In this paper a network model is developed in which three players sequentially choose their strategies. In the first stage, a profit–maximizing network firm chooses the price and thus the size of the network. In the second stage the consumers decide whether to join in the network or not. In...

Using daily fluctuations in local sunshine as an instrument for sentiment, we study its effect on day-to-day decisions of lower-level financial officers. Positive sentiment is associated with higher credit approvals, and negative sentiment has the opposite effect of a larger magnitude. These...