Faculty Research Profiles

Assistant Professor of Economics

Education:

Ph.D. University of Michigan, 2018, Economics

Specialty Fields:

Energy Economics, Environmental Economics, Urban Economics, Real Estate

Selected Publications:

“Cleaning Up the Great Lakes: Housing Market Impacts of Removing Legacy Pollutants.” (With Robyn Meeks and Michael Moore.) Journal of Public Economics. Forthcoming.

“Work-from-Home, Electricity, and Water: Evidence from COVID-19 in Qatar.” (With Ahmed Khalifa and David H. Bernstein.) Energy Strategy Reviews. September 2023.

“How Does Mandatory Energy Efficiency Disclosure Affect Housing Prices?” Journal of the Association of Environmental and Resource Economists. May 2023.

“Heating and Cooling Upgrades in Response to Extreme Weather.” (With Paul Brehm.) Working Paper.

“Housing Market Impacts of Hazardous Waste Cleanups.” (With Elaine Hill and Lala Ma.) Working Paper.

Assistant Professor of Economics

Education:

Ph.D. University of Michigan, 2018, Economics

Specialty Fields:

Public Finance, Development, Political Economy

Selected Publications:

"The Introduction of the Income Tax, Fiscal Capacity, and Migration: Evidence from U.S. States." (With Mark Dincecco and Ugo Antonio Troiano.) American Economic Journal: Economic Policy. Forthcoming.

“The Long-Run Effects of Oil Wealth on Development: Evidence from Petroleum Geology.” Economic Journal. October 2019.

“Old and Young Politicians.” (With Alberto Alesina and Ugo Troiano.) Economica. October 2019.

"Revenue Persistence and Public Service Delivery." Working Paper.

“The Economic Legacy of Warfare: Evidence from European Regions.” (With Mark Dincecco and Massimiliano Gaetano Onorato.) Working Paper.

"Government Fragmentation and Economic Growth." (With Tejaswi Velayudhan.) Working Paper.

Bidgood Chair of Economics and Finance

Professor of Economics

Education:

Ph.D., University of Arizona, 2001, Economics

Specialty Fields:

Experimental Economics, Behavioral Economics

Selected Publications:

“When Do Security Markets Aggregate Dispersed Information?” (With Brice Corgnet, Mark DeSantis, Kyle Hampton, and Erik O. Kimbrough.) Management Science. June 2023. 

“Forecasting Skills in Experimental Markets: Illusion or Reality?” (With Brice Corgnet, Mark DeSantis and David Porter.) Management Science. July 2022. 

“Designing Call Auction Institutions to Eliminate Price Bubbles: Is English Dutch the Best?” (With M. Servátka and S. Tucker.) American Economic Review: Insights. June 2020. 

“Optimization Choice Architectures.” (With M. Schneider, T. Besedes, S. Sarangi, and M. Shor.) Decision Analysis. March 2019. 

“An Experimental Investigation of Procurement Auctions with Asymmetric Sellers.” (With J. Aloysius, R. French, and L. Hao.) Production and Operations Management. October 2016.  

“Reducing Choice Overload without Reducing Choices.” (With T. Besedeš, S. Sarangi, and M. Shor.) Review of Economics and Statistics. October 2015.  

“The Effect of Cognitive Load on Economic Decision Making: A Survey and New Experiments.” (With S. Jahedi.) European Economic Review. August 2015.   

“Consistency of Higher Order Risk Preferences.” (With H. Schlesinger.) Econometrica. September 2014.

“Sequential Pricing of Multiple Products: Leveraging Revealed Preferences of Retail Customers Online and with Auto-ID Technologies.” (With J. Aloysius, and A. Farmer.) Information Systems Research. June 2013.

“Fight or Flight? Defending Against Sequential Attacks in the Game of Siege.” (With R. Sheremeta.) Journal of Conflict Resolution. December 2012.

“Age Effects and Heuristics in Decision Making.” (With T. Besedeš, S. Sarangi, and M. Shor.) Review of Economics and Statistics. May 2012.

“Exploring Higher-Order Risk Effects." (With H. Schlesinger.) Review of Economic Studies. October 2010.

“Tracking Customer Search to Price Discriminate.” (With B. Wilson.) Economic Inquiry. 2006.

“On the Nature of Reciprocal Motives.” (With J. Cox.) Economic Inquiry. July 2005. 

“A Test of Game Theoretic and Behavioral Models of Play in Exchange and Insurance Environments.” American Economic Review. December 2001.

Assistant Professor of Economics

Education:

Ph.D. Stanford University, 2023, Economics

Specialty Fields:

Behavioral Economics, Experimental Economics, Behavioral Finance

Selected Publications:

“The Inference-Forecast Gap in Belief Updating.” (with Yucheng Liang and Cameron Peng.) Working Paper.

“Motivated Mislearning: The Case of Correlation Neglect.” (With Lukas Bolte.) Working Paper.

“Forming Misspecified Mental Models: The Power of Choice.” (With Zhenlin Kang.) Working Paper.

“Interventionist Preferences and the Welfare State: The Case of In-Kind Nutrition Assistance.” (With Sandro Ambuehl, B. Douglas Bernheim, and Zach Freitas-Groff.) Working Paper. 

