Selected Articles

"Investment in Energy Efficiency: Do the Characteristics of Firms Matter?" (with William E. Watkins) Review of Economics and Statistics 80, 1998

Abstract

The literature on energy efficiency provides numerous examples of apparently profitable technologies that are not universally adopted. Yet according to the standard neoclassical theory of investment, profit-maximizing firms should undertake all investments with a positive net present value....

"The Importance of Organizational Structure for the Adoption of Innovations" (with Catherine Dibble and Keyvan Amir-Atefi) Management Science 46, 2000

Abstract

Organizational structure affects both the overall behavior of firms and the situations of individuals and subunits within firms. The effect of exogenous changes in the environ­ment (market prices, costs, or regulations) on organizations can be partitioned into the immediate direct effect of the change and the...

"Information Processing and Organizational Structure" (with William E. Watkins), Journal of Economic Behavior and Organization 36 (1998)

Abstract

Standard economic theories of the firm (and other organizations) stress profit maximization as the foundation for derivation of predictable behavior. Yet statistical and case-study evidence continues to accumulate that real firms do not act as required by the neoclassical framework.  Instead of being represented by ever more elaborate maximization models,...

"Delivered Pricing and Multiple Basing Point Equilibria: A Re-evaluation" Quarterly Journal of Economics 99, 1984

Abstract

This paper examines delivered pricing with systematic freight absorption in the light of the modern theory of spatial competition. Delivered pricing, multiple basing point equilibria are compared with f.o.b. mill pricing equilibria under a variety of assumptions about market structure and  firms'  conjectural  variations.  It is shown that there is no clear...

"Uncle Tom's Cabin: A Reappraisal" The Centennial Review 34, 1990.

 

Reprinted in part in Nineteenth-Century Literature Criticism, Vol. 50:  Criticism of the Works of Novelists, Poets, Playwrights, Short Story Writers, Philosophers, and Other Creative Writers Who Died between 1800 and 1899, from the First Published Critical Appraisals to Current Evaluations.  James E. Person, Jr., Ed., Catherine C....

"International Cooperation to Avert Global Warming: Economic Growth, Carbon Pricing, and Energy Efficiency" Journal of Environment and Development 1, 1992

Abstract

This paper develops a global simulation model linking economic growth, population growth, and fossil fuel carbon dioxide emissions. The equations of the model are estimated from historical data on a sample covering most of the countries of the world. The estimated relationships show that while increased economic...

"Carbon Rights and Economic Development: A Property Rights Approach" Critical Review 6, 1992

Abstract

Even in the absence of complete scientific consensus on the magnitude, timing, and regional distribution of the effects of global warming caused by greenhouse gas emissions, it is worthwhile to examine potential policy responses to the prospect of climate change. An internalization of the greenhouse externality based on property rights in carbon emissions offers...

"Barriers within Firms to Energy-Efficient Investments" Energy Policy 21, 1993

Abstract

Many investments in energy efficiency fail to be made despite their apparent profitability. Internal hurdle rates are often set at levels higher than the cost of capital to the firm. Reasons for these practices include bounded rationality, principal-agent problems, and moral hazard....

"The Future Through Yesterday: Long-Term Forecasting in the Novels of H.G. Wells and Jules Verne" The Centennial Review 38, 1994

Introductory Paragraph:

Suppose you were living in 1896, the date Arrhenius published his amazing paper on the Greenhouse Effect, and that your profession or intellectual passion was to predict the distant future....

"Economic Modeling and the False Tradeoff Between Environmental Protection and Economic Growth" Contemporary Economic Policy 15, 1997

Abstract

One important element of the current policy debate on what measures should be taken to reduce greenhouse gas emissions is the controversy over the costs of reducing those emissions. “Top-down ” macroeconomic and general equilibrium models give much higher estimates of the costs than “bottom-up” models based on  microeconomic and...