This paper replicates and extends the framework of Guzman and Stern (2020) to examine the evolution of entrepreneurial activity in Europe, focusing on France, Germany, and the United Kingdom between 2009 and…
In a model of asymmetric regulation, a firm can comply with two regulatory targets, and a regulator can audit the firm for compliance. Inspection by the regulator is imperfect, and it assesses the firm’s…
What will our health care system look like in the future? How can sensible innovation policy be shaped? And how can we ensure a sustainable energy supply when economic and social conditions are constantly…
Many business relationships begin with informal interactions and later transition to formal contracts. Using a repeated-games model with a finite horizon, we show that this hybrid-contracting approach can both…
We investigate public support and venture capital (VC) investment in academic startups. Government support may enable follow-on investment by providing a quality signal to investors. This…
