This contribution proposes a model of entrepreneurial activity highlighting a complex relationship between innovation and stigma of failure. Innovation decisions are examined in an endogenous growth model with horizontal differentiation in the spirit of Romer (1990). In our framework,...

This paper proposes a model of entrepreneurial turnover highlighting a non-monotone relationship between technological change and ability-biased sorting into entrepreneurial types. Entrepreneurial decisions are examined in a two-stage model under uncertainty in which entrepreneurs decide to...

We investigate the analysts timing decisions and the extent to which timing can be a proxy for their ability. We present a model in which forecast accuracy and timing are affected by information uncertainty stemming from (i) the presence of forecast bias and (ii) investors' limited capability to...

This paper proposes a model to analyze the dynamic relationship between incentives contracts and analysts' effort in providing accurate research when both long term reputational concerns and short term incentives matter. We show that the analyst's compensation contract reflects his contribution...