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Entrepreneurs who start new firms may choose not-for-profit status as a means of commiting to soft incentives. Such … derive conditions under which completely self-interested entrepreneurs opt for not-for-profit status, despite the fact that … high quality products, the incentives are even softer, and, moreover, non-profit status can serve as a signal of that taste …
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Privately, the most profitable human use of biomass is widespread monoculture, which creates large target hosts that invite potentially lethal pathogens. In analyzing the tradeoffs, I explain how the famous formula for ecological entropy, H'= -E qj log qj, can be given a mathematically rigorous...
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This paper estimates the profits to insiders when they trade their company's stock. We construct a rolling "purchase portfolio" that holds all shares purchased by insiders over the previous year and an analogous "sale portfolio" that holds all shares sold by insiders over the previous year. We...
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