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ability of a bank to restructure the borrower's firm in the case of distress, the possibility to appropriate private benefits …
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Open source software (OSS) is a public good. A self-interested individual would consider providing such software, if the benefits he gained from having it justified the cost of programming. Nevertheless each agent is tempted to free ride and wait for others to develop the software instead. This...
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Cyber attacks can impair banks operations and precipitate bank runs. When digital infrastructure is shared, banks … banks interacts with the ex post coordination frictions underpinning bank runs. While the temptation to free-ride induces … sensitive to rollover risk and bank heterogeneity. Regulatory measures, including negligence rules, liquidity regulation and …
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