List of Published Works


List of published work

The Jindal School of Management is proud of the intellectual contributions of its faculty and its ongoing commitment to research. A list of all published works for the last six years are provided here.

To request a copy of a particular work, forward a request to the appropriate contact:
Click on the area name to see articles

Academic Area Contact
Accounting Kathleen Milam
Finance / Managerial Economics Beverly Young
Information Systems Aylin Calisir
Operations Management Anna Fox
Marketing Malissa Cloer
Organizations, Strategy and International Management Jennifer Budd



Alejandro Rivera

Robust Contracts in Continuous Time, Econometrica, 2016
with Jianjun Miao



Alejandro Zentner

"Bricks, Clicks, Blockbusters, and Long Tails: How Video Rental Patterns Change as Consumers Move Online", Management Science, 2015
with Michael Smith and Cuneyd Kaya

The Effect of the Internet on Advertising Expenditures: An Empirical Analysis Using a Panel of Countries, Journal of Economics and Management Strategy, 2012

Program Substitutability in Network Television: Evidence from Argentina,, Information Economics and Policy, 2012
with Octavian Carare

Clash of the Titans: Does Internet Use Reduce Television Viewing?, The Review of Economics and Statistics, 2012
with Stan Liebowitz

Online Sales, Internet Use, Music Downloads, and the Decline of Retail Music Specialty Stores, Information Economics and Policy, 2008

Measuring the Effect of File Sharing on Music Purchases, The Journal of Law and Economics, 2006

File Sharing and International Sales of Copyrighted Music: An Empirical Analysis with a Panel of Countries, Berkeley Electronics, Topics in Economic Analysis & Policy, 2005



Alessio Saretto

Complex Securities and Reputation: Do Reputable Underwriters Produce Better Securities?, Review of Financial Studies, 2014
with John Griffin and Richard Lowery

Corporate Leverage, Debt Maturity and Credit Supply: the Role of Credit Derivatives, Review of Financial Studies, 2013
with Heather Tookes

Why Did Auction Rate Bond Auctions Fail during 2007-2008?, Journal of Fixed Income, 2010
with Baixiao Liu and John McConnell

Auction Failures and the Pricing of Auction Rate Securities, Journal of Financial Economics, 2010
with John McConnell

Cross-Section of Option Returns and Volatility, Journal of Financial Economics, 2009
with Amit Goyal

Option Strategies: Good Deals and Margin Calls, Journal of Financial Markets, 2009
with Pedro Santa-Clara



Anastasia Shcherbakova

The Value of Storage in South Korea's Energy Market: A Hotelling Approach, Applied Energy, 2014
with Kleit, A., Cho, J.,

Estimation of Environmental Effects of Photovoltaic Generation in Northwest China, Frontiers in Energy, 2013
with Ren, M

Effect of increased wind penetration on system prices in Korea's electricity markets, Wind Energy, 2013
with Kleit, A., Blumsack, S., Cho, J. and Lee, W

Restructuring and the retail residential market for power in Pennsylvania, Energy Policy , 2012
with Kleit, A., Chen, X.

Common failures of demand response, Energy, 2011

Holding Money Accountable, Government Finance Review , 2007



Arzu Ozoguz

The high volume premium: Cross-country evidence, Journal of Financial Economics, 2012
with Kaniel, Ron and Laura Starks

Do foreigners facilitate information transmission?, Journal of Financial Economics, 2012
with Bae, Kee-Hong, Hongpin Tan and Tony Wirjanto

Good times or bad times? Investors’ uncertainty and stock returns, Review of Financial Studies, 2009



Ayfer Gurun

Trade Liberalization, Import Penetration and Unionization: The U.S. Experience, Theoretical Economics Letters, 2016
with Geoffrey Booth

Earnings Smoothing, Momentum and Statistical Arbitrage: Global Evidence, Business and Economic Research, 2015
with Geoffrey Booth

Business strategy and financial consequences: The case of antidumping filings, Journal of International Financial Markets, 2013



Bernhard Ganglmair

Efficient Material Breach of Contract, Journal of Law, Economics, and Organization, 2017

Adversarial Decision-Making: Choosing between Models Constructed by Interested Parties, Journal of Law and Economics, 2016
with Luke Froeb and Steven Tschantz

Conversation With Secrets, RAND Journal of Economics, 2014
with Emanuele Tarantino

Patent Hold Up and Antitrust: How a Well-Intentioned Rule Could Retard Innovation, Journal of Industrial Economics, 2012
with Luke Froeb and Greg Werden



Carolyn Reichert

Do Water Towers Affect Property Values?, Journal of Property Tax Assessment and Administration, 2016
with Randall Guttery

. Closed End Investment Companies: Historic Returns and Investment Strategies, Financial Services Review, 1998
with J. Douglas Timmons

The Euro Disney Case: The Early Debacle, Journal of the International Academy for Case Studies, 1995
with Milhomme, Albert



David Cordell

Improving Your Practice with Ideas from Academia, Journal of Financial Service Professionals, 2015
with D. Cordell, T. Langdon, and K. Tacchino

Practical Planning Concepts from Academic Research, Journal of Financial Service Professionals, 2013
with D. Cordell, V. Grange, and T. Langdon

Useful Financial Planning Concepts from Academic Research, Journal of Financial Service Professionals, 2012
with D. Cordell, V. Grange, and T. Langdon

Overconfidence in Financial Planners, Financial Services Review, 2012
with D. Cordell, R. Smith, and A. Terry

Academic Research that Practitioners Can Use, Journal of Financial Service Professionals, 2012
with D. Cordell, V. Grange, and T. Langdon

Life Insurance and Alternative Investments, Journal of Financial Planning, 2011
with T. Langdon

Life Insurance as a Hedge Against Tax Uncertainty, Journal of Financial Planning, 2011
with T. Langdon

Health Care Planning and the New Reality, Journal of Financial Planning, 2011
with T. Langdon

Financial Planning Research: Articles That Practitioners Can Use, Journal of Financial Service Professionals, 2010
with T. Langdon

A GRAT Use of Life Insurance, Journal of Financial Planning, 2010
with T. Langdon

Games Rich People Play, Journal of Financial Planning, 2010
with T. Langdon

Achieving Sustainable Retirement Withdrawals: A Combined Equity and Annuity Approach, Journal of Financial Planning, 2010
with C. Lemoine and A. Gustafson

Avoiding a New Tax Trap in Business Owned Life Insurance, Journal of Financial Planning, 2010
with T. Langdon

Intraperson Consistency in Financial Risk Tolerance Assessment: Temporal Stability, Relationship to Total Score, and Effect on Criterion-related Validity, Journal of Business and Psychology, 2009
with M. Roszkowski and D. Cordell

Life Insurance in Times of Uncertainty, ournal of Financial Planning, 2009
with T. Langdon

The Elephant in the Life Insurance Industry, Journal of Financial Planning, 2009
with C. Lemoine

A Longitudinal Perspective on Financial Risk Tolerance: Rank-order and Mean Level Stability, International Journal of Behavioural Accounting and Finance, 2009
with M. Roszkowski

Long-Term Care Insurance and the High Net Worth Client, Journal of Financial Planning, 2009
with T. Langdon

Academic Research That Is Relevant to Financial Service Professionals, Journal of Financial Service Professionals, 2008
with T. Langdon, and C. Lemoine

Why You Are Not a Good Financial Planner, Journal of Financial Planning, 2008
with J. Shein

Beyond the Red Zone: Retirement and Long Term Planning, Journal of Financial Planning, 2008
with C. Lemoine

Fiduciary Focus: The Prudent Integration of Structured Settlements and Post-Settlement Trusts, The Brief (American Bar Association), 2008
with H. Strong

Dissipation of Life Insurance or Annuity Death Benefits, Journal of Financial Planning, 2008
with J. Tombs

Planning Possibilities with Health Care Savings Accounts, Journal of Financial Planning, 2007
with C. Lemoine

Automobile Insurance and the CFP® Certificant, Journal of Financial Planning, 2007
with C. Lemoine

Death of Life?, Journal of Financial Planning, 2007
with M. Finke, C. Lemoine

Bridging the Gap: Academic Research That Is Relevant to Practitioners, Journal of Financial Service Professionals, 2006
with T. Langdon, C. Lemoine

Business-owned Life Insurance: Opportunities and Pitfalls, Journal of Financial Planning, 2006
with T. Kurlowicz

Life Insurance Trusts: They’re Not Just for the Wealthy, Journal of Financial Planning, 2006

Structured Sales of Appreciated Property: A Space Age Use of Fixed Annuities, Journal of Financial Planning, 2006

Putting the Client First: Fees and Commissions in Variable Annuity Contracts, Journal of Financial Planning, 2005
with J. Tombs

A Multiple Horizon Approach to Asset Allocation in the Retirement Portfolio, Journal of Financial Planning, 2005

