advantage in the final stage. We examine such momentum in conflict scenarios and investigate how valuable it must be to avoid a …, rent dissipation in the two-stage conflict is equal across party whether or not an individual obtains first-stage momentum … as useful conflict benchmarks, they dissipate additional expected contest rents. This additional rent-dissipative toll …

Asset management often involves a conflict of interests between investors and fund managers. A main goal of financial … regulators is to identify and mitigate this conflict. This article focuses on measures that may foster protection of investors … prevent their opportunistic behavior if not backed by a threat of punishment. Further, investors inefficiently sanction …