Alejandro Rivera, Tak-Yuen Wong, Alejandro Rivera, Tak-Yuen Wong, Dirk Hackbarth 2018
This paper studies incentives in a dynamic contracting framework of a levered firm. In particular, the manager selects long-term and... Read More
Peter Kondor , Adam Zawadowski 2018
We study a capital reallocation problem in which investors can enter into a new market where they compete with each other... Read More
luis garicano,luis rayo, William Fuchs , William Fuchs 2018
We study contractual arrangements that support an efficient use of time in a knowledge- intensive economy in which agents... Read More
Ravi Bansal, Ravi Bansal, Hengjie Ai 2017
The paper develops a theory for equity premium around macroeconomic announcements. Stock returns realized around pre-scheduled macroeconomic announcements, such as... Read More
Milton Harris , Christian Opp Marcus Opp 2017
We propose a general equilibrium framework to analyze the cross-sectional distribution of credit and its exposure to shocks to the... Read More
Efstathios Avdis, Masahiro Watanabe,Efstathios Avdis, Masahiro Watanabe, Efstathios Avdis 2017
We present a financial market with investors who have nested private information. Small perturbations of price informativeness, originating from fat-finger... Read More
Efstathios Avdis , Efstathios Avdis 2017
In dynamic financial markets the stochastic supply of risky assets has a significant informational role. Contrary to static models, where... Read More
Published: Journal of Financial Economics, 2016, 122(), 568-584Brendan Daley , Brett Green 2017
We study a bargaining model in which a buyer makes frequent offers to a privately informed seller, while gradually learning... Read More
Yizhou Xiao, Yizhou Xiao, Lin William Cong (叢林) 2017
Persistent fund performance in venture capital is often interpreted as evidence of differential abilities among managers. We present a dynamic... Read More
Florian Hoffmann, Roman Inderst,Florian Hoffmann, Roman Inderst, Marcus Opp 2017
We characterize optimal contracts in settings where the principal observes informative signals over time about the agent's one-time action. If... Read More