Purpose – The luxury market in China has grown significantly in recent years. One unique characteristic of luxury consumers in China is their youth. While exploratory in nature, this study aims to identify and offer a meaningful understanding of different segments of young luxury consumers in...

Abstract This paper examines the incentive performance of liability and regulation when a potential injurer can take two types of preventative care, one of which is observed and one of which is not. The problem is studied in a general asymmetric information model, where settlement behavior is...

Abstract This paper studies an incentive rationale for the use of group lending as a method of financing liquidity-constrained entrepreneurs. The joint liability feature associated with group lending lowers the liquidity risk of default but creates a free-riding problem. In the static setting,...