Planning Considerations for Personal Injury Settlement Recipients, Journal of Financial Planning, 2005
with J. Tombs

The Comparability of Husbands and Wives in Financial Risk Tolerance, Journal of Personal Finance , 2004
with M. Roszkowski, M. Delaney

Death Benefits: Rule of Thumb Fallacies, Journal of Financial Planning, 2004

Insurance, Ethics, and the Golden Rule, Journal of Financial Planning, 2004

Risk Tolerance: Investments versus Insurance, Journal of Financial Planning, 2004

A Moving Experience in Financial Planning, Journal of Financial Planning, 2003

Structured Settlements Meet Modern Portfolio Theory, Journal of Financial Planning, 2003

The Enemies of Capitalism, Journal of Financial Planning, 2003

Risk Tolerance in Two Dimensions, Journal of Financial Planning, 2002

A 9-11 Wake-up Call, Journal of Financial Planning, 2002

Gambling, Insurance, and Value Creation, Journal of Financial Planning, 2001

Investment Advising in Good Times and Bad, Journal of Financial Service Professionals, 2001

RiskPACK: How To Evaluate Risk Tolerance,”, Journal of Financial Planning, 2001

Private Split-Dollar Life Insurance: Opportunities And Pitfalls, Journal of Financial Planning, 2001

Learn Before Your Earn, Professional Agent, 1997

Personal Responsibility for Retirement Planning, Journal of the American Society of CLU & ChFC, 1995

"Live Long and Prosper, Financial Planning, 1993

Communication Barriers between Bankers and their Customers, Journal of Retail Banking, 1985
with W. Staats and S. Golen

Risk Assessment in the Product Portfolio: A Quantitative Approach, Developments in Marketing Science, 1983
with S. Grimes, and M. Petruny

An Examination of Pension Policy, Louisiana Business Review, 1982

A Profitability Analysis of Louisiana Banks, Louisiana Business Review, 1981

Louisiana Bank Performance Continues to Improve`, Louisiana Banker, 1981
with J. Wansley

Pooling of Funds under Regulation Q, The Collegiate Forum, 1979

Expansion and Performance of Multibank Holding Companies in Texas, Federal Reserve Bank of Dallas Voice, 1979
with C. Smaistrla



David Mauer

Optimal Priority Structure, Capital Structure, and Investment, 2011

Corporate Cash Holdings and CEO Compensation Incentives, 2011

Stockholder and bondholder wealth effects of CEO incentive grants Matthew T. Billett, David C. Mauer and Yilei Zhang Financial Management 2010, 39( ): 463-487, 2010



Feng Zhao

Trading activity and price behavior in Chinese agricultural futures markets, Finance Research Letters, 2016

Subprime Mortgage Defaults and Credit Default Swaps, Journal of Finance , 2015
with Eric Arentsen, Brian Rosenbund, Harold Zhang

Probability weighting functions implied in options prices, Journal of Financial Economics , 2013
with Valery Polkovnichenko

Nonparametric Estimation of State-Price Densities Implicit in Interest Rate Cap Prices", Review of Financial Studies , 2009
with Haitao Li

Can the Random Walk Model be beaten in Out-of-Sample Density Forecasts: Evidence from Intraday Foreign Exchange Rates, Journal of Econometrics , 2007
with Yongmiao Hong and Haitao Li

Interest Rate Caps “Smile” Too! But Can the LIBOR Market Models Capture the Smile?", Journal of Finance , 2007
with Robert Jarrow and Haitao Li

Downside Loss Aversion and Portfolio Management, Management Science , 2006
with Robert Jarrow

Unspanned Stochastic Volatility: Evidence from Hedging Interest Rate Derivatives", Journal of Finance , 2006
with Haitao Li

Out-of-Sample Performance of Discrete-Time Spot Interest Rate Models, Journal of Business and Economic Statistics , 2004
with Yongmiao Hong and Haitao Li



Gary Bolton

The influence of potential on wages and effort, Experimental Economics, 2016
with Peter Werner

Social responsibility promotes conservative risk behavior, European Economic Review, 2015
with Bolton, Axel Ockenfels and Julia Stauf

Social interaction promotes risk taking in a stag hunt game, German Economic Review, 2015
with Christoph Feldhaus and Axel Ockenfels

How Werner Güth’s ultimatum game shaped our understanding of social behavior, Journal of Economic Behavior and Organization, 2014
with Eric van Damme, Ken Binmore, Alvin E. Roth, Larry Samuelson, Eyal Winter, Bolton, Axel Ockenfels, Martin Dufwenberg, Georg Kirchsteiger,! Uri Gneezy, Martin G. Kocher, Matthias Sutter, Alan Sanfey, Hartmut Kliemt, Reinhard Selten, Rosemarie Nagel, Ofer H. Azar.

Does laboratory trading mirror behavior in real world markets? Fair bargaining and competitive bidding on eBay, Journal of Economic Behavior and Organization, 2014
with Bolton and Axel Ockenfels

Engineering Trust: Reciprocity in the production of reputation information, Management Science, 2013
with Bolton, Ben Greiner and Axel Ockenfels

Managers and students as newsvendors, Management Science, 2012
with Bolton, Axel Ockenfels and Ulrich W. Thonemann

How do coalitions get built? Evidence from an extensive form coalition game with and without communication, International Journal of Game Theory, 2012
with Bolton and Jeannette E, Brosig-Koch

Behavioral economic engineering, Journal of Economic Psychology, 2012
with Bolton and Axel Ockenfels

Information value and externalities in reputation building, International Journal of Industrial Organization, 2010
with Bolton, Axel Ockenfels and Felix Ebeling

Towards an Interdisciplinary perspective of training intervention for negotiations: Developing strategic negotiation support contents, Decision Support Systems, 2010
with Park, Sungsoon, Bolton, Ling Rothrock and Jeannette Brosig,

Betrayal aversion: Evidence from Brazil, China, Oman, Switzerland, Turkey, and the United States: Comment, American Economic Review, 2010
with Bolton and Axel Ockenfels

Testing models and internalizing context: A comment on Vernon Smith’s ‘Theory and experiment: What are the questions?, ournal of Economic Behavior and Organization, 2010

The limits of trust, eTrust, 2009
with Bolton, and Axel Ockenfels

Testing and modeling fairness motives, Rationality, Markets and Morals, 2009
with Bolton and Axel Ockenfels

ow social reputation networks interact with competition in online trading: An experimental study, ournal of Management Information Systems, 2008
with Bolton, Claudia Loebbecke and Axel Ockenfels

Estimating the influence of fairness on bargaining behavior, Management Science, 2008
with DeBruyn, Arnaud and Bolton,

Learning-by-doing in the newsvendor problem: A Laboratory investigation of the role of experience and feedback, Manufacturing and Services Operations Management, 2008
with Bolton and Elena Katok

Inequality aversion, efficiency, and maximin preferences in simple distribution experiments, American Economic Review, 2006
with Bolton and Axel Ockenfels

A laboratory study of the benefits of including uncertainty information in weather forecasts, Weather and Forecasting, 2006
with Roulston, Mark, Bolton, Andrew Kleit, Addison Sears-Collins

Fair procedures: Evidence from games involving lotteries, Economics Journal, 2005
with Bolton, Jordi Brandts and Axel Ockenfels

Cooperation among strangers with limited information about reputation, Journal of Public Economics, 2005
with Bolton, Elena Katok and Axel Ockenfels

A stress test of fairness measures in models of social utility, Economic Theory, 2005
with Bolton and Axel Ockenfels

How effective are electronic reputation mechanisms? An experimental investigation, Management Science, 2004
with Bolton, Katok and Ockenfels,

How communication links influence coalition bargaining: A laboratory investigation, Management Science, 2003
with Bolton, Kalyan Chatterjee and Kathleen McGinn

Reanalyzing ultimatum bargaining: Comparing nondecreasing curves without shape constraints, Journal of Business and Economic Statistics, 2002
with Fong, Duncan K. H., Scott E. Pammer, Steven F. Arnold and Bolton

Learning versus punishment in ultimatum bargaining, Games & Economic Behavior, 2001
with Abbink, Klaus, Bolton, Karim Sadrieh and Fang-Fang Tang

ERC: A theory of equity, reciprocity and competition, American Economic Review, 2000
with Bolton and Axel Ockenfels,

An experimental test of the crowding out hypothesis: The nature of beneficent behavior, Journal of Economic Behavior and Organization, 1998
with Bolton and Elena Katok

Measuring motivation in the reciprocal responses observed in a dilemma game, Experimental Economics, 1998
with Bolton, Jordi Brandts and Axel Ockenfels

Reinterpreting arbitration's narcotic effect: An experimental investigation, Games and Economic Behavior, 1998
with Bolton and Elena Katok

Strategy and equity: An ERC-analysis of the Güth-van Damme game, Journal of Mathematical Psychology, 1998
with Bolton and Axel Ockenfels

