Alternative index strategies” 1 are a new and very successful invest-ment innovation, recently
gaining many billions of dollars in new asset inflows. In general, these strategies represent …

Alternative index strategies have become widely adopted as “smart beta” or “alternative beta”
solutions to market cap-weighted indices. Investors can now select from a range of …

I evaluate the forced CEO turnover rate and quantify effects on shareholder value by estimating
a dynamic model. The model features learning about CEO ability and costly turnover. To …

Many individual investors, mutual funds, and institutions trade as if dividends and capital gains
are disconnected attributes, not fully appreciating that dividends result in price decreases. …

DataSpace: Decision Making in Perspective: An exploration of the conflict between classical
decision research and Decision Making in Action Skip navigation DataSpace About Contact …

Observers often criticize the Clean Air Act for being the product of overzealous lawmakers
who wrote a statute that sets unrealistic, unattainable regulatory goals. This Article argues …

In the beginning there were stories. People think in stories, or at least I do. My research in
the field now known as behavioral economics started from real life stories I observed while I …

Using hundreds of significant anomalies as testing portfolios, this paper compares the
performance of major empirical asset pricing models. The q-factor model and a closely related five-…

During the housing boom, financially constrained home buyers artificially inflated transaction
prices in order to draw larger mortgages. Using transaction data from Illinois that includes …

Social status concerns influence investors' decisions by driving a wedge in attitudes toward
aggregate and idiosyncratic risks. I model such concerns by emphasizing the desire to “get …