This paper extends and summarizes the Ekern-Wilson unanimity theorem which gives conditions sufficient to ensure that all stockholders of a firm will unanimously approve or disapprove of a project.

Elaborating on the analysis of Weitzman and of Snowberger, this article develops four additional comparative statics results for the Soviet incentive model. The article demonstrates how the optimal change in the firm's self-selected target in response to changes in the central planners'...

This article establishes conditions sufficient to ensure that a decision of a firm is judged to be desirable by any one shareholder (e.g., the firm's manager) if and only if every shareholder judges it to be desirable. One such condition is that the decision would not alter the set of...

This article integrates aspects of traditional insurance with advances in financial economics, yielding proper valuation and premium assessments of insurance benefits linked to various financial assets. Several new types of unit-linked life insurance contracts are discussed, with substantial...