Assistant Professor of Economics

Education:

Ph.D. Duke University 2018, Economics

Specialty Fields:

Macroeconomics, Economic Growth, Macro-Finance

Selected Publications:

"Labour Taxes, Market Size and Productivity Growth." (With Domenico Ferraro and Pietro F Peretto.) Economic Journal. August 2023.

“Implications of Tax Policy for Innovation and Aggregate Productivity Growth.” (With Domenico Ferraro and Pietro Peretto.) European Economic Review. November 2020. 

Associate Professor of Economics

Education:

Ph.D. University of North Carolina, 2005, Economics

Specialty Fields:

Macroeconomics and Monetary Economics 

Selected Publications:

“Unemployment, Partial Insurance, and the Multiplier Effects of Government Spending.” International Economic Review. May 2022.

“Monetary Policy and Investment Dynamics: Evidence from Disaggregate Data.” (With Robert R. Reed.) Journal of Money, Credit and Banking. December 2018. 

“Do Data Revisions Matter for DSGE Estimation?” Journal of Money, Credit and Banking. September 2017.

“On the Gains from Monetary Policy Commitment under Deep Habits.” Journal of Macroeconomics. December 2016. 

“A Note on Comparing Deep and Aggregate Habit Formation in an Estimated New Keynesian Model.” Macroeconomic Dynamics. July 2015.

“Inferring Monetary Policy Objectives with a Partially Observed State.” (With Michael Salemi.) Journal of Economic Dynamics and Control. March 2015.

“Estimating Central Bank Preferences under Commitment and Discretion.” Journal of Money, Credit, and Banking. September 2012.

“Unemployment Insurance in a Sticky-Price Model with Worker Moral Hazard.” Journal of Economic Dynamics and Control. August 2011. 

“Which Price Level to Target? Strategic Delegation in a Sticky Price and Wage Economy.” Journal of Macroeconomics. December 2009.

“Generalized Method of Moments and Inverse Control.” (With Michael Salemi.) Journal of Economic Dynamics and Control. October 2008.

“Unemployment, Imperfect Risk Sharing, and the Monetary Business Cycle.” The B.E. Journal of Macroeconomics (Contributions). March 2008. 

Associate Professor of Economics and Real Estate 

Education:

Ph.D., University of Chicago, 2012, Economics

Specialty Fields:

Urban Economics, Transportation Economics, Real Estate, Applied Microeconomics

Selected Publications:

"Can Behavioral Interventions Be Too Salient? Evidence from Traffic Safety Messages." (With J. Madsen.) Science. April 2022.

"Technological Change and Obsolete Skills: Evidence from Men’s Professional Tennis." (With I. Fillmore.) Labour Economics. December 2021.

"Can Tolling Help Everyone? Estimating the Aggregate and Distributional Consequences of Congestion Pricing." Journal of the European Economic Association. February 2021.

"Tolling Roads to Improve Reliability." (With I. Savage.) Journal of Urban Economics. September 2019.

"Is Uber a Substitute or Complement for Public Transit?" (With C. Palsson, and J. Price.) Journal of Urban Economics. November 2018.

"Pareto Improvements from Lexus Lanes: The Effects of Pricing a Portion of the Lanes on Congested Highways." Journal of Public Economics. February 2018.

"A Semi-Analytical Approach for Solving the Bottleneck Model with General User Heterogeneity." (With Y. Liu, and Y. Nie.) Transportation Research Part B: Methodological. January 2015.

Rick and Elaine Horsley Faculty Fellow

Professor of Economics

Education:

Ph.D. Vanderbilt University, 2008, Economics

Specialty Fields:

Industrial Organization, Experimental Economics, Market Design

Selected Publications:

"Reassignment Policies and School Stratification." (With Sui Wu.) Educational Policy. September 2022.

"Sequential School Choice: Theory and Evidence from the Field and Lab." (With Umut Dur and Onur Kesten.) Journal of Economic Theory. December 2021.

“The Secure Boston Mechanism: Theory and Experiments.” (With Umut Dur and Thayer Morrill.) Experimental Economics. December 2019.

“What Drives Pricing Behavior in Peer-to-Peer Markets? Evidence from the Car-Sharing Platform BlaBlaCar.” (With Mehdi Farajallah and Thierry Penard.) Information Economics and Policy. September 2019.

“Enhancing Effort Supply with Prize-Augmenting Entry Fees: Theory and Experiments.” (With Bin Liu, Jingfeng Lu, and Yohanes Riyanto.) International Economic Review. August 2019.

“Informing Retirement Savings Decisions: A Field Experiment on Supplemental Plans. (With Robert Clark, Melinda Morrill, and Christelle Khalaf.) Economic Inquiry. January 2019. 

“Identifying the Harm of Manipulable School-Choice Mechanisms.” (With Umut Dur and Thayer Morrill.) American Economic Journal: Economic Policy. February 2018. 

“Profit Leak? Pre-Release File Sharing and the Music Industry.” Southern Economic Journal. October 2014.

“Strategic Exclusion of the Highest-Valued Bidders in Wholesale Automobile Auctions.” (With Thayer Morrill.) Economic Inquiry. July 2014.

“Quantifying Consumer Perception of a Financially Distressed Company.” Journal of Business & Economic Statistics. October 2013.

“A Structural Model of Competing Sellers: Auctions and Posted Prices.” European Economic Review. May 2013.

“Heterogeneity in Tournaments with Incomplete Information: An Experimental Analysis.” (With Xiaoyong Zheng.) International Journal of Industrial Organization. May 2013.

