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We design optimal mechanism to collect revenues from nonrenewable resource exploitation, when the resource must be explored and discovered and when there is asymmetric information. The exploration …
Discussion paper
People often draw inferences from sequences of past performance, sometimes perceiving patterns even in random outcomes. This has fueled debates regarding phenomena such as the hot hand and gambler’s …
Discussion paper
Sons succeed their exiting CEO parents more often than daughters. How do entrepreneurial families reach this gender imbalance, and how does it affect the prospects of their firms and their offspring? …
Discussion paper