The present book adds to the broad field of investigations concerning what affects and determines human cooperation. It provides new insights into internal and external factors that influence such decisions. Rather than presenting a closed and universal examination, this book should be seen as...

This paper analyzes a class of competitive economies with production, incomplete financial markets, and agency frictions. Firms take their production, financing, and contractual decisions so as to maximize their value under rational conjectures. We show that competitive equilibria exist and that...

Furthermore, equilibria may display specialization on the part of identical firms and, when equilibria are constrained inefficient, may exhibit excessive aggregate risk. Financial decisions of the corporate sector are determined at equilibrium and depend not only on the nature of financial...