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Moonlighting Politicians: Motivation Matters!
We study self-selection into politics and commitment once in office of citizens with different abilities and motivations in a framework where moonlighting is allowed. We find that high-ability motivated (public-fit) ...
Do your Rivals Enhance your Access to Credit? Theory and Evidence
In this paper, we unveil a disregarded benefit of product market competition for small and medium enterprises (SMEs). In a model where firms are financed through collateralized bank loans and compete à la Cournot, we ...
In Medio Stat Virtus: Does a Mixed Economy increase Welfare?
Over the past few decades, social enterprises have grown remarkably. This paper investigates how social enterprises affect access to social services (e.g., education and health-care) and utilitarian welfare. To this end, ...
Pay package reshuffling and managerial incentives: A principal-agent analysis
By deferring a significant portion of managers' remuneration, managers bear the risk of their choices for a longer period of time and avoid excessive risk taking. The effectiveness of this mechanism is jeopardized if ...