We revisit the economic models of social learning by assuming that individuals update theirbeliefs in a non-Bayesian way. Individuals either overweigh or underweigh (in Bayesian terms)their private information relative to the public information revealed by the decisions of othersand each...

This doctoral thesis explores three distinct aspects of owner control in private firms. The three paper projects, which constitute the extant dissertation, shed light on the overarching topic of owner control in private firms by elaborating on (1) the formation of business dynasties, (2)...