Using data from an exhaustive list of journals for the 40 year period starting in 1969 we document the stylized facts in name ordering in Economics publication. We provide a theoretical model to explain the observed facts. Our model fits the data well. We show that contribution to the idea of a...

When a firm is financially constrained, an increase in its liquid balances (or net worth) is supposed to have a positive impact on its investment (equivalently, lower the hurdle rate for its projects). However, in a multi-period setting, an increase in liquid balances may make a firm more...

Intertemporal considerations have been largely ignored in the theory of capital structure. We provide a dynamic model that integrates firms' investment, financing and cash holding decisions in the presence of moral hazard. The distinguishing feature of this model is that it takes into account...

Consider an agent with fuzzy preferences, who has to make exact choices when faced with different feasible sets of alternatives. Confining our analysis to the case of feasible sets with not more than two alternatives, we axiomatically characterize two broad classes of decision rules (`ratio...

The authors propose a solution concept--which they call viable proposals--for games in coalitional form that endogenously determines a coalition structure together with an associated set of payoff configurations as parts of the solution. They show that there is at least one viable proposal for...

Abstract: In a society where individuals differ in their valuation of different social policies, when might one consider a given individual as having references that are extreme relative to the others? And how important are such preferences in determining eventual policy? In this paper, we...