The American Economic Review, Volume 94

2-digit industry 3-digit adverse selection advertising analysis assets assumption average bank campaign cash coefficient college share column concave function contract contributions correlation cost cutoff deviation distribution dummies Economic employment entrepreneurs equation equilibrium estimated ex ante favors firms fraction function herd behavior high-skill agent household human capital incentives increase informational cascades inputs interest group investment Journal labor Lemma liquidity loan long-term project low-skill agent measure merit plan moral hazard nomic observed opportunity optimal output panel paper patents payoff percent period plants pool probability problem productivity project at date PROOF PROPOSITION put option qualified candidates referral regressions risk sample school grades sector short-term project social capital spillovers standard errors statistically suppliers swing voters Table tion trade credit trade reform v₁ variables volatility workers Yes Yes