(2015), even though loss aversion makes renegotiation sometimes inefficient. During renegotiation, the outcome induced by … is not in a "bad" state. This alters the threat-point in renegotiation, making it easier to renegotiate and thus improves …

incomplete and shaped by ex-post renegotiation. The financing of innovative firms must balance two goals. On the one hand, since … renegotiation, embeds a "put option" into the firm's capital structure. The put is exercised when liquidation is efficient, and it …

default rates, renegotiation, or loan rates individually, we study them together as equilibrium outcomes of the strategic … interaction between lenders and borrowers. We present a simple model of default and renegotiation where the degree of limited … default rates and renegotiation rates. Regarding loan pricing, while the model predicts higher interest rates for limited …

(2015), even though loss aversion makes renegotiation sometimes inefficient. During renegotiation, the outcome induced by … "bad" states. This alters the threat point in renegotiation, making it easier to renegotiate and thus improves the …