Publications

Incentives for Innovation: Bankruptcy, Corporate Governance, and Compensation Systems
with Florian Ederer
Handbook of Law, Innovation, and Growth, Edward Elgar Publishing (forthcoming)

The Relative Contributions of Private Information Sharing and Public Information Releases to Information Aggregation
with Darrell Duffie and Semyon Malamud
Journal of Economic Theory (forthcoming)

Performance-Sensitive Debt
with Bruno Strulovici and Alexei Tchistyi
Review of Financial Studies (forthcoming)

Information Percolation with Equilibrium Search Dynamics
with Darrell Duffie and Semyon Malamud
Econometrica (forthcoming)

Information Percolation
with Darrell Duffie and Gaston Giroux
American Economic Journal: Microeconomics (forthcoming)

Investment Reversibility and Agency Cost of Debt
Econometrica, vol. 76 (2008)

Information Percolation in Large Markets
with Darrell Duffie
American Economic Review P&P, vol. 97 (2007)

Working Papers

Motivating Innovation

Is Pay-for-Performance Detrimental to Innovation?
with Florian Ederer

Incentives and Creativity: Evidence from the Academic Life Sciences
with Pierre Azoulay and Joshua Graff Zivin

Governance Through Exit and Voice: A Theory of Multiple Blockholders
with Alex Edmans

Obfuscation, Learning, and the Evolution of Investor Sophistication
with Bruce Carlin

Work in Progress

``Macroeconomic Conditions and Agency Cost of Debt''
with Hui Chen.

``When Does Libertarian Paternalism Work?''
with Bruce Carlin and Simon Gervais.

``Information Percolation in Segmented Markets''
with Darrell Duffie and Semyon Malamud.