Using a common agency model, we investigate the strategies of self-interested auditors (the agent) hired by both managers (for non-audit services) and shareholders (conducting an audit) of the same firm. In a single period model, managerial discretion over consulting fees can influence auditors...

A common approach to innovation, parallel search, is to identify a large number of opportunities and then to select a subset for further development, with just a few coming to fruition. One potential weakness with parallel search is that it permits repetition. The same, or a similar, idea might...