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Institutions and investors face the constant challenge of making accurate decisions and predictions regarding how best they should distribute their endowments. The problem of achieving an optimal outcome at minimal cost has been extensively…
An employer contracts with a worker to incentivize efforts whose productivity depends on ability; the worker then enters a market that pays him contingent on ability evaluation. With non-additive monitoring technology, the interdependence…
Entrepreneurship is often touted for its ability to generate economic growth. Through the creative-destructive process, entrepreneurs are often able to innovate and outperform incumbent organizations, all of which is supposed to lead to…
We consider an equity-linked contract whose payoff depends on the lifetime of policy holder and the stock price. We assume the limited capital for hedging and we provide with the best strategy for an insurance company in the meaning of so…
University engineering capstone projects involve sustained interaction among students, faculty, and industry sponsors whose objectives are only partially aligned. While capstones are widely used in engineering education, existing analyses…
A buyer and a seller bargain over the price of an object. Both players can build reputations for being obstinate by offering the same price over time. Before players bargain, the seller decides whether to adopt a new technology that can…
We investigate the optimal regulation of energy production in alignment with the long-term goals of the Paris Climate Agreement. We analyze the optimal regulatory incentives to foster the development of non-emissive electricity generation…
In many settings, multiple uninformed agents bargain simultaneously with a single informed agent in each of multiple periods. For example, workers and firms negotiate each year over salaries, and the firm has private information about the…
We deal with the optimal execution problem when the broker's goal is to reach a performance barrier avoiding a downside barrier. The performance is provided by the wealth accumulated by trading in the market, the shares detained by the…
We examine how the institutional context affects the relationship between gender and opportunity entrepreneurship. To do this, we develop a multi-level model that connects feminist theory at the micro-level to institutional theory at the…
Startups face a classic dilemma in innovation strategy: should they pursue cumulative, low-risk improvements or disruptive, high-risk breakthroughs? The Henderson and Clark framework suggests that architectural innovation, which…
Based on principal-agent theory and optimal contract theory, companies use the method of increasing executives' shareholding to stimulate collaborative innovation. However, from the aspect of agency costs between management and shareholders…
We study the most famous example of a large financial market: the Arbitrage Pricing Model, where investors can trade in a one-period setting with countably many assets admitting a factor structure. We consider the problem of maximising…
As financial institutions increasingly rely on machine learning models to automate lending decisions, concerns about algorithmic fairness have risen. This paper explores the tradeoff between enforcing fairness constraints (such as…
In our time cybersecurity has grown to be a topic of massive proportion at the national and enterprise levels. Our thesis is that the economic perspective and investment decision-making are vital factors in determining the outcome of the…
With the rapid development of Internet of Things (IoT) and artificial intelligence technologies, data has become an important strategic resource in the new era. However, the growing demand for data has exacerbated the issue of \textit{data…
We study a two-period moral hazard problem; there are two agents, with action sets that are unknown to the principal. The principal contracts with each agent sequentially, and seeks to maximize the worst-case discounted sum of payoffs,…
In the era of rapid Internet and social media platform development, individuals readily share their viewpoints online. The overwhelming quantity of these posts renders comprehensive analysis impractical. This necessitates an efficient…
Addressing climate change requires global coordination, yet rational economic actors often prioritize immediate gains over collective welfare, resulting in social dilemmas. InvestESG is a recently proposed multi-agent simulation that…
Startups is a popular phenomenon that has a significant impact on global economy growth, innovation and society development. However, there is still insufficient understanding about startups, particularly, how to start a new business in the…