Dictator game giving: Rules of fairness versus acts of kindness, International Journal of Game Theory, 1998
with Bolton, Elena Katok and Rami Zwick

Analyzing ultimatum bargaining: A Bayesian approach to the comparison of two potency curves under shape constraints, Journal of Business and Economics Statistics, 1997
with Duncan K. H. Fong and Bolton

Anonymity versus punishment in ultimatum bargaining, Games and Economic Behavior, 1995
with Bolton and Rami Zwick

An experimental test for gender differences in beneficent behavior, Economics Letters, 1995
with Bolton and Elena Katok

A comparative model of bargaining: Theory and evidence, American Economic Review, 1991



Greg Durham

Point-Spread Wagering Markets’ Analogue to Realized Return in Financial Markets, Journal of Sports Economics, 2012
with Muku Santhanakrishnan

The Relative Importance of Strength versus Weight in Processing New Information in the College Football Wagering Market, Journal of Prediction Markets, 2008
with Muku Santhanakrishnan

The Impact of Sentiment on Point Spreads in the College Football Wagering Market, Journal of Prediction Markets, 2008
with Tod Perry

Fraud Education for Business Majors, Journal of the Academy of Business Education, 2006
with Bonita K. Peterson Kramer

The Market Impact of Trends & Sequences on Performance: New Evidence, Journal of Finance, 2005
with Michael Hertzel and J. Spencer Martin



Han Xia

Do Lenders Still Monitor When They can Securitize Loan, he Review of Financial Studies, 2014
with Yihui Wang

Can Investor-Paid Credit Rating Agencies Improve the Information Quality of Issuer-Paid Rating Agencies?, The Journal of Financial Economics, 2014

The Economics of Solicited and Unsolicited Credit Ratings, The Review of Financial Studies, 2014
with Paolo Fulghieri and Gunter Strobl



Harold Zhang

Short-run and Long-run Consumption Risks, Dividend Processes and Asset Returns, Review of Financial Studies, 2016
with Jun Li

Subprime Mortgage Defaults and Credit Default Swaps, Journal of Finance, 2015
with Eric Arentsen, David Mauer, Brian Rosenlund, Feng Zhao

Capital Gains Taxes and Stock Return Volatility, Journal of American Taxation Association, 2013
with Zhonglan Dai, Douglas A. Shackelford, and Harold H. Zhang

Does Financial Constraint Affect Shareholder Taxes and the Cost of Equity Capital?, The Accounting Review, 2013
with Zhonglan Dai, Douglas A. Shackelford, Harold H. Zhang, and Chongyang Chen

Financial Networks and Trading in Emerging Bond Markets, Journal of Financial Markets, 2013
with G. Geoffrey Booth, Umit G. Gurun

Fear of the Unknown: Familiarity and Economic Decisions, Review of Finance, 2011
with H. Henry Cao, Bing Han, David Hirshleifer, and Harold H. Zhang

Stock Returns and the Volatility of Liquidity, Journal of Financial and Quantitative Analysis, 2010
with Joao Pereira and Harold H. Zhang

Capital Gains Taxes and Asset Prices: Capitalization or Lock-in?, Journal of Finance, 2008
with Zhonglan Dai, Edward Maydew, Douglas A. Shackelford

Model Uncertainty, Limited Market Participation and Asset Prices, Review of Financial Studies, 2005
with H. Henry Cao, Tan Wang

External Habit and the Cyclicality of Expected Stock Returns, Journal of Business, 2005
with Thomas Tallarini, jr

Optimal Consumption and Portfolio Choices with Risky Housing and Borrowing Constraints, Review of Financial Studies, 2005
with Rui Yao

Maximizing Long-Term Wealth Accumulation: It's not just about What investments to make, but also Where to make them, Research Dialogue, 2005
with Robert Dammon, James Poterba, Chester Spatt

Comment on `Household Portfolio Choices in Taxable and Tax-Deferred Accounts: Another Puzzle?, European Finance Review, 2004

Optimal Asset Location and Allocation with Taxable and Tax-Deferred Investing, Journal of Finance, 2004
with Robert M. Dammon, Chester S. Spat

Capital Gains Taxes and Portfolio Rebalancing, Research Dialogue, 2003
with Robert Dammon, Chester Spatt

Upstream Intergenerational Transfers, Southern Economic Journal, 2002
with Frank A. Sloan, Harold H. Zhang and Jingshu Wang

Optimal Consumption and Investment with Capital Gains Taxes, Review of Financial Studies, 2001
with Robert M. Dammon, Chester S. Spatt

Explaining Bond Returns in Heterogeneous Agent Models: The Importance of Higher Order Moments, Journal of Economic Dynamics and Control, 2000

Fixed costs and asset market participation, Revista De Analisis Economico, 2000
with Amir Yaron

An Investigation of the Risk and Return Relation at Long Horizons, Review of Economics and Statistics, 1999
with Paul Harrison

Overparameterization in the Seminonparametric Density Estimation, Economics Letters, 1998
with Ming Liu

Endogenous Borrowing Constraints with Incomplete Markets, Journal of Finance, 1997

Endogenous Short Sale Constraint, Stock Prices and Output Cycles, Macroeconomic Dynamics, 1997

Tort Liability and Obstetrician's Care Levels, International Review of Law and Economics, 1997
with Frank Sloan, Stephen Entman, Bridget Reilly, Cheryl Glass, Gerald Hickson and Harold H. Zhang)

Volume, Volatility, and Leverage: A Dynamic Analysis, Journal of Econometrics, 1996
with George Tauchen, Harold Zhang, and Ming Liu



Jeffrey Manzi

Investing in High-Risk Mutual Funds: Is it Worth the Risk?, Journal of Business and Behavioral Science, 2016
with Rayome, David L.

The Effectiveness of Mastery Learning in Business Education, Review of Business Research, 2014
with Rayome, David L.



Jun Li

Short-run and long-run consumption risks, dividend processes, and asset returns, Review of Financial Studies, 2016
with Harold H. Zhang

Explaining Momentum and Value Simultaneously, Management Science, 2016

Labor Force Heterogeneity and Asset Prices: The Importance of Skilled Labor, Review of Financial Studies, 2016
with Frederico Belo, Xiaoji Lin, Xiaofei Zhao

Asset Pricing in Production Economies with Extrapolative Expectations, Journal of Monetary Economics, 2015
with David Hirshleifer & Jianfeng Yu

Government spending, political cycles and the cross-section of stock returns, Journal of Financial Economics, 2013
with Frederico Belo and Vito Gala

Investor attention, psychological anchors, and stock return predictability, Journal of Financial Economics, 2012
with Jianfeng Yu



Kelsey Wei

Uncommon Value: The Investment Performance of Contrarian Funds, Management Science, 2015
with Russ Wermers and Tong Yao

Analyst Recommendations, Mutual Fund Herding, and Overreaction in Stock Prices, Management Science, 2014
with Nerissa Brown and Russ Wermers

A Glimpse behind a Closed Door: The Investment Value of Buy-Side Research and Its Effect on Fund Trades and Performance, Journal of Accounting Research, 2014
with Michael Rebello

Cross-Border Mergers and Differences in Corporate Governance, International Review of Finance, 2013
with Laura T. Starks

Foreign Exchange Exposure and Financial Distress, Financial Management, 2013
with Laura T. Starks

Insider Trading and Option Grant Timing in Response to Fire Sales (and Purchases) of Stocks by Mutual Funds, ournal of Accounting Research, 2011
with Ashiq Ali and Yibin Zhou

Participation Costs and the Sensitivity of Fund Flows to Past Performance, Journal of Finance, 2007
with Jennifer Huang and Hong Yan

Conflicts of Interest in Sell-Side Research and the Moderating Role of Institutional Investors, Journal of Financial Economics, 2007
with Alexander Ljungqvist, Felicia Marston, Laura Starks and Hong Yan



Kenneth Smith

Sudden equity price declines and the flight-to-safety phenomenon: additional evidence using daily data, Journal of Economcs and Finance, 2012
with Joe Brocato

Applying the Inclan-Tiao breakpoint algorithm in the search for the flight-to-safety phenomenon, Applied Financial Economics 20 5, 2010
with Joe Brocato



Kyle Hyndman

Efficiency or Competition? A Structural Analysis of Canada’s AWS Auction and the Set-Aside Provision, Production and Operations Management, 2015
with Christopher Parmeter

Do Lottery Payments Induce Savings Behavior? Evidence from the Lab, Journal of Public Economics, 2015
with Jonathan Guryan, Emel Filiz-Ozbay, Melissa Kearney and Erkut Ozbay

The Effect of Endogenous Timing on Coordination Under Asymmetric Information: An Experimental Study, Games and Economic Behavior, 2014
with Bogachan Celen & Francesco Brindisi

An Experimental Study of Coordination in Games with Strategic Complementarities: Long Run vs. Short Run Relationships, Production and Operations Management, 2014
with Santiago Kraiselburd and Noel Watson

