To further the understanding of the mechanisms of strategy choice, in three experiments, we investigate the role of explicit awareness and working memory in strategy adaptivity. Experiment 1 provided correlational evidence that individual differences in strategy adaptivity to changing base rates are related to individual differences in awareness of those changes but appear not to be related to ...

We analyze consumers’ choice and overflow behavior between two potential market segments with different fares, capacity allocated, and then develop the optimal capacity and pricing polices assuming such consumers’ strategic behavior can be observed. Every consumer prefers to choose a fare to obtain their utmost value surplus, and select the second if the first-best choice cannot be satisfied. O...

This paper deals with capacity constrained price competition in a duopoly model. The model resembles that in Kreps and Scheinkman (1983), but the timing of the investment/capacity choice is endogenous. In equilibrium, one of the firms will invest to become the Stackelberg leader, although the ratio between the leader’s and the follower’s capacities is smaller than in the standard Stackelberg ou...

Earth's capacity to support people is determined both by natural constraints and by human choices concerning economics, environment, culture (including values and politics), and demography. Human carrying capacity is therefore dynamic and uncertain. Human choice is not captured by ecological notions of carrying capacity that are appropriate for nonhuman populations. Simple mathematical models o...

The author’s 1998 article on decentralization focused on the element of choice as the major issue of decentralization – granting authority and responsibility for choice to administrative and elected officials at peripheral levels of organizations and governments – and introduced the concept of “decision space” to describe the range of choice allowed to local authorities for different functions ...

Although set-up costs are prevalent and substantial in natural resource extraction, their analysis in decentralized markets is difficult. In particular, it is known that a Walrasian competitive equilibrium cannot exist in simple extraction models with set-up costs thus rendering standard competitive equilibrium analysis inapplicable. However, this paper demonstrates that this result is sensitiv...

We analyze the benefit of service capacity pooling for a set of independent firms. Firms have the choice of either operating their own service facilities or investing in a facility that is shared. Firms decide on capacity levels to minimize delay and capacity investment costs. If firms decide to operate a shared facility they must also decide on a scheme for sharing the cost of capacity and on ...