Debt

Working Paper

Smart Buyers

We study transactions in which sellers fears being underpaid because their outside option is better known to the buyer. We rationalize various observed contracts as solutions to such smart buyer problems. Key to these solutions is granting the...Read more

Mike Burkart
Samuel Lee
01 January 2012

News

The New Bond Workouts

Bond workouts are a famously dysfunctional method of debt restructuring, ridden with opportunistic and coercive behavior by bondholders and bond...Read more

19 June 2017

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