. Anticipation of this generates an equilibrium featuring systemic risk in which all banks choose inefficiently high leverage to fund …

We develop a basic framework to understand the organization of highly creative activities. Management faces a … creative talent. Procuring highly creative products in the market place, though, exposes the distributor to a fundamental risk …, distributors face the unavoidable winner's curse risk. Since this risk is, to a large extent, independent of the creative nature of …

risk in which all banks choose inefficiently high leverage to fund correlated assets and market discipline is compromised … ; systemic risk ; bailout ; forbearance ; moral hazard ; capital requirements …

This paper focuses on risk tolerance which clearly influences financial decision making. We explore the emotional side … of a risk taking behaviour, comparing alternative measures of financial risk tolerance resulting from the consilience of … unbiased risk tolerance (UR), which is obtained from the psycho physiological reactions of individuals taking risk in …

against the benefit of equity in attenuating risk-shifting. However, faced with socially-costly correlated bank failures …, regulators bail out creditors. Anticipation of this generates multiple equilibria, including one with systemic risk in which …

against the benefit of equity in attenuating risk-shifting. However, faced with socially-costly correlated bank failures …, regulators bail out creditors. Anticipation of this generates multiple equilibria, including one with systemic risk in which …

uncertainty in forward-looking statements in the Management Discussion and Analysis section of 10-K reports to measure the …

enhance their growth opportunities. We find that the impact of such policy uncertainty on systematic risk (beta) can be hedged …