Increasing potential for turnover in e-commerce is inextricably linked with an increase in risk. Online retailers (e-tailers), aiming for a company-wide value orientation should manage this risk. However, current approaches to risk management either use average retail prices elevated by an overall risk premium or restrict the payment methods offered to customers. Thus, they neglect customer-spe...

The literature has shown that the overall efficiency of exogenously imposed tournaments is reduced by a high variance in performance. This paper reports results from an experiment analyzing whether allowing subjects to self-select into different payment schemes is reducing the variability of performance in tournaments. We show that when the subjects choose to enter a tournament instead of a pie...

RESERVE BANK OF NEW ZEALAND: Bulletin Vol. 66 No. 1 1 In t roduc t ion In modern market-based economies, day-to-day activity involves many millions of transactions for goods, services and financial assets, the payment for which results in the transfer of money. In New Zealand, a total of around $35 billion is processed through domestic payment systems on average every business day, equivalent t...

For acquisitions characterized by information asymmetries, we find evidence consistent with the proposition that acquirers are able to avoid the winner’s curse. We examine the performance of acquirers of 160 biotechnology firms from 1994-2001 and find evidence that on average, the acquirers of biotech firms realize significant positive returns. These returns are positively correlated with acqui...

Much research has suggested that facial identification has some characteristics of automaticity, in that it is rapid, nonconscious, and mandatory. However, little research has tested whether it can occur even if attention is already devoted to the demanding central processes of another task. In the present study, we addressed this type of automaticity using the psychological refractory period p...

For d ≥ 2, we construct a doubling measure ν on Rd and a rectifiable curve Γ such that ν(Γ) > 0.

Two psychological refractory period (PRP) experiments were conducted to examine overlapping processing in younger and older adults. A shape discrimination task (triangle or rectangle) for Task 1 (T1) and a lexical-decision task (word or nonword) for Task 2 (T2) were used. PRP effects, response time for T2 increasing as stimulus onset synchrony (SOA) decreased, were obtained for both age groups....