How does small-firm employment respond to exogenous labor productivity risk? We find that this depends on the … depends on the weather. Weather risk reduces this employment, and the effect is stronger in regions where the regional banks … have less equity capital. Bank capitalization also proxies for the extent to which the regional banks' borrowers can obtain …

on the exact design of the law. Consistent with rational, risk-based pricing, the effect on returns seems to be linked to … how firms share systematic risk with their employees under the respective laws. Firms in states with WDLs prohibiting … employers from acting in bad faith have more intra-firm risk sharing and lower expected returns. Vaguer legislation that …

We analyze an oligopolistic market where a domestic and a foreign firm are engaged in a takeover battle for a domestic … competitor. Any merger or acquisition (M&A) must be approved by a welfare maximizing domestic competition agency which may or may … of government. With an unbiased competition agency we find that the foreign takeover is more likely to occur the higher …

although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. …

) we vary three payoff indices. Indices of risk and temptation capture the unilateral incentives to defect against … reduces cooperation. In neither study, nor in either subject pool of our second study, do we find a significant effect of risk. …

We conduct laboratory experiments to investigate basic predictions of principal-agent theory about the choice of piece … rate contracts in the presence of output risk, and provide novel insights that reference dependent preferences affect the … tradeoff between risk and incentives. Subjects in our experiments choose their compensation for performing a real-effort task …

increases in risk taking. Where we can separately identify changes in risk-independent performance and risk taking, our … increases in risk taking. These effects are concentrated among those closest to the margin of elimination and among lower …