MANAGERIAL ECONOMICS, 11th Edition
Selected References Overview
Selected references are provided for each chapter to give students the basis for a more detailed follow up on the materials covered in each chapter. The articles chosen are good examples of recent economic research that investigates the theoretical concepts introduced and explored in each chapter.
The American Economic Review publishes a Papers and Proceedings issue each May that is an especially fruitful source of recent articles on economic theory and methodology that are typically accessible to students enrolled in this course. This issue also tends to incorporate lots of interesting articles on economic policy issues. Similarly, the Harvard Business Review and the Strategic Management Journal are often good sources for articles on business policy. Interfaces features lots of interesting articles showing how firms actually employ various optimization techniques, including linear programming and dynamic optimization techniques.
Studies of consumer demand, demand estimation, and forecasting are commonly featured in The Review of Economics and Statistics, and in leading marketing journals like the Journal of Marketing, Journal of Marketing Research, and Journal of Consumer Research. The Review of Economics and Statistics is also a top source for applied research on cost theory and estimation. The Journal of Law and Economics, Journal of Industrial Economics, and Managerial & Decision Economics are more specialized journals that focus on business and public policy issues tied to market structure measurement. They are top sources for studies on industrial organization, game theory, business strategy, regulation, and antitrust policy. Studies on long-term investment decisions and financial analysis are featured in The Journal of Finance, Journal of Financial Economics, Financial Analysts Journal, and Financial Management.
Each of the selected referenced featured in the chapter-by-chapter lists provides students with an interesting example of how economists and business scholars test the usefulness and applicability of economic theory and methodology. Enjoy!
Mark Hirschey
Lawrence, Kansas
October 2005
Chapter 1: Nature and Scope of Managerial Economics
Aier, Jagadison K, Joseph, Comprix, Matthew T Gunlock, Deanna Lee. “The Financial Expertise of CFOs and Accounting Restatements.” Accounting Horizons, vol. 19, no. 3 (September 2005), 123.
Battisti, Giuliana, and Paul Stoneman. "The Intra-Firm Diffusion of New Process Technologies." International Journal of Industrial Organization, vol. 23, no. 1/2 (February 2005), 1.
Bayou, Mohamed E., and Alan Reinstein. "Analyzing the Product-Mix Decision by using a Fuzzy Hierarchical Model." Managerial Finance, vol. 31, no. 3 (2005), 35.
Caputo, Antonio C., and Pacifico M. Pelagagge. "Introduction of an Integrated Maintenance System in the Tissue Paper Sector: A Case Study." Production Planning & Control, vol. 16, no.3 (April 2005), 243.
Collins, Alan, and Chris Hand. "Analyzing Moviegoing Demand: An Individual-Level Cross-Sectional Approach." Managerial and Decision Economics, vol. 26, no. 5 (July/August 2005), 319.
Corman, Hope, and Naci Mocan. “Carrots, Sticks, and Broken Windows*.” Journal of Law and Economics, vol. 48, no. 1 (April 2005), 235.
Diermeier, Daniel, Michael Keane, and Antonio Merlo. “A Political Economy Model of Congressional Careers.” The American Economic Review, vol. 95, no. 1 (March 2005), 347.
Goldman, Eitan, and Jun Qian. "Optimal Toeholds in Takeover Contests." Journal of Financial Economics, vol. 77, no. 2 (August 2005), 321.
Jacob-Tacken, Karin H. M., et al. "Correcting for Compensating Mechanisms Related to Productivity Costs in Economic Evaluations of Health Care Programmes." Health Economics, vol. 14, no. 5 (May 2005), 435.
Jennings, Marianne M. “Ethics and Investment Management: True Reform.” Financial Analysts Journal, vol. 61, no. 3 (May/Jun 2005), 45.
Jensen, Michael C. “Agency Costs of Overvalued Equity.” Financial Management, vol. 34, no. 1 (Spring 2005), 5.
Lafontaine, Francine, and Kathryn L. Shaw. "Targeting Managerial Control: Evidence from Franchising." The Rand Journal of Economics, vol. 36, no. 1 (Spring 2005), 131-150.
Lazear, Edward P. “Balanced Skills and Entrepreneurship.” The American Economic Review, vol. 94, no. 2 (May 2004), 208.
Liu, Zhiyong. "Stackelberg Leadership with Demand Uncertainty." Managerial and Decision Economics, vol. 26, no. 5 (July/August 2005), 345.
