What would happen if the current U.S. campaign finance system, mostly based on private donations, were replaced by a public funding scheme of the same magnitude? It has been argued that public funding would deprive voters of useful information, but this can only be true if private donations are...

We present evidence on the labor supply of CEOs, and on whether family and professional CEOs differ on this dimension. We do so through a new survey instrument that allows us to codify CEOs' diaries in a detailed and comparable fashion, and to build a bottom-up measure of CEO labor supply. The...

We exploit a unique combination of administrative sources and survey data to study the match between firms and managers. The data includes manager characteristics, such as risk aversion and talent; firm characteristics, such as ownership; detailed measures of managerial practices relative to...

We study whether and how new CEOs reshape their organizations by increasing the firm’s “organizational capital.” We develop and externally validate a novel measure of organizational capital using a word-embedding model. We decompose organizational capital into four dimensions (i.e.,...

In a common agency game, several principals try to influence the behavior of an agent. Common agency games typically have multiple equilibria. One class of equilibria, called truthful, has been identified by Bernheim and Whinston and has found widespread use in the political economy literature....