Financial institutions are interconnected directly by holding debt claims against each other (the network channel), and they are also bound by the market liquidity in selling assets to meet debt liabilities when facing distress (the liquidity channel). The goal of our study is to investigate how...

In many retail settings such as fast-food chains, limited time “collect and win” games are often used to promote products and drive sales to the retail outlets. Unlike the more standard price discount or “buy-X-get-Y” promotional campaigns, the “collect and win” games create short...