of assets in bankruptcy. Using the random assignment of judges to bankruptcy cases as a natural experiment that forces … allocation of assets in bankruptcy …

How do different bankruptcy approaches affect the local economy? Using U.S. Census microdata at the establishment level … random assignment of bankruptcy judges as a source of exogenous variation in the probability of liquidation. We find that …

In an RCT with US small businesses, we document that a large share of firms are not well-informed about bankruptcy …. Many assume that bankruptcy necessarily entails the death of a business and do not know about Chapter 11 bankruptcy, where … reform that lowered the costs of bankruptcy procedures to enhance their protection. In addition, they exhibit substantial …