Endogenous entry in lowest-unique sealed-bid auctions

Lowest-unique sealed-bid auctions are auctions with endogenous participation, costly bids, and the lowest bid among all unique bids wins. Properties of symmetric NEs are studied. The symmetric NE with the lowest expected gains is the maximin outcome under symmetric strategies, and it is the solution to a mathematical program. Comparative statics for the number of bidders, the value of the item and the bidding cost are derived. The two bidders’ auction is equivalent to the Hawk–Dove game. Simulations of replicator dynamics provide numerical evidence that the symmetric NE with the lowest expected gains is also asymptotically stable.     

Political connections and firm operational efficiencies: evidence from a developing country

This paper investigates the impact of political connections on firm operational efficiencies. We test the political interventions in investment and employment decisions. Our results provide strong support for the presence of investment inefficiencies and excessive employment amongst politically connected firms, whereas the detrimental effect of political interventions is substantially larger on employment decisions. We further find that such operational inefficiencies are more pronounced for low-growth connected firms. Finally, the economy-wide cost of the excessive employments is estimated to be 0.19 % of GDP annually.     

On the evaluation of steck's determinant for rectangle probabilities of uniform order statistics

An expeditious method is developed for systematically evaluating Steck’s determinant for rectangle probabilities of uniform order statistics as polynomials generated by a binary tree.     

Adolescents' feelings about openness in adoption: implications for adoption agencies

Adoption research commonly uses parents' reports of satisfaction when examining openness in adoption arrangements. This qualitative study aimed to fill a gap in the adoption research by using adolescents' voices to gain a better understanding of their adoption experiences. Adopted adolescents (n = 152) were interviewed concerning their satisfaction with the openness in their adoption arrangements with their birthmothers. Results and implications from this study may affect how adoption agencies work with adopted adolescents and their families, and may influence a broader understanding of the recent trend toward open adoption arrangements.     

The Empirical Side of the Power Elite Debate: an Assessment and Critique of Recent Research*

From the earliest writings in social science there have been lively debates over the extent to which societies are dominated by elites. Recently, empirical data have been considered for elite backgrounds, elite interlock, elite unity, and elite influence on public policy, but interpretation of the data continue to be problematic. The findings are often confusing and conflicting mainly because of differing methodologies, definitions and indicators of elite status. Focusing on the four areas of quantitative research listed, we compare the findings in an attempt to explain some of the conflicts. When possible, we have prepared summaries of the consistent findings, which tend to show, with respect to these issues, greater support for elite theories as opposed to pluralist theory. Finally we discuss some of the major questions in the debate that current research is unable to answer, and outline future research needs.     

The use of scenarios in corporate planning—eight case histories

In response to an increasingly turbulent environment, many firms are attempting to develop means to assess proposed strategies in the light of plausible alternative futures. Probably the most widely adopted technique for this purpose is multiple scenario analysis (MSA). The extent of MSA adoption among corporations varies considerably depending upon respective planning experience and top management's involvement and interest in MSA itself. The gamut of MSA adoption is examined among eight representative large U.S. corporations. It is clear that, while corporate interest is high, current formal scenario generating methodology is too complex or academic for practical corporate use. Instead, planners are using their own informal approaches to scenario generation.     

A strategic perspective for make or buy decisions

Make or buy decisions have typically been relegated to purchasing departments. While this is not totally unjustified, top management must consider the strategic implications. In essence, operative decisions are made here which influence the strategic thrust of the organization. Make or buy decisions have substantial strategic implications in the entire planning process. They can affect a firm's competitive advantage, and alter the types of alternatives considered in the planning process.

It is argued that strategic considerations should outweigh technical and conventional approaches to make or buy decisions. Top management needs to put these decisions back on their strategic agenda.