We analyze the information content of stock recommendations by a sell-side equity analyst when investors are uncertain about the analyst's incentives. In our model, an analyst can either be quot;unbiasedquot;, having incentives that are congruent with those of the investor, or quot;biasedquot;,...

We study the information content of stock reports when investors are uncertain about a financial analyst's incentives. Incentives may be aligned, in which case the analyst wishes to credibly convey information, or incentives may be misaligned. We find the following: Any investor uncertainty...

Do fixed-prize charitable lotteries generate more net revenue than do revenue-dependent lotteries? I present the results of an experiment designed to test a theoretical prediction of the relationship between the prize structure of a lottery funding a public good and individuals' participation in...