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This paper examines the implications of bankruptcy law for owner managed firms. These firms are typically (i) smaller, (ii) their value is closely tied to the skills of the owner manager, and (iii) the owner manager represents a feasible source of capital contributions if the firm is in...
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This article describes financial account aggregation and explores potential financial risks to the consumer and account holding financial institutions from aggregation. The current state of the law and contractual relationships relevant to such risks are analyzed. These risks include,...
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Why don't people buy annuities? Several explanations have been provided by the previous literature: large fraction of preannuitized wealth in retirees' portfolios; adverse selection; bequest motives; and medical expense uncertainty. This paper uses a quantitative model to assess the importance...
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