Künstliche Intelligenz: Herausforderung und Chance. Künstliche Intelligenz ist kein Zukunftsszenario, sondern längst mitten in der Gesellschaft angekommen. Höchste Zeit also, sich mit der grundlegenden Transformation unseres Arbeitslebens auseinanderzusetzen. Denn KI, davon sind die Autoren...

Applying the Monti-Klein framework, we examine the optimal financing strategy of a fi rm that requires funding for individual projects at an imperfect credit market. In particular, we study under which circumstances the firm should raise debt for projects separately (decentralized funding) or...

This paper studies the influence of agency conflicts on the irreversibility effect. Using a dynamic variant of the static Baron and Myerson (Econometrica 50(4):911–930, <CitationRef CitationID="CR7">1982</CitationRef>) adverse selection model, we characterize under which circumstances the irreversibility effect arises in the presence...</citationref>