Formal Measures in Informal Management: Can a Balanced Scorecard Change a Culture?

We extend traditional agency theory by exploring the roles for formal measures when managerial behavior is not governed by rules, formulas, or contracts. Part I describes relational incentive contracts with informal weights on formal performance measures. More importantly, it also explores how formal measures could be used in models of informal management, such as adaptation and coordination, politics and influence, leadership, and informal authority. Part II considers the benefits from allowing key stakeholders to develop their own, potentially inferior, performance measures. The collaboration to create a "balanced scorecard" of performance measures can help change an organization's culture

Generalized entropy and Noether charge

We find an expression for the generalized gravitational entropy of Hawking in terms of Noether charge. As an example, the entropy of the Taub-Bolt spacetime is calculated.Comment: 6 pages, revtex, reference correcte

Rational-Expectations Equilibrium in Intermediate Good Markets

We analyze a rational-expectations model of information acquisition and price formation in an intermediate- good market: prices and net supply are non-negative, there are no noise traders, and the intermediate good has multiple potential uses. Several of our results differ from the classic Grossman-Stiglitz approach. For example, the price mechanism is more informative at high and low prices and potentially uninformative at middle prices. Also, an informed trade by a producer of one final good amounts to a noise trade from the perspective of a producer of another final good, so (a) as the price mechanism becomes more informative for producers of one final good, it becomes less informative for producers of others, who therefore have a stronger incentive to acquire information, so information acquisition has the strategic-complements property between groups, and (b) having more producers (in multiple groups) become informed need not increase the informativeness of the price mechanism.

Learning and Wage Dynamics

We develop a dynamic model of learning and wage determination: education may convey initial information about ability, but subsequent performance observations also are informative. Although the role of schooling in the labor market's inference process declines as performance observations accumulate, the estimated effect of schooling on the level of wages is independent of labor-market experience. In addition: time-invariant variables correlated with ability but unobserved by employers are increasingly correlated with wages as experience increases; wage residuals are a martingale; and wage cuts -are not rare, even for workers who do not change jobs. We present evidence from the National Longitudinal Survey of Youth that is generally consistent with all four of the model's predictions. We conclude that a blend of the learning model with an on-the-job-training model is more plausible than either model alone.

Statistical Mechanics of Black Holes

We analyze the statistical mechanics of a gas of neutral and charged black holes. The microcanonical ensemble is the only possible approach to this system, and the equilibrium configuration is the one for which most of the energy is carried by a single black hole. Schwarzschild black holes are found to obey the statistical bootstrap condition. In all cases, the microcanonical temperature is identical to the Hawking temperature of the most massive black hole in the gas. U(1) charges in general break the bootstrap property. The problems of black hole decay and of quantum coherence are also addressed.Comment: 21 page

The Diversity of Concentrated Prescribing Behavior: An Application to Antipsychotics

Physicians prescribing drugs for patients with schizophrenia and related conditions are remarkably concentrated in their choice among antipsychotic drugs. In 2007 the single antipsychotic drug prescribed by a physician accounted for 66% of all antipsychotic prescriptions written by that physician. Which particular branded antipsychotic was the prescriber's "favorite" varied widely across physicians, i.e. physician prescribing concentration patterns are diverse. Building on Frank and Zeckhauser's [2007] characterization of physician treatments varying from "custom made" to "ready-to-wear", we construct a model of physician learning that generates a number of hypotheses. Using 2007 annual antipsychotic prescribing behavior on 17,652 physicians from IMS Health, we evaluate these predictions empirically. While physician prescribing behavior is generally quite concentrated, prescribers having greater volumes, those with training in psychiatry, male prescribers, and those not approaching retirement age tend to have less concentrated prescribing patterns.

Quasilocal Thermodynamics of Dilaton Gravity coupled to Gauge Fields

We consider an Einstein-Hilbert-Dilaton action for gravity coupled to various types of Abelian and non-Abelian gauge fields in a spatially finite system. These include Yang-Mills fields and Abelian gauge fields with three and four-form field strengths. We obtain various quasilocal quantities associated with these fields, including their energy and angular momentum, and develop methods for calculating conserved charges when a solution possesses sufficient symmetry. For stationary black holes, we find an expression for the entropy from the micro-canonical form of the action. We also find a form of the first law of black hole thermodynamics for black holes with the gauge fields of the type considered here.Comment: 41 pages, latex, uses fonts provided by AMSTe

Large N Phases, Gravitational Instantons and the Nuts and Bolts of AdS Holography

Recent results in the literature concerning holography indicate that the thermodynamics of quantum gravity (at least with a negative cosmological constant) can be modeled by the large N thermodynamics of quantum field theory. We emphasize that this suggests a completely unitary evolution of processes in quantum gravity, including black hole formation and decay; and even more extreme examples involving topology change. As concrete examples which show that this correspondence holds even when the space-time is only locally asymptotically AdS, we compute the thermodynamical phase structure of the AdS-Taub-NUT and AdS-Taub-Bolt spacetimes, and compare them to a 2+1 dimensional conformal field theory (at large N) compactified on a squashed three sphere, and on the twisted plane.Comment: 20 pages, three figures. (uses harvmac.tex and epsf.tex