A freeze-out bond exchange offer occurs when a firm wants to replace an existing bond, issued with a covenant, with a new bond that does not have this kind of restriction. If the bondholders are not fully coordinated, the shareholders can make an unfair exchange offer to capture wealth from the...

An often-replicated result in the experimental literature on social dilemmas is that a large share of subjects reveal conditionally cooperative preferences. Cooperation generated by this type of preferences is notoriously unstable, as individuals reduce their contributions to the public good in...

When decisions are made before roles are assigned, the Dictator Game is strategically equivalent to a linear Public Goods Game. This suggests that, when played between individuals with the same income, the prosocial behavior observed may be attributed at least in part to reciprocal altruism....

An often-replicated result in the experimental literature on social dilemmas is that a large share of subjects reveal conditionally cooperative preferences. Cooperation generated by this type of preferences is notoriously unstable, as individuals reduce their contributions to the public good in...