The Age Discrimination in Employment Act of 1978 expanded employee age protections to age 70, making the widespread practice by U.S. firms of mandating retirement at age 65 illegal. Building on the work of Lazear (1979), we propose that the law change not only weakened the long-term employment...

To grow, startup ventures often require the skills of professional managers familiar with running larger organizations. However, risk considerations may discourage such candidates from departing high-paying, stable jobs. Interpreting the manager’s decision within a household holding a...