This project aims to study the strategy of entrepreneurs to finance their experimentation given the presence of adverse selection in capital markets. It quantifies the effect of information frictions on firm value by structurally estimating a dynamic model that features volatile market valuation, strategic experimentation, and dynamic adverse selection.…Read More
The inaugural Wharton Innovation Doctoral Symposium brought together PhD candidates from all over the world and across a range of disciplines.…Read More
As VC firms have an acute interest in high-tech companies, they potentially bear substantial risk of patent litigation. In this project, we aim at looking into the following questions: how do ex-ante and ex-post patent litigation risks affect VC firms’ investment strategies and how those risks is propagated among all portfolio companies they have invested?…Read More
