Given potential abuse, conflicts of interest, and other issues, why do companies routinely pay for their managers to entertain the managers of other firms and allow their own managers to be so entertained? An answer that such practices facilitate inter-firm cooperation is incomplete because it...

Political leaders expend considerable time and effort planning, conducting, and attending social events such as cocktail parties, dinners, receptions, and rounds of golf. These encounters often bring elites together with their political allies and adversaries, and therefore offer opportune...