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faces a trade-off between the hedging value of long term debt, as its price decreases in response to adverse shocks, and the …
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We present the results of an experiment on learning in a continuous-time low-information setting. For a dominance solvable version of a Cournot oligopoly with differentiated products, we find little evidence of convergence to the Nash equilibrium. In an asynchronous setting, characterized by...
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This article seeks to establish that the social sciences have an important contribution to make to the study of ethics. The discussion is framed around three questions: (i) what theoretical work can the social sciences contribute to the understanding of ethics? (ii) what empirical work can the...
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Selling information -- Informed intermediaries -- Independent financial advice -- Mergers & Acquisitions advisory -- Securities underwriting -- Biased analyst recommendations -- Analyst reputation -- Regulation of financial analysts -- Financial innovation -- Asset management -- Brokerage...
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