Aligning Capacity in Supply Chains When Demand Forecasts Are Private Information: Theory and Experiment, Manufacturing and Service Operations Management, 2013
with Santiago Kraiselburd and Noel Watson

Rent Seeking With Regretful Agents: Theory and Experiment, Journal of Economic Behavior & Organization, 2012
with Erkut Ozbay and Pacharasut Sujarittanonta

An Experiment of Social Learning With Endogenous Timing, Review of Economic Design, 2012
with Bogachan Celen

Social Learning through Endogenous Information Acquisition: An Experiment, Management Science, 2012
with Bogachan Celen

Convergence: An Experimental Study of Teaching and Learning in Repeated Games, Journal of the European Eco- nomic Association, 2012
with Wolf Ehrblatt, Erkut Ozbay and Andrew Schotter

Belief Formation: An Experiment With Outside Observers, Experimental Economics, 2012
with Wolf Erhblatt, Erkut Ozbay and Andrew Schotter

Consumer Information in a Market for Expert Services, Journal of Economic Behavior & Organization, 2011
with Saltuk Ozerturk

Repeated Bargaining with Reference-Dependent Preferences, nternational Journal of Game Theory, 2011

Strategic Interactions and Belief Formation: An Experiment, Applied Economics Letters, 2010
with Antoine Terracol and Jonathan Vaksmann

Competition and Inter-Firm Credit: Theory and Evidence from Firm-Level Data in Indonesia, Journal of Development Economics, 2010
with Giovanni Serio

Learning and Sophistication in Coordination Games, Experimental Economics, 2009
with Antoine Terracol and Jonathan Vaksmann

Disagreement in Bargaining: An Empirical Analysis of OPEC, International Journal of Industrial Organization, 2008

Coalition Formation with Binding Agreements, Review of Eco- nomic Studies, 2007
with Debraj Ray



Liping Ma

The Foreclosure Crisis: Did Wall Street Pratice Predatory Lending or Did Households Overreach?, The Regional Economist , 2011
with Emmons, Fogel, Lee, Yeager and Rorie



Malcolm Wardlaw

The Costs of Closing Failed Banks: A Structural Estimation of Regulatory Incentive, Review of Financial Studies , 2015
with Ari Kang and Richard Lowery

Financing Constraints and Workplace Safety, Journal of Finance, 2015
with Jonathan Cohn



Michael Rebello

Horses for courses: Matching fund managers with organizational structures, Journal of Financial and Quantitative Analysis, 2017
with Tom Noe and YuFeng Han

Spillovers from good-news and other bankruptcies: Real effects and price responses, Journal of Financial Economics, 2017
with Nina Baranchuk

A glimpse behind a closed door: The long-term investment value of buy-side research and its effect on fund trades and performance, Journal of Accounting Research, 2014
with Kelsey Wei

Sell-side analyst research and stock comovement, Journal of Accounting Research, 2014
with Volkan Muslu and Yexiao Xu

Private information and bargaining power in venture capital financing, Journal of Economics and Management Strategy, 2014
with Yrjo Koskinen and Jun Wang

The bright side of myopic, uninformed, and passive external finance, Management Science, 2012
with T. Noe, M. Rebello, and T. Reitz

Optimal corporate governance and compensation policy in a dynamic world, Review of Financial Studies, 2012
with T. Noe

Learning to bid: The design of auctions under uncertainty and adaptation, Games and Economic Behavior, 2012
with . Noe and M. Rebello, and J. Wang

On the Structure of Analyst Research Portfolios and Forecast Accuracy, Journal of Accounting Research, 2009
with O. Kini, S. Mian and A. Venkateswaran

Board Structures Around the World: An Experimental Investigation, Review of Finance, 2008
with A. Gillette and T. Noe

Experimental Evidence on Coverage Choices and Contract Prices in the Market for Corporate Insurance, Experimental Economics, 2008
with G. Goswami and M. Grace

The Evolution of Security Design, Journal of Finance, 2006
with T. Noe and J. Wang

Buying the Debt of Distressed Retailers: A Tale of Two Takeovers, Journal of Economics and Management Strategy, 2006
with T. Noe

Corporate Board Composition, Protocols, and Voting Behavior: Experimental Evidence, Journal of Finance, 2003
with A. Gillette and T. Noe

Corporate Financing: An Artificial Agent-Based Analysis, Journal of Finance, 2003
with T. Noe and J. Wang

Reputation in the Market for Distressed-Firm Debt, ournal of Financial and Quantitative Analysis, 2003
with T. Noe

Structuring International Cooperative Ventures: Bargaining, Equity Participation, and Private Information, Review of Financial Studies, 2002
with T. Noe and M. Shrikhande

Debt Financing and Myopia: Cause or Consequence?”, Research in Banking and Finance, 2000
with G. Goswami and T. Noe

Renegotiation, Investment Horizons, and Managerial Discretion, Journal of Business, 1997
with T. Noe

Cash Flows and Debt Maturity, Economica, 1997
with G. Goswami and Tom Noe

Collusion in Uniform-Price Auctions: Experimental Evidence and Implications for Treasury Auctions, Review of Financial Studies, 1996
with G. Goswami, Tom Noe, and M. Rebello

Asymmetric Information, Managerial Opportunism, Financing and Payout Policies, Journal of Finance, 1996
with T. Noe

“Managerial Rents and Optimal Regulatory Intervention in Troubled Banks, Journal of Banking and Finance, 1996
with T. Noe, M. Rebello, and L. Wall

Debt Financing Under Asymmetric Information, Journal of Finance, 1995
with G. Goswami, Tom Noe, and M. Rebello

Adverse Selection Costs and the Firm's Financing and Insurance Decisions, Journal of Financial Intermediation, 1995

Consumer Activism, Producer Groups, and Production Standards, Journal of Economic Behavior and Organization, 1995
with T. Noe

The Dynamics of Business Ethics and Economic Activity, American Economic Review, 1994
with T. Noe

Rent Division, Restructuring, and Managerial Risk-Taking: A Strategic Bargaining Model, Journal of Economics and Management Strategy, 1993
with T. Noe

Financing and the Demand for Corporate Insurance: A Sequential Signaling Game, The Geneva Papers on Risk and Insurance Theory, 1993
with M. Grace

Security Issue Announcement Effects When Firms Use Multiple Signals, Economics Letters, 1993

Adverse Selection, Contract Design and Investment Distortion, Journal of Financial Intermediation, 1992
with T. Noe



Moran Blueshtein

Gonadotropin-releasing hormone analogue as sole lutal support in antagonist-based assisted reproductive technology cycles, Fertility and Sterility, 2017
with Itai Bar Hava, Hadas Ganer Herman, Yeela Omer, Gila Ben David



Nina Baranchuk

Motivating Innovation in Newly Public Firms, Journal of Financial Economics, 2014
with Robert Kieschnick, Rabih Moussawi

The Economics of Super Managers, Review of Financial Studies, 2011
with Glenn MacDonald and Jun Yang

Renegotiation-Proof Contracting, Disclosure, and Incentives for Efficient Investment, Journal of Economic Theory, 2010
with Nina Baranchuk, Philip H. Dybvig, and Jun Yang

Consensus in Diverse Corporate Boards, Review of Financial Studies, 2009
with Philip Dybvig

Organizing Multiple Related Tasks into Jobs: Diversification vs. Competition, Economics Letters, 2008

Assessing the Role of Option Grants to CEOs: How Important is Heterogeneity?, Journal of Empirical Finance, 2008
with Siddhartha Chib,

Corporate Working Capital Management: Determinants and Consequences, International Journal of Managerial Finance, 2006
with Robert Kieschnick, Rabih Moussawi



Peter Lewin

Capital Valuation, What is it and Why Does it Matter? Insights from Austrian Capital Theory, Journal of Business Valuation and Economic Loss Analysis, 2017

Value and Capital: Austrian Capital Theory, Retrospect and Prospect, Review of Austrian Economics, 2017
with Nicolas Cachanosky

Ludwig Von Mises’s Approach to Capital As a Bridge Between Austrian and Institutional Economics, Journal of Institutional Economics, 2016
with Eduard Braun and Nicolas Cachanosky

A Financial Framework for Understanding Macroeconomic Cycles: The Structure of Production is Relevant, Journal of Financial Economic Policy, 2016
with Nicolas Cachanosky

Policy Design and Execution in a Complex World, Advances in Austrian Economics, 2016

Financial Foundations of Austrian Business Cycle Theory, Advances in Austrian Economics , 2016
with Nicolas Cachanosky

An Empirical Application of the Eva® Framework to Business Cycles, Review of Financial Economics, 2016
with Nicolas Cachanosky

Orders, Orders Everywhere, … On Hayek’s The Market and Other Orders, Cosmos and Taxis, 2015
with Paul Lewis