“Sudden Unintended Used-Price Deceleration? The 2009-2010 Toyota Recalls.” Journal of Economics & Management Strategy. Spring 2013.

“Comparing Revenue from Auctions and Posted Prices.” International Journal of Industrial Organization.  January 2010.

J. Weldon and Delores Cole Faculty Fellow

Professor of Economics

Education:

Ph.D. University of California, Riverside, 2003, Economics

Specialty Fields:

Nonparametric Econometrics, Economic Growth and Development, Economics of Education

Selected Publications:

“A Complete Framework for Model-Free Difference-in-Differences Estimation.” (With Stefan Sperlich.) Foundations and Trends in Econometrics. 2023. 

"Nonparametric Multi-Dimensional Fixed Effects Panel Data Models." (With Juan Rodriguez-Poo and Alexandra Soberon.) Econometric Reviews. 2022. 

“On Discrete Epanechnikov Kernel Functions.” (With Chi-Yang Chu and Christopher Parmeter.) Computational Statistics and Data Analysis. 2017. Applied Nonparametric Econometrics. (With Christopher Parmeter.) Cambridge University Press. 2015.

“Gradient Based Smoothing Parameter Selection for Nonparametric Regression Estimation.”  (With Qi Li, Christopher Parmeter and Shuang Yao.)  Journal of Econometrics. 2015.

“Smooth Coefficient Estimation of a Seemingly Unrelated Regression.” (With Subal Kumbhakar, Qi Li and Christopher Parmeter.) Journal of Econometrics. 2015.

“Additive Nonparametric Regression in the Presence of Endogenous Regression.” (With Deniz Ozabaci and Liangjun Su.) Journal of Business and Economic Statistics. 2014.

“When, Where and How to Perform Efficiency Estimation.” (With Oleg Badunenko and Subal Kumbhakar.) Journal of the Royal Statistical Society, Series A. 2012.

“Growth Empirics without Parameters.” (With Chris Papageorgiou and Christopher Parmeter.) Economic Journal. 2012.

“Empirical Implementation of Nonparametric First-Price Auction Models.” (With John List, Daniel Millimet, Christopher Parmeter and Michael Price.) Journal of Econometrics. 2012.

“Nonparametric Estimation and Testing of Fixed Effects Panel Data Models.” (With Raymond Carroll and Qi Li.) Journal of Econometrics. 2008.

“Is Gravity Linear?” (With Daniel Millimet.) Journal of Applied Econometrics. 2008.

“Pollution Abatement Costs and Foreign Direct Investment Inflows to U.S. States: A Nonparametric Reassessment.” (With Daniel Millimet.) Review of Economics and Statistics. 2007.

“Human Capital and Convergence: A Production-Frontier Approach.” (With Robert Russell.) International Economic Review. 2005.

Instructor of Economics

Education:

Ph.D. University of Alabama, 2021, Economics

Specialty Fields:

Applied Time Series Econometrics, International Economics, International Finance

Selected Publications:

“Comovements in Military Spending: Evidence from a Dynamic Factor Model with Time-Varying Stochastic Volatility.” (With Junsoo Lee and James Payne.) Defense and Peace Economics. Forthcoming. 

“International Co-movements and Determinants of Public Debt.” (With Junsoo Lee, Vladimir Arcabic and Youngjin Yun.) Working Paper. 

"Co-movements in Sovereign Credit Default Swap." (With Junsoo Lee and Vladimir Arcabic.) Working Paper.

“Panel ADL Co-integration Model and its Application to the Defense-Growth Nexus.” Working Paper.

Harris Schlesinger Memorial Endowed Faculty Fellow

Associate Professor of Economics

Education:

Ph.D. Texas A&M University, 2006, Economics

Specialty Fields:

Microeconomic Theory, Behavioral Economics, Industrial Organization

Selected Publications:

“Contest Divisioning.” (With Phil Brookins.) Review of Economic Design. Forthcoming. 

“Prize Linked Savings Games: Theory and Experiment.” (With Pacharasut Sujarittanonta and Ajalavat Viriyavipart.) Games and Economic Behavior. May 2022. 

“Risk Preference Heterogeneity in Group Contests.” (With Phil Brookins.) Journal of Mathematical Economics. August 2021. 

“Comparative Risk Apportionment.” (With Liqun Liu and William Neilson.) Economic Theory Bulletin. January 2021.

“Market Making with Convex Quotes.” (With Hae-shin Hwang.) Finance Research Letters. November 2020. 

“Free Riders and the Optimal Prize in Public Good Funding Lotteries.” (With Zhe Yang.) Journal of Public Economic Theory. July 2020. 

“Political Business Cycles in a Dynamic Bipartisan Voting Model.” (With Matt Van Essen.) Mathematical Social Sciences. November 2019. 

“Risk Attitudes and Heterogeneity in Simultaneous and Sequential Contests.” (With Zhe Yang.) Journal of Economic Behavior & Organization. June 2017. 

“Risk Lovers and the Rent Over-investment Puzzle.” (With Chris Whaley.) Public Choice.  July 2015.

“Price Discrimination through Refund Contracts in Airlines.” (With Diego Escobari.) International Journal of Industrial Organization. May 2014.

