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Using administrative data on Taiwanese lottery winners, this paper examines the effects of cash windfalls on entrepreneurship. We compare the start-up decisions of households winning more than 1.5 million NTD (50,000 USD) in the lottery in…
We present results of an experiment benchmarking a workforce training program against cash transfers for underemployed young adults in Rwanda. 3.5 years after treatment, the training program enhances productive time use and asset…
In this paper, I propose a new general equilibrium model that explains stylized facts about venture capitalists' impact on their portfolio firms. Venture capitalists can help increase firms' productivity, yet they face increasing entry…
An important area of anti-crisis public administration is the development of small businesses. They are an important part of the economy of developed and developing countries, provide employment for a significant part of the population and…
This paper shows that the timing of monetary transfers to low-income families affects students' cognitive performance on high-stakes standardized tests. We combine administrative records from the world's largest conditional cash transfer…
Crowdfunding offers inventors and entrepreneurs alternative access to resources with which they can develop and realize their ideas. Besides helping to secure capital, crowdfunding also connects creators with engaged early supporters who…
The purpose of this study is to examine the impact of board member composition and board members' social media presence on the performance of startups. Using multiple sources, we compile a unique dataset of about 500 US-based technology…
The purpose of this paper is to investigate if a country quality of governance moderates the effect of natural disasters on startup activity within that country. We test our hypotheses using a panel of 95 countries from 2006 to 2016. Our…
I study how a startup with uncertainty over product quality and no knowledge of the underlying diffusion network optimally chooses initial seeds. To ensure widespread adoption when the product is good while minimizing negative perceptions…
Crowdfunding has been used as one of the effective ways for entrepreneurs to raise funding especially in creative industries. Individuals as well as organizations are paying more attentions to the emergence of new crowdfunding platforms. In…
On Kickstarter only 36% of crowdfunding campaigns successfully raise sufficient funds for their projects. In this paper, we explore the possibility of redistribution of crowdfunding donations to increase the chances of success. We define…
Political campaigns are among the most sophisticated marketing exercises in the United States. As part of their marketing communication strategy, an increasing number of politicians adopt social media to inform their constituencies. This…
We study whether Fintech disrupts the banking sector by intensifying competition for scarce deposits funds and raising deposit rates. Using difference-in-difference estimation around the exogenous removal of marketplace platform investing…
We use a randomized experiment to compare a workforce training program to cash transfers in Rwanda. Conducted in a sample of poor and underemployed youth, this study measures the impact of the training program not only relative to a control…
Most online lotteries today fail to ensure the verifiability of the random process and rely on a trusted third party. This issue has received little attention since the emergence of distributed protocols like Bitcoin that demonstrated the…
The recent success of crowdfunding for supporting new and innovative products has been overwhelming with over 34 Billion Dollars raised in 2015. In many crowdfunding platforms, firms set a campaign threshold and contributions are collected…
Opportunities, such as access to education or family background, shape income inequality by influencing the chances of economic success. Unequal opportunities create uncertainty about whether success is merit- or luck-based. We examine how…
Why would a blockchain-based startup and its venture capital investors choose to finance by issuing tokens instead of equity? What would be their rates of return for each asset? This paper focuses on the liquidity difference between the two…
How can governments attract entrepreneurs and their businesses? The view that new business creation grows with the optimal level of government investments remains appealing to policymakers. In contrast with this active approach, we build a…
Propagating information to more people through their friends is becoming an increasingly important technology used in domains such as blockchain, advertising, and social media. To incentivize people to broadcast the information, the…