Louis, Henock, and Dahlia Robinson. "Do Managers Credibly use Accruals to Signal Private Information? Evidence from the Pricing of Discretionary Accruals Around Stock Splits." Journal of Accounting & Economics, vol. 39, no. 2 (June 2005), 361.
Mobarak, Ahmed Mushfiq. “Democracy, Volatility, and Economic Development.” The Review of Economics and Statistic, vol. 87, no. 2 (May 2005), 348.
Menezes, Carmen F., and X. Henry Wang. "Duality, Income and Substitution Effects for the Competitive Firm Under Price Uncertainty." Managerial and Decision Economics, vol. 26, no. 4 (June 2005), 249.
Nwogugu, Michael. "Structural Changes in the US Retailing Industry and Legal, Economic and Strategy Implications for the US Real Estate Sector." Managerial Law, vol. 47, no. 1/2 (2005), 65.
O'Gorman, Colm, Sarah Bourke, and John A. Murray. "The Nature of Managerial Work in Small Growth-Orientated Businesses." Small Business Economics, vol. 25, no. 1 (August 2005), 1.
Ozbas, Oguzhan. "Integration, Organizational Processes, and Allocation of Resources." Journal of Financial Economics, vol. 75, no. 1 (January 2005), 201.
Sethi, Gautam, et al. "Fishery Management Under Multiple Uncertainty." Journal of Environmental Economics and Management, vol. 50, no. 2 (September 2005), 300.
Sheu, Her-Jiun, and Chi-Yih Yang. "Insider Ownership and Firm Performance in Taiwan's Electronics Industry: A Technical Efficiency Perspective." Managerial and Decision Economics, vol. 26, no. 5 (July/August 2005), 307.
Shleifer, Andrei. “Does Competition Destroy Ethical Behavior?” The American Economic Review, vol. 94, no. 2 (May 2004), 414.
Steen, Eric Van den. "Organizational Beliefs and Managerial Vision." Journal of Law Economics & Organization, vol. 21, no. 1 (April 2005), 256.
Watabe, Akihiro. "Delegation of Risky Activities." Managerial and Decision Economics, vol. 26, no. 5 (July/August 2005), 331.
Chapter 2: Economic Optimization
Caplan, Bryan, and Tyler Cowen. “Do We Underestimate the Benefits of Cultural Competition?” The American Economic Review, vol. 94, no. 2 (May 2004), 402.
Dawid, Herbert, and Christophe Deissenberg. "On the Efficiency-Effects of Private (Dis-) Trust in the Government." Journal of Economic Behavior & Organization, vol. 57, no. 4 (August 2005), 530.
Doukas, John A., Chansog (Francis) Kim, and Christos Pantzalis. “The Two Faces of Analyst Coverage.” Financial Management, vol. 34, no. 2 (Summer 2005), 99.
Ermolieva, Tatiana. "Simulation-Based Optimization of Social Security Systems Under Uncertainty." European Journal of Operational Research, vol. 166, no. 3 (November 2005), 782.
Gneezy, Uri. “Deception: The Role of Consequences.” The American Economic Review, vol. 95,no. 1 (March 2005), 384.
Hens, Thorsten, and Klaus Reiner Schenk-Hoppe. "Evolutionary Stability of Portfolio Rules in Incomplete Markets." Journal of Mathematical Economics, vol. 41, no. 1/2 (February 2005), 43.
Islam, S. M. N., and B. D. Craven. "Some Extensions of Nonconvex Economic Modeling: Invexity, Quasimax, and New Stability Conditions." Journal of Optimization Theory and Applications, vol. 125, no. 2 (May 2005), 315.
Karoui, Nicole El, Monique Jeanblanc, and Vincent Lacoste. "Optimal Portfolio Management with American Capital Guarantee." Journal of Economic Dynamics & Control, vol. 29, no. 3 (March 2005), 449.
Kemp, Alexander G., and Linda Stephen. "Optimizing Oil and Gas Depletion in the Maturing North Sea with Growing Import Dependence." Oxford Review of Economic Policy, vol. 21, no. 1 (Spring 2005), 43.
Kuo, Wen-Hung. "An Analytical Comparison of Inventory Costs of JIT and EOQ Purchasing with Defective Products." Journal of Information & Optimization Sciences, vol. 26, no. 1 (January 2005), 219.
