This paper analyzes optimal contracts for financing risky new projects in a two-period agency model. The principal and t he agent both learn about the project quality, and the agent's unobservable actions affect the learning process. The parties have access to the credit market. Compared to the...

This article measures efficiency of the top 50 business schools in the United States in 2006, using the Data Envelopment Analysis (DEA) method. We use peer assessment (to represent school quality) and average Graduate Management Admission Test (GMAT) scores (to represent student ability) as...