Plan-Coordination: Who Needs it? , Review of Austrian Economics, 2015

Orders, Orders Everywhere, ... On Hayek's The Market and Other Orders, Cosmos and Taxis, 2015
with Paul Lewis

Plan-Coordination: Who Needs it?, Review of Austrian Economics, 2015

Roundaboutness is not a Mysterious Concept: A Financial Application to Capital Theory, Review of Political Economy, 2014
with Nicolas Cachanosky

The Meaning and the Implications of Heterogeneity for Social Science Research, Studies in Emergent Order, 2014

Roundaboutness is not a Mysterious Concept: A Financial Application to Capital Theory, Review of Political Economy, 2014
with Nicolas Cachanosky

Entrepreneurial Opportunity as the Potential to Create Value, Review of Austrian Economics, 2013

The Subprime Crisis, Quarterly Journal of Austrian Economics, 2012
with Adrian Ravier

The Capital Based View of the Firm, Review of Austrian Economics, 2011

Heterogeneous Human Capital, Uncertainty, and the Structure of Plans: A Market Process Approach to Marriage and Divorce, Review of Austrian Economics , 2008
with Steven Horwitz

Facts, Values, and the Burden of Proof, Independent Review , 2008

Creatvity or Coercion: Alternative Perspectives on Rights to Intellectual Property , Journal of Business Ethics , 2008

The Capital Idea and the Scope of Economics, Review of Austrian Economics , 2005

“Entrepreneurship and the Defense of Capitalism: An Examination of the Work of Israel Kirzner, Journal des Economistes et des Etudes Humaines, 2002

The Development of Austrian Economics: Revisiting the Neoclassical Divide, Review of Austrian Economics , 2001

The Market Process and the Economics of the QWERTY: Two Views, Review of Austrian Economics , 2001

Rent and Resources: A Market Process Perspective, Entrepreneurship and the Firm: Austrian Perspectives on Economic Organization, 2001
with Steven E. Phelan

Arriving at a Strategic Theory of the Firm, International Journal of Management Reviews, 2000
with Steven E. Phelan

My Teacher and his Legacy,” Contribution to: “Professor Lachmann (1906 – 1990): Scholar, Teacher, and Austrian School Critic of Late Classical Formalism in Economics, merican Journal of Economics and Sociology, 2000

William Hutt and the Economics of Apartheid, Constitutional Political Economy, 2000

An Austrian Theory of the Firm, Review of Austrian Economics, 2000
with Steven E. Phelan

Firms, Strategies, and Resources: Contributions from Austrian Economics, The Quarterly Journal of Austrian Economics, 1999
with Steven E. Phelan

Paradox in Project-Based Enterprise: What Paradox,?, California Management Review, 1999

The Firm, Money and Economic Calculation, American Journal of Economics and Sociology, 1998

Hayekian Equilibrium and Change , Journal of Economic Methodology, 1997

Captial and Time: Variations on a Hicksian Theme, Advances in Austrian Economics , 1997

Capital in Disequilibrium: A Reexamination of the Capital Theory of Ludwig M. Lachmann, History of Political Economy, 1997

Rothbard and Mises on Interest: An Exercise in Theoretical Purity, Journal of the History of Economic Thought, 1997

Time Complexity and Change: Ludwig M. Cintributions to the Theory of Capital, Advances in Austrian Economics , 1996

Methods and Metaphors in Capital Theory, Advances in Austrian Economics, 1995

Capital Theory, Companion to Austrian Economics, 1994
with Edward Elgar

Knowledge, Expectations and Capital: The Economics of Ludwig M. Lachmann, Advances in Austrian Economics, 1994

Comment: Austrian Economics and the Future of Macroeconomics, Austrian Economics, 1991

Economic and Sociological Views of Discrimination in Labor Markets: Persistence or Demise?, Sociological Spectrum, 1989
with Paula England

Long Run Versus Short Run Cost of Electric Power Interruptions: A Cautionary Note, Energy Journal, 1986
with Steve G. Parsons

The Prohibitive Cost of Apartheid, The Intercollegiate Review, 1986

Comment: Competitive Money, CATO Journal, 1983

Externalities: Socail Cost Versus Strict Liability , CATO Journal , 1982

Perspectives on the Cost of Inflation, Southern Economic Journal, 1982

On the Definition of Inflation: Reply to Professor Botha, South African Journal of Economics, 1978

Reply to Mr. Mittermaier, South African Journal of Economics, 1978

Rejoinder to Professor Botha, South African Journal of Economics, 1978

Money, Inflation and Economic Growth, The Investment Analysts Journal, 1978

Subsidies and Regulation in Medicine, South African Journal of Hospital Medicine, 1978

Inflation, Common Fallacies and Real Issues, Fact and Opinion Papers, 1978

Indexation and Inflation: A Note, South African Journal of Economics, 1977

On the Definition and Measurement of Inflation, South African Journal of Economics, 1977

The Black-White Wage Gap: 1952-1969, South African Journal of Economics, 1976

The Essential Role of Money in the Economy, South African Journal of Economics, 1972

A Tentative Consideration of the Methods and Efficiency of South African Monetary Policy in Recent Years, The South African Banker, 1971



Randall Guttery

Do Water Towers Affect Property Values?, Journal of Property Tax Assessment and Administration, 2017
with Carolyn Reichert

Using a Cannabis Real Estate Investment Trust to Capitalize a Marijuana Business, The Journal of Real Estate Portfolio Management, 2017
with Poe, S.L.

Stranger Originated Life Insurance: Controversy and Proposal for Market-Based Solutions, Journal Of Insurance Issues, 2012
with Poe, S. L. , & He, E.

Life Settlements: Implications for Investment Real Estate, Real Estate Law Journal, 2005

Growing Pains: FM 2499 Case Study, Tierra Grande Journal, 2004

Mass Appraisal: An Introduction to Multiple Regression Analysis for Real Estate Valuation, The Journal of Real Estate Practice and Education, 2004
with S., Sirmans, C. F. , & Benjamin, J.

An Empirical Investigation of Federal Wetlands Regulations and Flood Delineation: Implications for Residential Property Owners, Journal of Real Estate Research, 2004
with S., Sirmans, C. F. , & Poe, S. L.

The Effects of Subdivision Design on Housing Values: The Case of Alleyways, Journal of Real Estate Research, 2002

The Coming Downsizing of Real Estate: Implications of Technology, New Zealand Real Estate, 2000
with Baen, J.

A Federal Wetlands Regulations: Restrictions on the Nationwide Permit Program and the Implications for Residential Property Owners, American Business Law Journal, 2000
with Sirmans, C. F. , & Poe, S. L.

Wetlands Regulations: Compliance for Residential Property Homeowners, Real Estate Law Journal, 2000
with Poe, S. L. , & Sirmans, C. F.

Alamo Realty: The Effects of Technology Changes on Real Estate Brokerage, Journal of Real Estate Practice and Education, 2000
with Baen , J., & Benjamin, J.

Contagion and REIT Stock Prices, Journal of Real Estate Research, 1998
with Ghosh, C., & Sirmans, C. F.

). Aggregation Bias in Price Indices for Multi-Family Rental Properties, Journal of Real Estate Research, 1998
with Sirmans, C. F.

). The Effects of the Real Estate Crisis on Institutional Stock Prices, Real Estate Economics, Journal of Amer. Real Estate & Urban Econ. Ass., 1997
with Sirmans, C. F.

The Coming Downsizing of Real Estate: Implications of Technology, The Journal of Real Estate Portfolio Management, 1997
with Baen, J.

The 1996 Real Estate Intermediary Statute: A Trap for Brokers and Consumers, Real Estate Probate and Trust Law Reporter, 1997
with Braswell , M., & Poe, S.

Understanding Mortgage-Backed Securities: Part 2, Institutional Investor’s Financial Consultant Journal, 1996
with McCarthy, E. D.

Understanding Mortgage-Backed Securities: Part 1, Institutional Investor’s Financial Consultan, 1996
with McCarthy, E. D.

Downsizing America's Real Estate Industry, Tierra Grande Journal, 1996

The Coming Downsizing in Real Estate: Implications of Technology, A&M Real Estate Center’s Technical Reports Series, 1996
with Baen, J

Creating a Constant Quality Index for Multi-Family Residential Housing, Journal of Real Estate Research, 1995
with Sirmans, C. F.



