Business Commons^™

Американский Брок: "Никто Не Может Объяснить, Что Такое Социализм?", Gregory J. Brock

Gregory J. Brock

No abstract provided.

Dynamic Bargaining With Transaction Costs, Peter Cramton

Peter Cramton

A buyer and seller alternate making offers until an offer is accepted or someone terminates negotiations. The seller's valuation is common knowledge, but the buyer's valuation is known only by the buyer. Impatience to reach an agreement comes from two sources: the traders discount future payoffs and there are transaction costs of bargaining. Equilibrium behavior involves either immediate trade, delayed trade, or immediate termination, depending on the size of the gains from trade and the relative bargaining costs. This contrasts with the pure discounting model where termination never occurs, and the pure transaction cost model where delayed trade never occurs.

Shrewd Bargaining On The Moral Frontier: Toward A Theory Of Morality In Practice, Peter Cramton, J Gregory Dees

Peter Cramton

From a traditional moral point of view, business practitioners often seem overly concerned about the behavior of their peers in deciding how they ought to act. We propose to account for this concern by introducing a mutual trust perspective, where moral obligations are grounded in a sense of trust that others will abide by the same rules. When grounds for trust are absent, the obligation is weakened. We illustrate this perspective by examining the widespread ambivalence with regard to deception about one’s settlement preferences in negotiation. On an abstract level, such deception generally seems undesirable, though in many individual cases …

Characterization Of Sh Groups In Porin Of Bovine Heart Mitochondria. Porin Cysteines Are Localized In The Channel Walls., Philadelphia University

Philadelphia University, Jordan

No abstract provided.

Who Benefits From State And Local Economic Development Policies?, Timothy Bartik

Timothy J. Bartik

Bartik reviews evidence on whether state and local policies affect job growth. He then presents empirical data supporting the intentions of such programs, showing that job growth may lead to a number of positive long-term effects including: lower unemployment, higher labor force participation, higher real estate values, and better occupational opportunities. He also shows that the earnings gains to disadvantaged groups outweigh the resulting increased real estate values for property owners, and concludes by saying that regional competition for jobs may actually be a benefit for the nation as a whole.

Indirect Taxation And Trade Liberalization: An Application To India, William Rieber

William Rieber

Note: full-text not available due to publisher restrictions. Link takes you to an external site where you can acquire this article from a local library.

Trade Liberalization In Asian Newly Industrialized Countries, William Rieber, Iyanatual Islam

William Rieber

Using Auction Theory To Inform Takeover Regulation, Peter Cramton, Alan Schwartz

Peter Cramton

This paper focuses on certain mechanisms that govern the sale of corporate assets. Under Delaware law, when a potential acquirer makes a serious bid for a target, the target’s Board of Directors is required to act as would "auctioneers charged with getting the best price for the stock-holders at a sale of the company.’’ The Delaware courts’ preference for auctions follows from two premises. First, a firm’s managers should maximize the value of their shareholders’ investment in the company. Second, auctions maximize shareholder returns. The two premises together imply that a target’s board should conduct an auction when at least …