The share of the private rental housing market in Central and Eastern European countries is low. With a survey data from Poland, I show that strong tenure preferences of households toward owning can be attributed to both economic and psychological factors. Building on these findings, I develop a...

In the financial economics literature debt contracts provide efficient solutions for addressing managerial moral hazard problems. We analyze a model with multiple projects where the manager obtains private information about their quality after the contract with investors is agreed. The...