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To learn more about the professors whose work is posted here, click on their names to access biography pages where you’ll find links to more of their published research.

Antonio Bernardo

“MOTIVATING ENTREPRENEURIAL ACTIVITY IN A FIRM."

Fostering entrepreneurial activity within a firm is critical to its success, especially in high-growth industries. We consider the problem of motivating privately informed managers to engage in entrepreneurial activity to improve the quality of the firm’s investment opportunities. READ MORE

Bhagwan Chowdry

MICROFINANCE SHOWING NEW POTENTIAL IN EMERGING MARKETS. - WATCH

"ORGANIZATIONAL CAPITAL AND INTRAFIRM COMMUNICATION."

A dynamic model of production in which a firm’s output increases when its managers share ideas. Communication of ideas depends on the quality of the firm’s internal language. Firms with richer languages, i.e., more organizational capital, will have higher market values. READ MORE

"POSSIBILITY OF DYING AS A UNIFIED EXPLANATION OF (I) WHY WE DISCOUNT THE FUTURE, (II) GET WEAKER WITH AGE, AND (III) DISPLAY RISK-AVERSION."

A number of evolutionary theories have been proposed to explain the phenomenon of aging or senescence or why we get weak as we get older. Economists have also begun to explore the biological basis of preferences, such as discounting of future consumption (Rogers, 1994), and risk-aversion, that are usually taken as primitive (see a comprehensive article by Robson, 2002). In this paper, I formulate a simple and parsimonious evolutionary model that shows that because most species face a possibility of dying because of external factors, called extrinsic mortality in the biology literature, it can simultaneously explain (i) why we discount the future, ii) get weaker with age,1 and (iii) display risk-aversion. READ MORE

Stuart Gabriel

"REAL ESTATE, HOUSING AND THE U.S. ECONOMY – The Tail That Wags the Dog." - WATCH