“Persuasive Communication when the Sender’s Incentives Are Uncertain.” (With Carlos Oyarzun.) Journal of Economic Behavior & Organization. November 2013.

“Do Risk Lovers Invest in Self-Protection?” Economics Letters. November 2013.

“Indefinitely Repeated Contests with Incumbency Advantage.” (With Cary Deck and Zachary Dorobiala.) Working Paper. 

“Bundling in Advance Sales: Theory and Evidence from Round-Trip vs Two One-Way Tickets.” (With Diego Escobari and Nicholas Rupp.) Working Paper. 

“Bargaining over R&D Technology in Open Innovation.” (With Dongryul Lee.) Working Paper. 

Assistant Professor of Economics

Education:

Ph.D., University of Colorado, 2008, Economics

Specialty Fields:

Urban Economics, Public Finance

Selected Publications:

“Valuing Curb Appeal” (with Sriram Villapuram and Alan Tidwell.) Journal of Real Estate Finance and Economics. February 2020.

“Intergenerational Conflict, Ethnic Divisions and the Political Economy of Higher Education Funding.” (With Eric Brunner.) Journal of Urban Economics. January 2016.

“Agglomeration within an Urban Area.” (With Stephen Billings.) Journal of Urban Economics. January 2016.

“The Effect of Property Taxes on Vacation Home Growth Rates: Evidence from Michigan.” (With Randall Walsh.) Regional Science and Urban Economics. September 2013.

“The Location Quotient as an Estimator of Industrial Concentration.” (With Stephen Billings.) Regional Science and Urban Economics. January 2012. 

“A Non-parametric Test for Industrial Specialization.” (With Stephen Billings) Journal of Urban Economics. May 2012.

Marillyn Hewson Faculty Fellow

Professor of Economics

Education:

Ph.D., Michigan State University, 2007, Economics

Specialty Fields:

Industrial Organization, Applied Microeconomics

Selected Publications:

“Addictive Platforms.” (With Shota Ichihashi.) Management Science. February 2023. 

"Second-degree Price Discrimination by a Two-sided Monopoly Platform." (With Doh-Shin Jeon and Domenico Menicucci.) American Economic Journal: Microeconomics. May 2022.

"The Utilitarian-Maximin Social Welfare Function and Anomalies in Social Choice." (With Mark Schneider.) Southern Economic Journal. October 2020.

“Privacy and Personal Data Collection with Information Externalities.” (With Jay Pil Choi and Doh-Shin Jeon.) Journal of Public Economics. May 2019. 

“Net Neutrality, Network Capacity, and Innovation at the Edges.” (With Jay Pil Choi and Doh-Shin Jeon.) Journal of Industrial Economics. March 2018. 

"The Economics of the Right-to-be Forgotten." (With Jin-Yeub Kim.) Journal of Law and Economics. May 2017. 

"Two-Sided Platform Competition with Multihoming Agents: An Empirical Study on the Daily Deals Market." (With Hyunwoo Park and Jeongsik Lee.) Information Economics and Policy. December 2017. 

“Taming Drillers through Legislative Action: Evidence from Pennsylvania’s Shale Gas Industry.” (With Matthew E. Oliver.) Resource and Energy Economics. 2017. 

"Project Selection in NIH: A Natural Experiment from ARRA.” (With Hyunwoo Park and Jeongsik Lee.)

Research Policy. 2015.  

"Net Neutrality, Business Models, and Internet Interconnection." (With Jay Pil Choi and Doh-Shin Jeon.)

American Economic Journal: Microeconomics. 2015.  

“Export Growth and Credit Constraints.” (With Tibor Besedes and Volodymyr Lugovskyy.) European Economic Review. 2014.   

"Signaling, Learning and Screening Prior to Trial: Informational Implications of Preliminary Injunctions." (With Thomas. D. Jeitschko.) Journal of Law, Economics, and Organization 2013. 

“Dynamic Competition in Technological Investments: An Empirical Examination of the LCD Panel Industry.” (With Jeongsik Lee and Young-mo Lim.) International Journal of Industrial Organization. 2011. 

"Net Neutrality and Investment Incentives." (With Jay Pil Choi.) Rand Journal of Economics. 2010.

William White McDonald Family Distinguished Faculty Fellow

Professor of Economics

Education:

Ph.D. Michigan State University, 1991, Economics

Specialty Fields:

Econometrics, Applied Econometrics, Applied Macroeconomics

Selected Publications:

“A Comparison of the Female and Male Racial Disparities in Imprisonment.” (With P. Pecorino and A. C. Souto.) Journal of Economics, Race, and Policy. June 2023.

“Nature of Comovements in US state and MSA Housing Prices,” (With A. Tidwell, Y. Lu and P. Banerjee.) Real Estate Economics, January 2023.

“Smooth Structural Changes and Common Factors in Nonstationary Panel Data: An Analysis of Healthcare Expenditures.” (With S. Nazlioglu. M. Tieslau, M. C. Karul, and Y. You.) Econometric Reviews. December 2022. 

“Johansen-Type Cointegration Tests with a Fourier Function.” (With R. Pascalau, S. Nazlioglu and Y Yu.) Journal of Time Series Analysis. September 2022. 

“Stochastic Convergence of Per Capita Greenhouse Gas Emissions: New Unit Root Tests with Breaks and a factor Structure.” (With J. Payne, M.T. Islam and S. Nazlioglu.) Energy Economics. September 2022. 

