• Introduction (12)
• Literature Review (17)
  • The Moral Hazard Literature (18)
  • The Adverse Selection Literature (21)
  • The Innovation Literature (22)
• The Model (25)
  • Game Setting (25)
    • Timing (27)
  • Full Information (28)
  • Adverse Selection (31)
  • Moral Hazard (31)
  • Adverse Selection plus Moral Hazard (37)
  • Intuitive Explanation of Result (46)
  • Special Cases (47)
  • Model Verification (48)
  • Future Extensions (49)
• Simulation and Comparative Statics (51)
  • Incubator Payments (53)
  • Incubator Utility (56)
• Conclusion (58)
• Extra Proofs (63)
  • Lemma 3.1 (63)
  • Lemma 3.2 (64)
• Finding Usable Values for Simulation Parameters (68)