Financial innovations are a common explanation for the rise in credit card debt and bankruptcies. To evaluate this story, we develop a simple model that incorporates two key frictions: asymmetric information about borrowers’ risk of default and a fixed cost of developing each contract lenders...

In recent years there has been a dramatic increase in delistings from stock exchanges in the US and Europe, and this trend has been partly attributed to increasing administrative costs in listed companies. Has corporate governance regulation gone too far? We examine delistings from European...

In this paper, we consider the problem, introduced by Ginsburgh and Zang (Games Econ Behav 43:322–325, <CitationRef CitationID="CR6">2003</CitationRef>), of sharing the income from the sell of passes that allow the entrance in a set of museums. First, we recall some allocation rules and some properties presented in Ginsburgh and Zang...</citationref>

When users have <italic>ex-ante</italic> demands over a common resource and when resource size is not sufficient to cover all the individual demands, there is a need to establish a rationing rule. I test whether the choice of the rationing rule impacts the individual decision to self-insure, i.e., to invest in a...