Motivated by markets for ``expertise,'' we study a bandit model where a principal chooses between a safe and risky arm. A strategic agent controls the risky arm and privately knows whether its type is high or low. Irrespective of type, the agent wants to maximize duration of experimentation with...

Certificate-of-need (CON) laws are intended to restrain health care spending by limiting the acquisition of duplicative capital and the initiation of unnecessary services. Critics contend that need is difficult to objectively assess, especially considering the risks and uncertainty inherent in...

The "affordability" of housing is one of the most prominent domestic public policy issues of the day, and for good reason. The housing that people are in is an important determinant of their well-being, and it is something on which people - especially those on lower incomes - typically spend a...

We study the competitive impact of content moderation by a dominant online platform. We exploit an exogenous shock that led the largest adult content platform to remove all non-verified content, eliminating 80% of its video library. Using a difference-in-differences approach and leveraging on...

We explore the determinants of success of Initial Coin Offerings (ICO) defined as whether the ICO was successful in raising the funds. We look at financial and technical information disclosed by the ICO as well as the information disclosed by third parties about the ICO and the level of legal...

This paper develops and estimates a search model of the labor market where jobs are characterized by wages and work-hours flexibility. Flexibility is valued by workers, and is costly to provide for employers. The model generates observed wage distributions directly related to the preference for...

The existing finance literature is inadequate with respect to its coverage of the debt structure of small and medi-um sized enterprises (SMEs). In addition, the role of trust in accessing finance for such enterprises is under-investigated. This paper presents a mathematical model for optimizing...

Previous research on relationship lending has paid very little attention to the role of trust. Trust might be ex-pected to reduce agency costs, perceived credit risk and thus the request for personal collateral. Trustworthiness is associated with three attributes of SME owner/managers': ability,...

We analyze a matched employer-employee panel data set and find that female leadership has a positive effect on female wages at the top of the distribution, and a negative one at the bottom. Moreover, performance in firms with female leadership increases with the share of female workers. This...

We investigate the impact of interest and non-interest products and services on the margin a bank can derive from a specific customer. The analysis is based on 4,277 observations of relationships between small cooperative banks and small and medium-sized enterprises (SME) in Finland from 2001 to...