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This paper describes results from a new experiment studying determinants and effects of economic risk-taking. In each … higher are the returns but also the higher is the risk of a crash and a loss. This setup permits us to investigate how … transparency and incentive structures – two issues intensively debated in policy circles – affect risk taking and vulnerability to …
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Take the fort, then take the city. In a two-stage, two-party contest, victory in the initial stage can provide an advantage in the final stage. We examine such momentum in conflict scenarios and investigate how valuable it must be to avoid a Pyrrhic victory. Our main finding is that although the...
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We analyze the announcement-period returns of 4315 two-party, non-equity alliances undertaken by US-based firms between 1986 and 2015 in 11 industries and find positive returns for all of the 11 samples, with the Drug industry reporting the highest (2.69%) cumulative abnormal return (CARs) and...
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