Financial decision making involves uncertainty and consequently risk. It is well known that asset return forecasts and risk estimates are inherently inaccurate. The inaccuracy in forecasting and estimation can be addressed through the specification of rival scenarios. In this paper, we extend the multi-period mean-variance portfolio optimization and asset liability management problems to the ro...

During binocular rivalry, physical stimulation is dissociated from conscious visual awareness. Human brain imaging reveals a tight linkage between the neural events in human primary visual cortex (V1) and the dynamics of perceptual waves during transitions in dominance during binocular rivalry. Here, we report results from experiments in which observers’ attention was diverted from the rival st...

This paper investigates competitive tension, or the strain between a focal firm and a given rival that is likely to result in the firm taking action against the rival. Drawing on the awareness-motivation-capability perspective, we show how perceived competitive tension, as constructed from managers’ and industry stakeholders’ competitor assessments, is influenced by the independent and interact...

We show that bundling is the optimal pricing strategy for a base good monopolist who also supplies a supplemental good under zero marginal cost of production. Without the exit of the rival firm, bundling is a profitable strategy because it increases the profits in the base good market. We show that bundling lowers social welfare as well as rival firms’ profit if the supplemental goods are close...

During binocular rivalry, physical stimulation is dissociated from conscious visual awareness. Human brain imaging reveals a tight linkage between the neural events in human primary visual cortex (V1) and the dynamics of perceptual waves during transitions in dominance during binocular rivalry. Here, we report results from experiments in which observers’ attention was diverted from the rival st...

In many important high-technology markets, including software development, data processing, communications, aeronautics, and defense, suppliers learn through experience how to provide better service at lower cost. This paper examines how a buyer designs dynamic competition among rival suppliers to exploit learning economies while minimizing the costs of becoming locked in to one producer. Strat...