Robert Kieschnick

Working Capital Management, the Credit Crisis, and Hedging Strategies: Canadian Evidence, Journal of International Financial Management and Accounting, 2016
with Wendy Rotenberg

On the evolution of corporate capital structures, Journal of Evolutionary Economics, 2015
with Dan Arce; Doug Cook

The influence of moral hazard on investment in financially constrained and unconstrainted firms, Finance Research Letters, 2014
with Michael O’Connor Keefe

Motivating innovation in newly public firms, Journal of Financial Economics, 2014
with Nina Baranchuk and Rabih Moussawi

Robust Determinants of IPO Underpricing and their Implications for IPO Research, Journal of Corporate Finance, 2014
with Alexander Butler; Michael Keefe

The influence of moral hazard on investment in financially constrained and unconstrained firms, Finance Research Letters, 2014
with Michael Keefe

Working capital management and shareholder wealth, Review of Finance, 2013
with Mark Laplante; Rabih Moussawi

A target’s perspective on the effects of ATPs in takeovers after recognizing its choice in the process, Journal of Corporate Finance, 2012
with Sinan Goktan

On the decision to go public with dual class stock, Journal of Corporate Finance, 2010
with Onur Arugaslan; Douglas Cook

Determinants of financial distress and bankruptcy in highly levered transactions, Quarterly Review of Economics and Finance, 2009
with Paul Halpern; Wendy Rotenberg

Regression analysis of proportions in finance with self-selection, Journal of Empirical Finance, 2008
with Douglas Cook; Bruce McCullough

On the Marketing of IPOs, Journal of Financial Economics, 2006
with Douglas Cook; Robert van Ness

Managerial shareholdings, firm value, and acquired corporations, Quarterly Review of Economics and Finance, 2005
with Paul Halpern; Wendy Rotenberg

Product market competition, regulation, and financial contracts, Quarterly Review of Economics and Finance, 2005
with Michael Cichello

A Study of Corporate Governance of Thrifts, Journal of Banking and Finance, 2004
with Douglas Cook and Arthur Hogan

Monitoring as a motivation for IPO Underpricing, Journal of Finance, 2004
with Onur Arugaslan; Douglas Cook

A Study of Corporate Governance of Thrifts, Journal of Banking and Finance, 2004

Regression analysis of variates observed on (0,1): percentages, proportions and fractions, Statistical Modeling: An International Journal, 2003
with B.D. McCullough

On the Heterogeneity of Levered Going Private Transactions, The Review of Financial Studies, 1999
with Paul Halpern and Wendy Rotenberg

An Examination of Initial Shareholdings in Tender Offer Bids, Review of Quantitative Finance and Accounting, 1999
with Dan Asquith

Managerial Incentives and the Structure of Management Buyouts, Journal of Economic Behavior and Organization, 1998
with Ramy Elitzur, Paul Halpern, and Wendy Rotenberg

Evidence on Price Stablization and Underpricing in Early IPO Returns, Journal of Finance, 1998
with Daniel Asquith and Jonathan Jones

Free Cash Flow and Stockholder Gains in Going Private Transactions Revisited, Journal of Business Finance and Accounting, 1998

Counterfeit Purchase Intentions: Roles of Lawfulness Attitudes and Product Traits as Determinants, Journal of Business Research, 1996
with Victor Cordell and Nittaya Wongtada

Corporate Applications of Contingent Claims Analysis: A Selective Perspective, Managerial Finance, 1990



S. Drew Peabody

Do the Stars Align? An Evaluation of the Efficacy of Independent Analysts' Equity Ratings, Journal of Applied Finance, 2015
with Yi Liu



Simon Siegenthaler

Better later than never? An experiment on bargaining under adverse selection, International Economic Review, 2018
with Olivier Bochet

Meet the lemons: An experiment on how cheap-talk overcomes adverse selection in decentralized markets, Games and Economic Behavior, 2017



Stan Liebowitz

A Replication of Four Quasi-Experiments and Three Facts from ‘The Effect of File Sharing on Record Sales: An Empirical Analysis’ (Journal of Political Economy, 2007), Economics: The Open-Access, Open-Assessment E-Journal, 2017

The Internet as a Celestial TiVo: What can we Learn from Cable Television Adoption?, Journal of Cultural Economics, 2016
with A Zentner

Why The Oberholzer-Gee/Strumpf File-Sharing Article Is Not Credible, Econ Journal Watch, 2016

Paradise Lost or Fantasy Island? The Payment to Authors without Copyright Protection in 19th Century America, Journal of Law and Economics, 2016

How much of the Decline in Sound Recording Sales is due to File-Sharing?, Journal of Cultural Economics, 2015

A Critique of Copyright Criticisms, George Mason Law Review, 2015

Willful Blindness: The Inefficient Reward Structure in Academic Research, Economic Inquiry, 2014

The Hopes and Realities of Copyright, Milken Institute Review, 2014

The Impacts of Internet Piracy, he Economics of Copyright: A Handbook for Students and Teachers, 2014

Let’s make Texas friendly for auto consumers, Austin American Statesman, 2014

The Troubled Path of the Lock-In Movement, Journal of Competition Law and Economics, 2013
with Steve Margolis

Our uneconomic methods of measuring economic research, VoxEU, 2013

Internet piracy: the estimated impact on sales, Handbook on the Digital Creative Economy , 2013
with Ruth Towse and Christian Handke, Edward Elgar

The Internet’s Upending of Cultural Industries: The Good, the Bad, and the Ugly, Cultural Economics in Japanese, 2012
with Bunkakeizaigaku

Clash of the Titans: The Internet as a competitor to Television, Review of Economics and Statistics , 2012
with Alejandro Zentner

What are the Economic Impacts of Micropayments for Intellectual Properties?, Innovation and Intellectual Property , 2012
with G. Ramello and M. Scherer

Internet to Artists: Drop Dead, Wall Street Journal, 2012

New Evidence on the Foreclosure Crisis, Wall Street Journal, 2012

It’s the Flexible Lending Standards, Stupid, Washington Examiner, 2012

Should Bailed-Out Homeowners Be Required To Pay Restitution?, Investors Business Daily, 2012

Is Efficient Copyright a Reasonable Goal?, George Washington Law Review, 2011

Bundles of Joy: The Ubiquity and Efficiency of Bundles in New Technology Markets, Journal of Competition Law & Economics, 2009
with Stephen Margolis

The Myth of Copyright Inefficiency, Regulation Magazine , 2009

New Evidence on the Foreclosure Crisis, Wall Street Journal, 2009

It’s the Flexible Lending Standards, Stupid, Washington Examiner, 2009

Should Bailed-Out Homeowners Be Required To Pay Restitution?, Investors Business Daily, 2009

Testing File-Sharing’s Impact on Music Album Sales in Cities, Management Science, 2008

Anatomy of a Train Wreck, in National Review, 2008

House of Cards, New York Post, 2008

The Real Scandal: How Feds Invited the Mortgage Mess, New York Post, 2008

How to Best Ensure Remuneration for Creators in the Market for Music? Copyright and its Alternatives, Journal of Economic Surveys, 2006
with Richard Watt

File-Sharing: Creative Destruction or just Plain Destruction?, Journal of Law and Economics , 2006

Economists Examine File-Sharing and Music Sales, Industrial Organization and the Digital Economy , 2006
with G. Illing and M. Peitz

Seventeen Famous Economists Weigh in on Copyright: The Role of Theory, Empirics, and Network Effects, Harvard Journal of Law and Technology, 2005

Economists’ Topsy-Turvy View of Piracy, The Review of Economic Research on Copyright Issues, 2005

Pitfalls in Measuring the Impact of File-sharing on the Sound Recording Market, CESifo Economic Studies , 2005

MP3s and copyright collectives: a cure worse than the disease?” Developments in the Economics of Copyright: Research and Analysis, Copyright Issues in Higher Education: A Legal Compendium., 2005
with Wendy Gordon, Lisa Takeyama and Ruth Towse, Edward Elgar

Network Meltdown: A Legacy of Bad Economics, How New is the New Economy, 2005
with E Jansen, Edward Elgar

Copyright Reconsidered: A Review of Promises to Keep, Issues in Science and Technology, 2005

The Elusive Symbiosis: The Impact of Radio on the Record Industry, The Review of Economic Research on Copyright Issues, 2004

Lessons from the Internet Bubble, Hitotsubashi Business Review , 2004

Will MP3 downloads Annihilate the Record Industry? The Evidence so Far, Advances in the Study of Entrepreneurship, Innovation, and Economic Growth, 2004

Alternative Copyright Systems: The Problems with a Compulsory License, IPcentral.info , 2003

Copyright in the Post Napster World, Copyfights , 2002
with Wayne Crews and Adam Thierer, Cato

An Expensive Pig in a Poke: Estimating the Costs of the District Court’s Proposed Breakup of Microsoft, George Mason Law Review, 2001

Mission Impossible: Determining the Value of Copyrigh, Administrative Institutions , 2000

Slim Pickings in Cyberspace, CIO Magazine, 2000

Winner Takes What, CIO Magazine, 2000

Don't Pull the Plug on AOL-Time Warner, Wall Street Journal Europe, 2000
with Steve Margolis

Will the Cure be Worse than the Disease?, Interactive Week, 2000

Should Microsoft be broken Up: No, Dallas Morning News, 2000

Windows and the “Applications Barrier to Entry”: Fact or Fantasy?, CEI OnPoint, 2000

