We propose a model of investment, duration, and exit strategies for start-ups backed by venture capital (VC) funds that accounts for the high level of uncertainty, the asymmetry of information between insiders and outsiders, and the discount rate. Our analysis predicts that start-ups backed by...

We propose a model of investment, duration, and exit strategies for start-ups backed by venture capital (VC) funds that accounts for the high level of uncertainty, the asymmetry of information between insiders and outsiders, and the discount rate. Our analysis predicts that start-ups backed by...

Zhang et al. (Stat Sinica 18:1689–1705, <CitationRef CitationID="CR15">2008</CitationRef>) introduced an aliased effect-number pattern for two-level regular designs and proposed a general minimum lower-order confounding (GMC) criterion for choosing optimal designs. All the GMC <InlineEquation ID="IEq7"> <EquationSource Format="TEX">$$2^{n-m}$$</EquationSource> <EquationSource Format="MATHML"> <math xmlns:xlink="http://www.w3.org/1999/xlink"> <msup> <mn>2</mn> <mrow> <mi>n</mi> <mo>-</mo> <mi>m</mi> </mrow> </msup> </math> </EquationSource> </InlineEquation> designs with <InlineEquation ID="IEq8"> <EquationSource Format="TEX">$$N/4+1\le n\le...</equationsource></inlineequation></equationsource></equationsource></inlineequation></citationref>

Several papers study the effect of trust by using the answer to the World Values Survey (WVS) question "Generally speaking, would you say that most people can be trusted or that you can't be too careful in dealing with people?" to measure the level of trust. Glaeser et al. (2000) question the...

[fre] Le rôle de la délégation dans une relation d'agence, . par Inès Macho-Stadler, J. David Pérez-Castrillo.. . Cet article analyse deux modèles d'agence dans lesquels un principal engage un agent pour fournir un effort productif non observable. Or le principal doit lui même fournir un...

[fre] La structure industrielle dans une course au brevet avec coûts fixes et coûts variables. . Dans cet article, on étudie un modèle de course au brevet qui intègre explicitement des coûts fixes et des coûts variables dans la technologie de R&D. On obtient des résultats qui...

We study a sequential protocol of endogenous coalition formation based on a process of bilateral agreements among the players. We apply the game to a Cournot environment with linear demand and constant average costs. We show that the final outcome of any Subgame Perfect Equilibrium of the game...

We analyze a model where firms chose a production technology which, together with some random event, determines the final emission level. We consider the coexistence of two alternative technologies: a “clean” technology, and a “dirty” technology. The environmental regulation is based on...

In a market where firms with different characteristics decide upon both the level of emissions and their reports, we study the optimal audit policy for an enforcement agency whose objective is to minimize the level of emissions. We show that it is optimal to devote the resources primarily to the...

We study collaborative and noncollaborative projects that are supported by government grants. First, we propose a theoretical framework to analyze optimal decisions in these projects. Second, we test our hypotheses with a unique data set containing academic publications and research funds for...