Public Choice (1994) 78: 305-327 (with J. Mark Ramseyer ).
8. Why do political protests influence politicians?
``Lobbying when the Decisionmaker Can Acquire Independent Information,'' Public Choice (1993) 77: 899-913.
9. Why are some employees paid more than their marginal product?
``An Income-Satiation Model of Efficiency Wages,'' Economic Inquiry (July 1992) 30: 467- 478.
10. How could a firm use exclusive-dealing contracts to profitably monopolize a market?
``Naked Exclusion,'' American Economic Review (December 1991) 81: 1137-1145 (with J. Mark Ramseyer and John Wiley ).
11. Why would a firm enter a monopolized market if it knew an unprofitable price war would result?
"Entry for Buyout," Journal of Industrial Economics (March 1988), 36: 281-300.
12. Why are some countries so much richer than others, when technology is freely transferable?
"A Reputation Model of Quality in North-South Trade."
13. Why do people get carried away in auctions?
"Getting Carried Away in Auctions as Imperfect Value Discovery."
14. Why do malls have big, empty, parking lots?
"The Parking Lot Problem." (with Maria Arbatskaya and Kaushik Mukhopadhaya).