Livingston, Jeffrey A. “How Valuable is a Good Reputation? A Sample Selection Model of Internet Auctions.” The Review of Economics and Statistics, vol. 87, no. 3 (August 2005), 453.
MacCulloch, Robert. “Income Inequality and the Taste for Revolution*.” Journal of Law and Economics, vol. 48, no. 1 (April 2005), 93.
Meagher, Kieron J., and Klaus G. Zauner. "Location-then-Price Competition with Uncertain Consumer Tastes." Economic Theory, vol. 25, no. 4 (June 2005), 799.
Min, Wu, and Low Sui Pheng. "Economic Order Quantity (EOQ) Versus just-in-Time (JIT) Purchasing: An Alternative Analysis in the Ready-Mixed Concrete Industry." Construction Management and Economics, vol. 23, no. 4 (May 2005), 409.
Mundaca, B. Gabriela, and Jon Strand. "A Risk Allocation Approach to Optimal Exchange Rate Policy." Oxford Economic Papers, vol. 57, no. 3 (July 2005), 398.
Nagorniak, John J. “From Theory to Practice.” Financial Analysts Journal, vol. 61, no. 4 (July/August 2005), 42.
Oggier, Christophe, Emmanuel Fragnière, and Jeremy Stuby. "Nestlé Improves its Financial Reporting with Management Science." Interfaces, vol. 35, no. 4 (July/August 2005): 271.
Philp, Bruce, Gary Slater, and David Harvie. "Preferences, Power, and the Determination of Working Hours." Journal of Economic Issues, vol. 39, no. 1 (March 2005): 75.
Ray, Saibal, Yigal Gerchak, and Elizabeth M. Jewkes. "Joint Pricing and Inventory Policies for make-to-Stock Products with Deterministic Price-Sensitive Demand." International Journal of Production Economics, vol. 97, no. 2 (August 2005), 143.
Shleifer, Andrei, and Daniel Treisman. “A Normal Country: Russia After Communism.” The Journal of Economic Perspectives, vol. 19, no. 1 (Winter 2005), 151.
Singh, D., and Robert L. K. Tiong. "Development of Life Cycle Costing Framework for Highway Bridges in Myanmar." International Journal of Project Management, vol. 23, no. 1 (January 2005), 37.
Teng, Jinn-Tsair, Maw-Sheng Chern, and Ya-Lan Chan. "Deterministic Inventory Lot-Size Models with Shortages for Fluctuating Demand and Unit Purchase Cost." International Transactions in Operational Research, vol. 12, no. 1 (January 2005), 83.
Torabi, S. A., B. Karimi, and S. M. T. Fatemi Ghomi. "The Common Cycle Economic Lot Scheduling in Flexible Job Shops: The Finite Horizon Case." International Journal of Production Economics, vol. 97, no. 1 (July 2005), 52.
Tsai, Deng Maw, and Earl Juei Wang. "Application of Fuzzy Multiple Goal Programming on the Selection for Power Plants Considering Site and Environmental Constraints." Journal of Information & Optimization Sciences, vol. 26, no. 2 (May 2005), 343.
Wirl, Franz, and Gustav Feichtinger. "History Dependence in Concave Economies." Journal of Economic Behavior & Organization, vol. 57, no. 4 (August 2005), 390.
Chapter 3: Demand and Supply
Aizenman, Joshua. “Financial Opening and Development: Evidence and Policy Controversies.” The American Economic Review, vol. 94, no. 2 (May 2004), 65.
Atkeson, Andrew, and Patrick J. Kehoe. “Deflation and Depression: Is There an Empirical Link?” The American Economic Review, vol. 94, no. 2 (May 2004), 99.
Andersen, Poul Houman, and Poul Rind Christensen. "Bridges Over Troubled Water: Suppliers as Connective Nodes in Global Supply Networks." Journal of Business Research, vol. 58, no. 9 (September 2005), 1261.
Bento, Antonio M., et al. "The Effects of Urban Spatial Structure on Travel Demand in the United States." The Review of Economics and Statistics, vol. 87, no. 3 (August 2005), 467.
Berens, Guido, Cees B.M. van Riel, and Gerrit H. van Bruggen. “Corporate Associations and Consumer Product Responses: The Moderating Role of Corporate Brand Dominance.” Journal of Marketing, vol. 69, no. 3 (July 2005), 35.