“Comovements in Military Spending: Evidence from a Dynamic Factor Model with Time-Varying Stochastic Volatility.” (With H. Isomitdinov and J. Payne.) Defense and Peace Economics. August 2021.

“Testing for Stationarity with Covariates: More Powerful Tests with Non-Normal Errors.” (With S. Nazlioglu, C. Karul and Y. You.) Studies in Nonlinear Dynamics and Econometrics. March 2021.

“Time Varying Integration of the Sovereign Bond Markets in European Post-Transition Economies.” (With P. Šimović, M. Tkalec and M. Vizek.) Journal of Empirical Finance. March 2016. 

“A Unit-root Test Using a Fourier series to Approximate Smooth Breaks.” (With Walter Enders.) Oxford Bulletin of Economics and Statistics. August 2012.

“Does Solicitation Matter in Bank Credit Ratings?” (With Benton Gup and Winnie Poon.) Journal of Money, Credit and Banking. March 2009.

“Nonrenewable Resource Prices: Deterministic or Stochastic Trend?” (With John A. List and Mark Strazicich.) Journal of Environmental Economics and Management. January 2006.

“Minimum LM Unit Root Tests with Two Structural Breaks.” (With M. Strazicich.) Review of Economics and Statistics. November 2003.

"Unit Root Tests Based on Instrumental Variables Estimation." International Economic Review. (With P. Schmidt.) May 1994.

Associate Professor of Economics

Education:

Ph.D. Emory University, 2014, Economics

MS, Marquette University, 2008, Applied Economics

Specialty Fields:

Econometrics, Financial Economics, Monetary Economics and Empirical Macroeconomics

Selected Publications:

“Structural Sources of Oil Market Volatility and Correlation Dynamics.” (With Andre Harrison and Shamar Stewart.) Energy Economics. May 2023

“Encompassing Tests for Value at Risk and Expected Shortfall Multi-Step Forecasts Based on Inference on the Boundary.” (With Timo Dimitriadis and Julie Schnaitmann.) Journal of Financial Econometrics. Spring 2023. 

“On Fiscal and Monetary Policy-Induced Macroeconomic Volatility Dynamics.” Journal of Economic Dynamics and Control. June 2021. 

"Forecasting Short-Run Exchange Rate Volatility with Monetary Fundamentals: A GARCH-MIDAS Approach" (With You Yu.) Journal of Banking and Finance. July 2020.

“On Tail Fatness of Macroeconomic Dynamics.” Journal of Macroeconomics. December 2019. 

“Quantile-Based Asymmetric Dynamics of Real GDP Growth.” Macroeconomic Dynamics. March 2019. 

"Markov-Switching Quantile Autoregression: A Gibbs Sampling Approach." (With Richard Luger.) Studies in Nonlinear Dynamics and Econometrics. April 2018.

“Structural Volatility Impulse Response Function and Asymptotic Inference.” Journal of Financial Econometrics. March 2018. 

"Measuring Systemic Risk with Regime Switching in Tails." Economic Modelling. December 2017.

"Unfolded Risk-Return Trade-Offs and Links to Macroeconomic Dynamics" Journal of Banking and Finance. September 2017.

"Foreign Exchange Predictability and Carry Trade: A Decomposition Approach." (With Stanislav Anatolyev, Nikolay Gospodinov, and Ibrahim Jamali.) Journal of Empirical Finance. June 2017.

“Markov-Switching Quantile Autoregression.” Statistica Neerlandica. November 2016.

“A New Approach to Risk-Return Tradeoff Dynamics via Decomposition." (With David Frazier.) Journal of Economic Dynamics & Control. January 2016.

“Unfolded GARCH Models." (With Richard Luger.) Journal of Economic Dynamics & Control. September 2015.

“Modeling Time-varying Skewness via Decomposition for Out-of-sample Forecast.” International Journal of Forecasting. April-June 2015.

Professor of Economics

Education:

Ph.D. Iowa State University, 1998, Economics

Specialty Fields:

Decisions Under Risk and Uncertainty, Environmental Economics, Behavioral Economics, Game Theory

Selected Publications:

“The Social Contract in Miniature: How Virtual Bargaining Supports Team Production.” (With H. Zeitoun and N. Chater.) Academy of Management Review. July 2023.

“The Paradox of Social Interaction: Shared Intentionality, We-Reasoning and Virtual Bargaining.” (With N. Chater and H. Zeitoun.) Psychological Review. April 2022.

Incomplete Preferences, Willingness to Pay, Willingness to Accept, and Elicitation (With Robert Chambers and John Quiggin.) Economic Theory. 2021.

Justice in an Uncertain World: Evidence on Donations to Cancer Research. (With Zvi Safra and Sinong Ma.) Journal of Risk and Uncertainty. 2021. 

“Is allocation affected by the perception of others' irresponsible behavior and by ambiguity?” (With Zvi Safra and Sinong Ma.) Risk Analysis. 2019. 

“The Social Character of Moral Reasoning.” (With Nick Chater and Hossam Zeitoun.) Behavioral and Brain Sciences. 2019.

“Collusion in Bertrand versus Cournot competition: A Virtual Bargaining Approach.” (With Hossam Zeitoun and Nick Chater.) Management Science. 2018.

“Ambiguity and the Economic Rhetoric of Climate Change.” (With Robert Chambers.) Journal of Environmental Economics and Management. 2017. 

