Blockchain technology produced a new business model; one that enables companies to profit through creating and releasing open-source code. The decentralisation of business orgs creates new corporate ...

In this paper, we study the principal-agent problem. It is well known that in continuous-time, it is possible to prove the existence of an equilibrium (u*, S*) in a considerably general setting, and ...

A popular way to discipline the managers of companies or banks that got into trouble during the recent financial crisis has been to impose caps on managers' pay. Using a small extension of the ...