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does not alter this result. We also show that the informationally constrained optimal insurance contract has a resetting …
Persistent link: https://www.econbiz.de/10012463539
Many economic activities are embedded in networks: sets of agents and the (often) rivalrous relationships connecting them to one another. Input sourcing by firms, interbank lending, scientific research, and job search are four examples, among many, of networked economic activities. Motivated by...
Persistent link: https://www.econbiz.de/10012480521
This paper presents and structurally estimates a model of endogenous network formation and legislative activity of career-motivated politicians. Employing data on socialization and legislative effort of members of the 105th-110th U.S. Congresses, our model reconciles a set of empirical...
Persistent link: https://www.econbiz.de/10012455924
Social and economic networks are ubiquitous, serving as contexts for job search, technology diffusion, the accumulation of human capital and even the formulation of norms and values. The systematic empirical study of network formation - the process by which agents form, maintain and dissolve...
Persistent link: https://www.econbiz.de/10012458252
The central tension in securities regulation is between protecting investors and enabling broad capital formation. Focusing on VC fund managers, we study key tools of investor protection in private markets: enforcing relationship-based fundraising and restricting eligible investors. A new policy...
Persistent link: https://www.econbiz.de/10015094922
future. We can decompose altruistic preferences into baseline altruism towards any partner and directed altruism towards … friends. Decision makers vary widely in their baseline altruism, but pass at least 50 percent more surplus to friends compared … partners' expectations are well calibrated to directed altruism, but that they ignore decision makers' baseline altruism …
Persistent link: https://www.econbiz.de/10012465518
Entrepreneurs, particularly in the developing world, often hire from their networks: friends, family, and resulting referrals. Network hiring has two benefits, documented extensively in the empirical literature: entrepreneurs know more about the ability of their network (and indeed they are...
Persistent link: https://www.econbiz.de/10012479330
Networking and the giving and receiving of advice outside of one's own firm are important features of entrepreneurship and innovation. We study how immigrants and natives utilize the potential networking opportunities provided by CIC, formerly known as the Cambridge Innovation Center. CIC is...
Persistent link: https://www.econbiz.de/10012479465
Pharmaceutical companies' marketing efforts primarily target physicians, often through individual detailing that entails monetary or in-kind transfers. We study how peer influence broadens these payments' reach beyond the directly paid physicians. Combining Medicare prescriptions and Open...
Persistent link: https://www.econbiz.de/10012480282
We study factors influencing individuals' decisions to purchase Citibank stock during the 1920s. Citibank stock had a very high price per share and was only an investment option for wealthy people. The willingness to own shares was encouraged by proximity to New York, but constraints related to...
Persistent link: https://www.econbiz.de/10012453283