“Intrinsic Variability in Group and Individual Decision-Making.” (With Zvi Safra.) Management Science. 2016.

“Unwritten Rules: Virtual Bargaining as a Foundation for Social Interaction, Culture and Society.” (With Jennifer Misyak, Hossam Zeitoun, and Nick Chater.) Trends in Cognitive Science. 2014. 

“Food Scares in an Uncertain World.” (With Robert Chambers.) Journal of the European Economic Association. 2013.

“Buy Low, Sell High: Price Gaps and Neoclassical Theory.” (With Robert Chambers.)  Journal of Mathematical Economics. 2009. 

“Value of Reputation in the Chain-store Game with Multiple Incumbents.” International Journal of Industrial Organization. 2006.

“Eliciting the Core of a Supermodular Capacity.” (With R. Chambers.) Economic Theory. July 2005.

James Patrick and Elizabeth B. Hayes

Professor of Economics

Education:

Ph.D. Duke University, 1990, Economics

Specialty Fields:

Public Economics, Law and Economics

Selected Publications:

“Public Good Provision with Redistributive Taxation.” Economics and Politics. Forthcoming. 

“Signaling in the ‘Before’ Model of Final Offer Arbitration.” (With Amy Farmer.) Journal of Law, Economics and Organization. July 2023. 

“A Comparison of the Female and Male Racial Disparities in Imprisonment.” (With Junsoo Lee and Anne-Charlotte Souto.) Journal of Economics, Race and Policy. June 2023. 

“The Impact of Baumol’s Disease on Government Spending, Taxation, and Redistribution.” (With Christopher Mann.) Journal of Public Finance and Public Choice. April 2023. 

“Public Good Provision with Participation Costs.” (With John R. Conlon.) Journal of Public Economic Theory. April 2022. 

“Bargaining with Voluntary Transmission of Private Information: An Experimental Analysis of Final Offer Arbitration.” (With Michael Solomon and Mark Van Boening.) Journal of Economic Behavior and Organization. November 2021. 

“Discovery and Disclosure in a Signaling Model of Final Offer Arbitration.” (With Amy Farmer.) Journal of Legal Studies. June 2021. 

“Bridge Burning and Escape Routes.” Public Choice. September 2020. 

“Racial Disparity in U.S. Imprisonment across States and over Time.” (With Walter Enders and Anne- Charlotte Souto.) Journal of Quantitative Criminology. June 2019. 

“An Empirical Analysis of the Signaling and Screening Models of Litigation.” (With Mark Van Boening.) American Law and Economics Review. April 2018. 

“Supermajority Rule, the Law of 1/n and Government Spending: A Synthesis.” Public Choice. April 2018. 

“Individual Welfare and the Group Size Paradox.” Public Choice. July 2016.

“Olson’s Logic of Collective Action at Fifty.” Public Choice. March 2015. 

“Pretrial Bargaining with Asymmetric Information and Endogenous Expenditure at Trial.” (With Amy Farmer.) Journal of Legal Studies. January 2013.

“Fairness in an Embedded Ultimatum Game.” (With Mark Van Boening.) Journal of Law and Economics. May 2010.

“Monopolistic Competition, Growth and Public Good Provision.” Economic Journal. January 2009.

Dwight Harrigan Endowed Faculty Fellow in Natural Resource Economics

Professor of Economics

Education:

Ph.D., University of Maryland, 2005, Agricultural and Resource Economics

Specialty Fields:

Behavioral Economics, Field Experiments, Energy and Environmental Economics, Economics of Charity

Selected Publications:

“An Experimental Test of Fundraising Appeals Targeting Donor and Recipient Benefits.” (With J. List, J. Murphy, and A. James.) Nature: Human Behavior. October 2021. 

“Testing for Crowd Out in Social Nudges: Evidence from a Natural Field Experiment in the Market for Electricity.” (With A. Brandon, J. List, R. Metcalfe, and F. Rundhammer.) Proceedings of the National Academy of Sciences. August 2018. 

“Signaling Quality through Gifts: Implications for the Charitable Sector.” (With A. Lange and R. Santore.) European Economic Review. July 2017.

“Public Good Provision in the Presence of Heterogeneous Green Preferences.” (With M. Jacobsen and J. LaRiviere.) Journal of the Association of Environmental and Resource Economists. March 2017.

“Using Field Experiments in Environmental and Resource Economics.” (With J. List.) Review of Environmental Economics and Policy. Summer 2016.

“Using Field Experiments to Address Environmental Externalities and Resource Scarcity: Major Lessons Learned and New Directions for Future Research.” Oxford Review of Economic Policy. Winter 2014.

“Using Non-Pecuniary Strategies to Influence Behavior: Evidence from a Large-Scale Field Experiment.” (With P. Ferraro.) Review of Economics and Statistics. March 2013.

“Empirical Implementation of Nonparametric First-Price Auction Models.” (With D. Henderson, J. List, D. Millimet, and C. Parmeter.) Journal of Econometrics. May 2012.

“Is a Donor in Hand Better than Two in the Bush? Evidence from a Natural Field Experiment.” (With C. Landry, A. Lange, J. List, and N. Rupp.) American Economic Review. June 2010.

“A Fundraising Mechanism Inspired by Historical Tontines: Theory and Experimental Evidence.” (With A. Lange and J. List) Journal of Public Economics. September 2007.

