I study platform design in a dynamic setting with inattentive followers. An influencer faces a stream of followers who randomly arrive on a platform and whose value from paying attention changes stochastically. The influencer chooses the quality of information to disclose each instant and...

I study information disclosure as a means to create conflict. A sender has information about two parties' relative strength and seeks to keep them engaged in a war of attrition for as long as possible. In the unique Markov Perfect Equilibrium, the sender employs “shifting rhetoric”: she...

In a SPAC transaction, a sponsor raises financing from investors using redeemable shares and rights. When investors are sophisticated, these features dilute the sponsor’s stake and can lead to underinvestment in efficient projects, but may be useful in separating good projects from bad ones....

We study dynamic Bayesian persuasion in an entry game. A sender publicly reveals information to an adopter and a competitor. When the sender's loss from competition is small, the optimal policy features hype cycles: the sender first exaggerates the value of a technology to attract the adopter,...

We study venture capital finance with experimentation. An entrepreneur contracts with an investor and has private information about a project, which requires costly experimentation by both parties to succeed. In equilibrium, investors learn about the project from the arrival of exogenous...

We provide a novel theory of monitoring. A monitor with career concerns oversees an agent and generates verifiable evidence if the agent shirks. The monitor's ability is uncertain and requires costly investment to maintain. The equilibrium features a "slippery slope'': unpunished shirking...

Venture capital (VC) investors have been criticized for lax monitoring and for being too “founder-friendly.” We identify an overlooked benefit of such behavior: entrepreneurs lie less to friendly VCs. The entrepreneur is privately informed about project success, enjoys private benefits of...