We study the problem of choosing prize winners from among a group of experts when each expert nominates another expert for the prize. A nomination rule determines the set of winners on the basis of the profile of nominations; the rule is impartial if one's nomination never influences one's own...

This paper attempts to make of the standard incremental cash flow model (SICFM) a functional vehicle for coping with conflicts of interest. After outlining the model, residual rights to cash flows are linked to residual risks. Then, the underlying information sets to cash flows are brought to...

In this paper we provide evidence that the post-issue accounting profitability of firms underwritten by bank affiliated underwriters that are also borrowers from the same bank in the IPO (Initial Public Offerings) year is significantly better than average, but that the stock price performance of...

This paper studies the effect of disclosing conflicts of interests on strategic communication when the sender has lying costs. I present a simple economic mechanism under which such disclosure often leads to more informative, but at the same time also to more biased messages. This benefits...