“Using Lotteries to Finance Public Goods: Theory and Experimental Evidence.” (With A. Lange and J. List) International Economic Review. August 2007.

“Towards an Understanding of the Economics of Charity: Evidence from a Field Experiment.” (With C. Landry, A. Lange, J. List and N. Rupp) Quarterly Journal of Economics.  May 2006.

“Conspiracies and Secret Price Discounts in the Marketplace: Evidence from the Field.” (With J. List) RAND Journal of Economics. Autumn 2005.

Department Head of Economics, Finance, and Legal Studies

Professor of Economics

Education:

Ph.D., Southern Methodist University, 1994, Economics

Specialty Fields:

Experimental Economics, Public Finance

Selected Publications:

"How Dictators Use Information about Recipients." (With J. Buchanan.) Journal of Behavioral Finance. Forthcoming.

“The Role of Poverty Measurements in Achieving Educational Equity through School Finance Reform.” (With L. Taylor, S. Grosskopf and K. Hayes.) Journal of Productivity Analysis. October 2023.

“Encouragement, Experience and Spillover Effects in a Field Experiment on Teens' Museum Attendance.” (With L. Forastiere, P. Lattarulo, M. Mariani, and F. Mealli.) Journal of Business and Economic Statistics. 2021.

“Kids or Cash? Exploring Charter School Responses to Declining Government Revenues.” (With S. Grosskopf, K. Hayes, and L. Taylor.) Economic Inquiry. April 2020. 

“Best-of-Five Contest: An Experiment on Gender Differences.” (With S. Mago.) Journal of Economic Behavior & Organization. June 2019.

“Taking Aversion.” (With O. Korenok and E. Millner.) Journal of Economic Behavior and Organization. June 2018.

“Altruism and Feelings of Ownership.” (With O. Korenok and E. Millner.) Journal of Economic Psychology. 2017.

“The Paradox of Misaligned Profiling.” (With C. Holt, A. Kydd and R. Sheremeta.) Journal of Conflict Resolution. 2016.

“Taking, Giving, and Impure Altruism in Dictator Games.” (With O. Korenok and E. Millner.) Experimental Economics. 2014.

“Traffic Congestion: An Experimental Study of the Downs-Thompson Paradox.” (With E. Dechenaux and S. Mago.) Experimental Economics. 

“Impure Altruism in Dictators’ Giving.” (With O. Korenok and E. Millner.) Journal of Public Economics. 2013. 

“Congestion Allocation for Distributed Networks: An Experimental Study.” (With Y. Chen and T. Turocy.) Economic Theory. 2007.

“Auction-Like Mechanisms for Pricing Excludable Public Goods.” (With R. Deb.) Journal of Economic Theory. 1999.

Eubanks Professor of Real Estate and Professional Services

Professor of Economics

Education:

Ph.D. Pennsylvania State University, 1998, Economics

Specialty Fields:

Monetary Theory, Real Estate, Economic Development, Financial Intermediation

Selected Publications:

“Gross Capital Inflows, the U.S. Economy and the Response of the Federal Reserve.” (With A. Harrison.) Journal of International Money and Finance. Forthcoming. 

“Capital Flows to Developing Countries: Implications for Monetary Policy Across the Globe.” (With A. Harrison.) Review of International Economics. Forthcoming. 

“International Capital Flows, Liquidity Risk, and Monetary Policy.” (With A. Harrison.) Journal of Macroeconomics. Forthcoming. 

“Preventing Bank Panics: The Role of the Regulator’s Preferences.” (With J. Gao.) Canadian Journal of Economics. May 2023. 

“The Size Distribution of the Banking System and Financial Fragility.” (With J. Gao.) Journal of Money, Credit and Banking. April 2023. 

“Cryptocurrency, Security, and Financial Intermediation.” (With N. Glenn.) Journal of Money, Credit and Banking. February 2023. 

“Housing and the Labor Market.” Oxford Research Encyclopedia of Economics and Finance. May 2022. 

"Sunspot Bank Runs and Fragility: The Role of Financial Sector Competition." (With J. Gao.) European Economic Review. October 2021.

"Banking Competition, Capital Accumulation, and Interest on Reserves." (With E. Ghossoub.) Economic Inquiry. April 2021.

“Housing, Liquidity Risk, and the Effects of Monetary Policy.” (With E. Ume.) Journal of Macroeconomics. June 2019. 

“Banking Competition, Production Externalities, and the Effects of Monetary Policy.” (With E. Ghossoub.) Economic Theory. February 2019. 

“Monetary Policy and Investment Dynamics: Evidence from Disaggregate Data.” (With G. Givens.) Journal of Money, Credit and Banking. December 2018. 

“Mortgage Recourse Provisions and Housing Prices.” (With A. LaRue and E. Ume.) Regional Science and Urban Economics. November 2018. 

“Financial Development, Income Inequality, and the Distributional Effects of Monetary Policy.” (With E. Ghossoub.) Journal of Development Economics. May 2017. 

