We model a firm's unlevered beta in terms of elementary microeconomic variables. The source of uncertainty is a shock to demand. A firm decides on capital before the shock, and on labor, output, and ...

This article analyzes the effect of product-market competition on managerial incentives. In contrast to Hart (1983a), I show that competition may actually exacerbate the incentive problem. The ...

This course is compulsory on the MSc in Social Innovation and Entrepreneurship. This course is not available as an outside option. The course will start with an introduction to economics for social ...