Over the past fifty years, financial and legal theory have predicted that owners of firms may have incentives to take risks that have positive expected value from the perspective of firms' equity holders but negative expected value from the perspective of total firm value and of society as a...

Stochastic coupling is a powerful technique in probability theory that facilitates comparison between two probability distributions. The coupling technique is useful to bound discrepancy between two distributions, design simulation algorithms, and study asymptotic behavior of stochastic...