This paper studies the internal organizational design of politicalinstitutions in presence of lobbying. We consider a legislature ascomposed of two bodies: the floor and an informational committee. Thefloor has the (formal) power to choose the policy to be implemented.The policy outcome is ex...

This paper studies the internal organizational design of politicalinstitutions in presence of lobbying. We consider a legislature ascomposed of two bodies: the floor and an informational committee. Thefloor has the (formal) power to choose the policy to be implemented.The policy outcome is ex...

This paper addresses the issue of the choice of the optimalinstrument to sell new shares, this choice being price versusquantity discrimination (rationing). Previous results in theliterature (Benveniste and Wilhelm, 1990) show that the issuing firmwould be better off if allowed to use both price...

Strategic investors, such as corporate venture capitalists, engage in the financing of start-up firms to complement their core businesses and to facilitate the internalization of externalities. We argue that while strategic objectives make it more worthwhile for an investor to elicit high...