Bernhofen, Daniel M., and John C Brown. “An Empirical Assessment of the Comparative Advantage Gains from Trade: Evidence from Japan.” The American Economic Review, vol. 95, no. 1 (March 2005), 208.
Bernstein, Fernando, and Awi Federgruen. "Decentralized Supply Chains with Competing Retailers Under Demand Uncertainty." Management Science, vol. 51, no. 1 (January 2005), 18.
Besanko, David, Jean-Pierre Dubé, and Sachin Gupta. "Own-Brand and Cross-Brand Retail Pass-through." Marketing Science, vol. 24, no. 1 (Winter 2005), 123.
Bish, Ebru K., Ana Muriel, and Stephan Biller. "Managing Flexible Capacity in a make-to-Order Environment." Management Science, vol. 51, no. 2 (February 2005), 167.
Cachon, Gérard P., and Martin A. Lariviere. "Supply Chain Coordination with Revenue-Sharing Contracts: Strengths and Limitations." Management Science, vol. 51, no. 1 (January 2005), 30.
Callioni, Gianpaolo, et al. "Inventory-Driven Costs." Harvard Business Review, vol. 83, no. 3 (March 2005), 135.
Carr, Scott M., and Uday S. Karmarkar. "Competition in Multiechelon Assembly Supply Chains." Management Science, vol. 51, no. 1 (January 2005), 45.
Dubé, Jean-Pierre, and Puneet Manchanda. "Differences in Dynamic Brand Competition Across Markets: An Empirical Analysis." Marketing Science, vol. 24, no. 1 (Winter 2005), 81.
Gaur, Vishal, Avi Giloni, and Sridhar Seshadri. "Information Sharing in a Supply Chain Under ARMA Demand." Management Science, vol. 51, no. 6 (June 2005), 961.
Gilbert, Kenneth. "An ARIMA Supply Chain Model." Management Science, vol. 51, no. 2 (February 2005), 305.
Herander, Mark G., and Luz A. Saavedra. “Exports and the Structure of Immigrant-Based Networks: The Role of Geographic Proximity.” The Review of Economics and Statistics, vol. 87, no. 2 (May 2005), 323.
Khorana, Ajay, Henri Servaes, and Peter Tufano. "Explaining the Size of the Mutual Fund Industry Around the World." Journal of Financial Economics, vol. 78, no. 1 (October 2005), 145.
Kok, Ton de, et al. "Philips Electronics Synchronizes its Supply Chain to End the Bullwhip Effect." Interfaces, vol. 35, no. 1 (January/February 2005), 37.
Milner, Joseph M., and Panos Kouvelis. "Order Quantity and Timing Flexibility in Supply Chains: The Role of Demand Characteristics." Management Science, vol. 51, no. 6 (2005), 970.
Narayanan, V. G., Ananth Raman, and Jasjit Singh. "Agency Costs in a Supply Chain with Demand Uncertainty and Price Competition." Management Science, vol. 51, no. 1 (January 2005), 120.
Netessine, Serguei, and Robert A. Shumsky. "Revenue Management Games: Horizontal and Vertical Competition." Management Science, vol. 51, no. 5 (May 2005), 813.
Saiz, Albert, and Elena Zoido. “Listening to What the World Says: Bilingualism and Earnings in the United States.” The Review of Economics and Statistics, vol. 87, no. 3 (August 2005), 523.
Simons, Robert. "Designing High-Performance Jobs." Harvard Business Review, vol. 83, no. 7 (July/August 2005), 54.
Solan, Eilon, and Nicolas Vieille. "Equilibrium Uniqueness with Perfect Complements." Economic Theory, vol. 28, no. 3 (August 2006), 721.
Stock, Axel, and Subramanian Balachander. "The Making of a "Hot Product": A Signaling Explanation of Marketers' Scarcity Strategy." Management Science, vol. 51, no. 8 (2005), 1181.
Chapter 4: Consumer Demand
Beckert, Walter. "Estimation of Heterogeneous Preferences, with an Application to Demand for Internet Services." The Review of Economics and Statistics, vol. 87, no. 3 (August 2005), 495.
Besanko, David, Jean-Pierre Dubé, and Sachin Gupta. "Own-Brand and Cross-Brand Retail Pass-through." Marketing Science, vol. 24, no. 1 (2005), 123.
Blundell, Richard, and Thomas M. Stoker. "Heterogeneity and Aggregation." Journal of Economic Literature, vol. 43, no. 2 (June 2005), 347.