The notion of common goods or shared goods can help explain the expansion of audiences for arts organizations due to globalization. This expanded audience provides new fundraising opportunities for the arts. Governments, however, often have not anticipated to these new opportunities. In many...

The United States is currently trying to manage a fast-moving public health crisis due to the coronavirus outbreak (COVID-19). The economic and financial ramifications of the outbreak are serious. This Working Paper discusses these ramifications and identifies three interrelated but potentially...

A controversial new financing phenomenon has recently emerged. New “income share agreements” (“ISAs”) enable an individual to raise funds by pledging a percentage of her future earnings to investors for a certain number of years. These contracts, which have been offered by entities such...