Hey, Remember Microsoft?, Wall Street Journal, 2000

Impacts of Jackson's Actions, New York Newsday, 1999

Judge's Muddled Ruling Bad News for Microsoft but also for Consumers, National Post , 1999

A Defective Product: Consumer Groups' Study of Microsoft In Need of Recall, CEI OnPoint , 1999

Mortgage Discrimination in Boston: Where’s the Bias?, Economic Inquiry, 1998
with Ted Day

Do We Get Stuck With Inferior Technologies?" , Soziale Schliesung im Prozes der Technologieentwicklung, 1998

Path Dependence, The New Palgraves Dictionary of Economics and the Law, 1998
with Steve Margolis

Network Effects and Externalities, The New Palgraves Dictionary of Economics and the Law, 1998

Path Dependence and Economic Evolution, Jobs and Capital, 1998
with Steve Margolis

Bill Gate’s Secret? Better Products, Wall Street Journal, 1998

Network Effects and Externalities, The New Palgraves Dictionary of Economics and the Law, 1998
with Steve Margolis

Typing Errors, Reason Magazine, 1997
with Steve Margolis

Microsoft Can't Help Its Success, San Francisco Chronicle, 1997

Should Technology Choice be a Concern for Antitrust?, Harvard Journal of Law and Technology, 1996

Reply to Invited Comments Regibeau And Gandal, Research In Law And Economics, 1995
with Stephen E. Margolis

Path Dependence: From Qwerty To Windows, Regulation Magazine, 1995
with Steve Margolis

Don’t Handcuff Technology, Upside Magazine, 1995
with Steve Margolis

Case Against Microsoft As Transparent As A Window, Dallas Morning News, 1995

Is Microsoft A Threat, Investors Business Daily, Also, Christian Science Monitor and Seattle Times., 1995
with Steve Margolis

Misunderstanding Microsoft, American Civilization, 1995

Path Dependence, Lock-in and History, Journal of Law, Economics and Organization, 1995
with Steve Margolis

Are Network Externalities a New Source of Market Failure?, Research in Law and Economics, 1995
with Stephen E. Margolis

Network Externality: An Uncommon Tragedy, The Journal Of Economic Perspectives, 1994
with Stephen E. Margolis

Study Author Misses Basket, Texas Banking, 1994

How The Medical Business Of America Got In Such Critical Condition,, Philadelphia Inquirer, 1993

A Study That Deserves No Credit, Wall Street Journal, 1993

The Fable of the Keys, Journal of Law and Economics, 1990
with Stephen E. Margolis

Price Differentials and Price Discrimination: Reply and Extensions, Economic Inquiry, 1988

Assessing Assessments of the Quality of Economics Departments, Quarterly Review of Economics and Business, 1988
with John Palmer

Some Puzzling Behavior by the Owners of Intellectual Products, Contemporary Policy Issues, 1987

On The Measurement and Mismeasurement of Monopoly Power, International Review of Law and Economics, 1987

Copyright Law, Photocopying and Price Discrimination, 8 Research in Law and Economics, 1986

Copying and Indirect Appropriability: Photocopying of Journals, Journal of Political Economy, 1985

Assessing the Relative Impacts of Economic Journals, Journal of Economic Literature, 1984
with John Palmer

Tie-in Sales, Risk Reduction and Price Discrimination, ,” Economic Inquiry, 1983

Price Discrimination By Journal Publishers: Its Impact on Copyright Law and Photocopying, European Intellectual Property Review, 1983

The Pricing Practices of the Liquor Control Board of Ontario: Revisited, Canadian Journal Of Economics, 1983
with Guy Bridgeman

What Do Census Price-cost Margins Measure, Journal of Law and Economics, 1982

Durability, Market Structure And New-used Goods Models, American Economic Review, 1982

The Impacts of Cable Retransmission on Television Broadcasters, Canadian Journal of Economics, 1982

Measuring Industrial Disequilibria, Southern Economic Journal, 1982

Journals As Shared Goods: Comment, American Economic Review, 1982
with S. E. Margolis



Steven Xiao

Public Corruption in the United States: Implications for Local Firms, Review of Corporate Finance Studies, 2016
with Nishant Dass, Vikram Nanda

Culture and R2, Journal of Financial Economics, 2015
with Cheol S. Eun, Lingling Wang



Ted Day

Dividend Distributions and Closed-End Fund Discounts, Journal of Financial Economics 100, 2011
with Zhengzheng Li and Yexiao Xu

Margin Adequacy in Futures Markets, Journal of Business, 2004
with Craig M. Lewis

Dividends, Nonsynchronous Prices, and Returns from Trading the Dow Jones Industrial Average, Journal of Empirical Finance, 2002
with Pingying Wang

Following the Leader: An Analysis of Analyst's Earnings Forecasts, Journal of Financial Economics, 2001
with Rick Cooper and Craig M. Lewis

Transfer Pricing, Incentive Compensation, and Tax Avoidance in a Multi-Division Firm, Review of Quantitative Finance and Accounting, 1998
with Yoon Choi

Mortgages, Minorities and Discrimination, Economic Inquiry, 1998
with S.J. Liebowitz

Initial Margin Policy and Stochastic Volatility in the Crude Oil Futures Market, Review of Financial Studies, 1997
with Craig M. Lewis

Marginal Influence, Energy and Power Risk Management, 1997
with Craig M. Lewis

Forecasting Futures Market Volatility, Journal of Derivatives, 1993
with Craig M. Lewis

Stock Market Volatility and the Information Content of Stock Index Options, Journal of Econometrics, 1992
with Craig M. Lewis

Commentary on the Replication of an Option on a Bond Portfolio, The Review of Futures Markets, 1990

The Behavior of the Volatility Implicit in the Prices of Stock Index Options, Journal of Financial Economics, 1988
with Craig M. Lewis

Information, Production, and the Term Structure., Journal of Political Economy, 1986

Expected Inflation and the Real Rate of Interest, Journal of Banking and Finance, 1985

Real Stock Returns and Inflation, Journal of Finance, 1984



Valery Polkovnichenko

Cautious Risk Takers: Investor Preferences and Demand for Active Management, Journal of Finance, 2016
with Kelsey Wei and Feng Zhao

Fiscal Policy in Incomplete Markets, The Review of Financial Studies, 2013
with Francisco Gomes and Alexander Michaelides

Probability Weighting Functions Implied by Option Prices, Journal of Financial Economics,, 2013
with Feng Zhao

Risk attitude toward small and large bets in the presence of background risk, The Review of Finance, 2011
with David Chapman

Optimal Savings with Taxable and Tax-Deferred Accounts, Review of Economic Dynamics, 2009
with Francisco Gomes and Alexander Michaelides

First Order Risk Aversion, Preferences Heterogeneity and Asset Markets Outcomes, The Journal of Finance, 2009
with David Chapman

Life Cycle Portfolio Choice with Additive Habit Formation Preferences and Uninsurable Income Risk, The Review of Financial Studies, 2007

Household Portfolio Diversification: A Case for Rank-Dependent Preferences,, The Review of Financial Studies, 2005

Limited Stock Market Participation and the Equity Premium, Finance Research Letters, 2004

Human Capital and the Private Equity Premium, Review of Economic Dynamics,, 2003



Vikram Nanda

Executive Overconfidence and Compensation Structure, Journal of Financial Economics, 2016
with Mark Humphrey-Jenner, Ling Lei Lisic, Dino Silveri

Public Corruption in the United States: Implications for Local Firms, Review of Corporate Finance Studies, 2016
with Nishant Dass, Steven Chong Xiao

CEO Power and Firm Performance Under Pressure, Financial Management, 2016
with Seonghee Han, Dino Silveri

When Crisis Knocks, Call a Powerful CEO (or Not): Investigating the Contingent Link Between CEO Power and Firm Performance During Industry Turmoil, Group and Organization Management, 2016
with Vishal Gupta, Seonghee Han, Dino Silveri

Strategic Delays and Clustering in Hedge Fund Reported Returns, Journal of Financial and Quantitative Analysis, 2016
with George Aragon

Incentive Contracting When Boards Have Related Industry Expertise, Journal of Corporate Finance, 2016
with Bunyamin Onal

What Drives Investment Cash Flow Sensitivity Around the World? An Asset Tangibility Perspective, Journal of Banking and Finance, 2016
with Fariborz Moshirian, Alexander Vadilyev, Bohui Zhang

Executive Overconfidence and Securities Class Actions, Journal of Financial and Quantitative Analysis, 2016
with Suman Banerjee, Mark Humphery-Jenner, Mandy Tham

Incentive Contracting When Boards have Related Industry Expertise, Journal of Corporate Finance, 2016
with Bunyamin Onal

What Drives Investment-Cash Flow Sensitivity around the World? An Asset Tangibility Perspective, Journal of Banking and Finance, 2016
with Fariborz Moshirian, Alexander Vadilyev, Bohui Zhang

