In an RCT with US small businesses, we document that a large share of firms are not well-informed about bankruptcy. Many assume that bankruptcy necessarily entails the death of a business and do not know about Chapter 11 bankruptcy, where debts are renegotiated so that the business can continue...

"History keeps teaching one lesson that no one wants to learn: the guys out to save the world have a way of blowing it up. Satoshi Nakamoto created bitcoin to take all the tinkering out of the finance system, but then somehow in 2022 the blockchain industry's poser boy became a quant from Jane...