In an ongoing relationship of delegated decision making, a principal consults a biased agent
to assess projects' returns. In equilibrium, the principal allows future bad projects to reward …

In this chapter we study dynamic incentive models in which risk sharing is endogenously
limited by the presence of informational or enforcement frictions. We comprehensively …

The authors study the internal organization of small business partnerships and focus on the
number of owners and ownership structure and the dynamics of these variables. They find …

I estimate a matching model of partnerships among startup owners to quantify the relative
importance of productivity gain, financing gain, and moral hazard to businesspartnership …