Self-regulatory organizations (SROs) can be found in education, healthcare, and other not-for-profit sectors as well as in the accounting, financial, and legal professions. DeMarzo et al. (2005) show theoretically that SROs can create monopoly market power for their affiliated agents, but that...

Background: Infertility affects one in eight couples worldwide. In vitro fertilization (IVF) is now considered a mainstream fertility treatment to increase the chance of conceiving a child in infertile individuals. The main cause of infertility is advanced female age due to the number and...

The common-ratio effect and the Allais paradox are the two best‐known violations of expected utility theory. We reexamine data from 38 experimental articles (127 designs/ parameterizations, 12717 revealed choice patterns) and find that the common-ratio effect is systematically affected by...

We report results from a weak-link - often also called minimum-effort - game experiment with multiple Pareto-ranked strict pure-strategy Nash equilibria, using a real-effort rather than a chosen-effort task: subjects have to sort and count coins and their payoff depends on the worst performance...

We study the conditions under which it is rational for a representative entrepreneur to start a nonprofit firm. Taking as point of departure a model of entrepreneurial choice proposed by Glaeser and Shleifer (2001), we analyze consequences of weak enforcement of the non-distribution constraint...