Executive Overconfidence and Securities Class Actions, Journal of Financial and Quantitative Analysis, 2016
with Suman Banerjee, Mark Laurence Humphrey-Jenner, Mandy Tham

Truncation Bias Corrections in Patent Data: Implications for Recent Research on Innovation, Journal of Corporate Finance, 2016
with Nishant Dass, Steven Chong Xiao

Lending to Innovative Firms, Review of Corporate Finance Studies, 2016
with Sudheer Chava and Steven Chong Xiao

Board Expertise: Do Directors from Related Industries Help Bridge the Information Gap?, Review of Financial Studies, 2014
with Nishant Dass, Omesh Kini, Bunyamin Onal and Jun Wang

Compensation Rigging by Powerful CEOs: A Reply and Cross-Sectional Evidence, Critical Financial Review, 2014
with Adair Morse and Amit Seru

Trade Credit, Relationship-specific Investment, and Product Market Power, Review of Finance, 2014
with N. Dass, J. R. Kale

Private Equity Fund Returns and Performance Persistence, Review of Finance, 2014
with Marquez, Yavuz

Portfolio Pumping, Trading Activity and Fund Performance, Review of Finance, 2013
with Sugato Bhattacharyya

Internal Capital Market and Dividend Policies: Evidence From Business Groups, Review of Financial Studies, 2013
with Radhakrishnan Gopalan, and Amit Seru

Allocation of Decision Rights and the Investment Strategy of Mutual Funds, Journal of Financial Economics, 2013
with Nishant Dass and Qinghai Wang

Tournament Behavior in Hedge Funds: High Water Marks, Fund Liquidations and Managerial Stake, Review of Financial Studies, 2012
with George Aragon

Do institutions prefer high value acquirers? An analysis of trading in stock-financed mergers, Journal of Financial Research, 2012
with Timothy R. Burch and Sabatino Silveri

Taking Stock or Cashing In? Shareholder Style Preferences, Premiums and the Method of Payment, Journal of Empirical Finance, 2012
with Timothy Burch and Sabatino Silveri

Are Incentive Contracts Rigged By Powerful CEOs?, Journal of Finance, 2011
with Adair Morse and Amit Seru

Payout Policies and Closed-end Fund Discounts: Signaling, agency costs and the role of institutional investors, Journal of Financial Intermediation, 2011
with Jay Wang

Does poor performance damage the reputation of financial intermediaries? Evidence from the loan syndication market, Journal of Finance, 2011
with Radha Gopalan and Vijay Yerramilli

Using Auctions to Price Employee Stock Options: The Case of Zion Bancorporation ESOARS, Financial Analysts Journal, 2010
with Sumon Mazumdar and Rahul Surana

The NUA Benefit and Optimal Investment in Company Stock in 401(k) Accounts, Research in Finance, 2010
with Mukesh Bajaj, Sumon Mazumdar and Rahul Surana

The ABCs of Mutual Funds: On the Introduction of Multiple Share Classes Distribution, Journal of Financial Intermediation, 2009
with Jay Wang and Lu Zheng

Affiliated Firms and Financial Support: Evidence from Indian Business Groups, Journal of Financial Economics, 2008
with Radha Gopalan and Amit Seru

Hot Markets, Investor Sentiment and IPO pricing, Journal of Business, 2006
with Alex Ljungqvist and Raj Singh

Does it pay to be loyal?: An empirical analysis of underwriting relationships and fees, Journal of Financial Economics, 2005
with Vince Warther and Tim Burch

What's in a name? The economics of naming business schools, Journal of Business, 2005
with Tim Burch

Family values and the Star phenomenon, Review of Financial Studies, 2004
with Jay Wang and Lu Zheng

Bond insurance: What is special about Munis?, Journal of Finance, 2004
with Rajdeep Singh

Do firms time their offerings: Clues from the 1930s and 40s, Lead Financial Management, 2004
with Bill Christie and Tim Burch

Divisional diversity and the conglomerate Discount: The evidence from spin-offs, Journal of Financial Economics, 2003
with Tim Burch

Resource allocation in conglomerates under moral hazard, Review of Financial Studies, 2003
with Anand Goel and M.P. Narayanan

Internal capital markets and corporate refocusing, Journal of Financial Intermediation, 2002
with John Matsusaka

Liquidity, investment ability and mutual fund structure, Journal of Financial Economics, 2001
with M. P. Narayanan and Vince Warther

Client discretion, switching costs and financial innovation, Review of Financial Studies, 2000
with Sugato Bhattacharyya

Disentangling value: Misvaluation and Divestitures, Journal of Financial Intermediation, 1999
with M. P. Narayanan

Leverage and market stability: The role of margin rules and price limits, Journal of Business, 1998, 1998
with Bhagwan Chowdhry

Financial innovation and investor wealth: A study of the poison put in convertible bonds, Journal of Corporate Finance, 1997
with Youngkeol Yun

Reputation and financial intermediation: An empirical investigation of the impact of IPO mispricing on underwriter market value, Journal of Financial Intermediation, 1997
with Youngkeol Yun

Tender offers, proxy contests and large shareholder activism, Journal of Economics and Management Strategy, 1997
with Sudipto Dasgupta

Stabilization, syndication and pricing of IPOs, Journal of Finance and Quantitative Analysis, 1996
with Bhagwan Chowdhry

Repurchase premia as a reason for dividends: A dynamic model of corporate payout policies, Review of Financial Studies, 1994
with Bhagwan Chowdhry

Financing of multinational subsidiaries: Parent debt vs. external debt, Journal of Corporate Finance, 1994
with Bhagwan Chowdhry

Free cash flow, shareholder value and the undistributed profits tax of 1936-37, Journal of Finance, 1994
with William Christie

The Strategic Role of Debt in Takeover Contests, Journal of Finance, 1993
with Bhagwan Chowdhry

Trading and manipulation around seasoned equity offerings, Journal of Finance, 1993
with Bruno Gerard

Bargaining and brinkmanship: Capital structure choice by regulated firms, International Journal of Industrial Organization, 1993
with Sudipto Dasgupta

Common stock offerings across the business cycle: Theory and evidence, Journal of Empirical Finance, 1993
with Hyuk Choe and Ronald Masulis

On the good news in equity carve-outs, Journal of Finance, 1991

Multi-market trading and market liquidity, Review of Financial Studies, 1991
with Bhagwan Chowdhry



Xiaofei Zhao

Labor-Force Heterogeneity and Asset Prices: The Importance of Skilled Labor, Review of Financial Studies, 2016
with Frederico Belo, Jun Li, and Xiaoji Lin

Does Information Intensity Matter for Stock Returns? Evidence from Form 8-K Filings, Management Science, 2015

Do Jumps Contribute to the Dynamics of the Equity Premium?, Journal of Financial Economics,, 2013
with John Maheu and Tom McCurdy

A Market-Based Study of the Cost of Deafult, Review of Financial Studies, 2012
with Sergei Davydenko and Ilya Strebulaev

Empirical Analysis and Forescasting for SARS Epidemic Situation, Journal of Peking University (Health Sciences), 2003
with Duo Wang,



Yexiao Xu

Sell-Side Analyst Research and Stock Comovement, Journal of Accounting Research, 2014
with Volkan Mulslu and Michael Rebello

Dividend Distributions, and Closed-End Fund Discounts, Journal of Financial Economics, 2011
with Ted Day and Zhengzheng Li

Unique Symptoms of Japanese Stagnation: An Equity Market Perspective, Journal of Money, Credit, and Banking, 2007
with Yasushi Hamao and Jianping Mei

What Determines Chinese Stock Returns, Financial Analyst Journal, 2004
with Fenghua Wang

Small Levels of Predictability and Large Economic Gains, Journal of Empirical Finance, 2004

Investigating the Behavior of Idiosyncratic Volatility, Journal of Business, 2003
with Burton G. Malkiel

Biases in Using Jensen's Alpha, Advances in Investment Analysis and Portfolio Management, 2001

Identifying the Factor Structure of Equity Returns, Journal of Portfolio Management, 2001
with Larry J. Merville and Suzanne Hayes-Yelken

Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk, Journal of Finance, 2001
with John Campbell, Martin Lettau, and Burton G. Malkiel

Risk and Return Revisited, Journal of Portfolio Management,, 1997
with Burton G. Malkiel

A Comparison of Semi-parametric and Partially Adaptive Estimators of the Censored Regression Model with Possibly Skewed and Leptokurtic Error Distributions, Economics Letters, 1996
with James B. McDonald

A Generalization of the Beta Distribution with Applications, Journal of Econometrics, 1995
with James B. McDonald

Some Forecasting Applications of Partially Adaptive Estimators of ARIMA Models, Economics Letters, 1994
with James B. McDonald

An Empirical Investigation of Size of the Likelihood Ratio Test Statistics, Communication in Statistics: Simulation and Computation, 1992
with J. B. McDonald