Professor of Law

Uniform Law Commissioner

Education:

LL.M., University of London, London School of Economics, 1997

J.D., Yale University, Yale Law School, 1994

B.S.I.L.R., Cornell University, School of Industrial and Labor Relations, 1991

Specialty Fields:

Corporate Governance, Corporate Social Responsibility, Derivatives, Financial and Business Entity Regulation, International Business Transactions, Securities Markets and Intermediaries

Selected Publications:

Justice Delayed, Justice Delivered: The Birmingham Sixteenth Street Baptist Church Bombing and the Legacy of Judge Frank Minis Johnson, Jr. (With Hon. W. Keith Watkins.) Alabama Law Review. 2020.

“Doing Business Report 2020.” (Contributor.) World Bank, International Finance Corporation.

“Doing Business Report 2019.” (Contributor.) World Bank, International Finance Corporation.

“Serving the Public with a Pen.” Alabama Law Review. 2018.

“Cooperation before Consolidation in Investor Protection.” Tulane Law Review. 2016.

“Limits on Exporting Corporate Social Responsibility through Domestic Regulation.” South Carolina Journal of International Law and Business.  2015. 

“Company Law and the Law of Succession.” American Journal of Comparative Law. 2014.

“Financial Intermediaries as Principals and Agents.” Wake Forest Law Review. 2013.

“Examining the Role of Settlements in the Enforcement Process by Financial Regulators: The Example of the United States Securities and Exchange Commission.” Testimony before the Committee on Financial Services of the United States House of Representatives, published in H. Rpt. 112-128.  2012.

“‘Who Killed Katie Couric?’ and Other Tales from the World of Executive Compensation Reform.”  Fordham Law Review. 2008.

“Mickey Can You Spare a Dime? DisneyWar, Executive Compensation, Corporate Governance, and Business Law Pedagogy.” Michigan Law Review. 2007.

“Fiduciaries.” Alabama Law Review. 2007.

“Lessons on Lawyers, Democracy, and Professional Responsibility.” Georgetown Journal of Legal Ethics. 2006.

“Panel Discussion: Celebrating Thirty Years of Market Regulation.” (With Brandon Becker, Robert Colby, Richard Ketchum, Andrew Klein, Catherine McGuire, Annette Nazareth, and Lee A. Pickard.) Fordham Journal of Corporate & Financial Law. 2004.

“Is There a Role for Lawyers in Preventing Future Enrons?.” (With Jill E. Fisch.) Villanova Law Review. 2003.

Reese Phifer Faculty Fellow

Associate Professor of Economics

Education:

Ph.D., Syracuse University, 2011, Economics

Specialty Fields

Urban Economics, Public Finance, Entrepreneurship, Real Estate Economics, Economics of Crime

Selected Publications:

"Conflict and Its Relationship to Climate Variability in Sub-Saharan Africa." (With Elizabeth A. Mack, Erin Bunting, James Herndon, Richard A. Marcantonio, and Andrew Zimmer.) Science and the Total Environment. June 2021.

"Do Tourists Tip more than Local Consumers? Evidence of Taxi Rides in New York City." (With Amir Borges, Nerreiera Neto and Adam Nowak.) International Regional Science Review. 2019.

"Police Incentives, Policy Spillovers, and the Enforcement of Drug Crimes." (With Greg DeAngelo and Kaj Gittings.) Review of Law and Economics. March 2018.

“The Impact of the Cost of Car Ownership on the Housing Price Gradient in Singapore.” (With Naqun Huang and Jing Li.) Regional Science and Urban Economics. January 2018.

“The Impact of Low Priority Laws on Criminal Activity: Evidence from California.” (With Anne Walker.) Contemporary Economic Policy. April 2017.

“Do Capital Tax Incentives Attract New Businesses? Evidence across Industries from the New Markets Tax Credit.” (With Kaitlyn Harger.)  Journal of Regional Science. November 2016. 

“Do New Sports Stadiums Attract New Businesses?” (With Kaitlyn Harger and Brad Humphreys.) Journal of Sports Economics. June 2016.

“Does Bankruptcy Law Affect Business Turnover?  Evidence from New and Existing Businesses.” (With Shawn M. Rohlin.) Economic Inquiry. January 2016.

“Entrepreneurship and Corruption: Evidence from Brazilian Municipalities.” (With Jamie Bologna.) Public Choice. October 2015.

“Housing Vouchers and the Price of Rental Housing.” (With Michael D. Eriksen.) American Economic Journal: Economic Policy. August 2015.

“Tax Avoidance and Business Location in a State Border Model.” (With Shawn M. Rohlin and Stuart S. Rosenthal.) Journal of Urban Economics, September 2014.

"The Impact of Housing Vouchers on Mobility and Neighborhood Attributes.” (With Michael D. Eriksen.)  Real Estate Economics. Summer 2013.

“Crime, Police, and Truth-in-Sentencing: The Impact of State Sentencing Policy on Local Communities.”  Regional Science and Urban Economics. January 2012.

“Violent Crime, Entrepreneurship, and Cities.” (With Stuart S. Rosenthal.) Journal of Urban Economics. January 2010.

Associate Professor

Education:

Ph.D. University of Connecticut, School of Business, 2015

Specialty Fields:

Behavioral Economics, Experimental Economics, Information Economics, Decision Theory

Selected Publications:

“A Decision Theoretic Foundation for Noise Traders and Correlated Speculation.” (With Manuel Nunez.) Decision Analysis. May 2023. 

"Motives for Cooperation in the One-Shot Prisoner's Dilemma." (With Tim Shields.) Journal of Behavioral Finance. June 2022.

"Reference Dependent Prices in Bargaining: An Experimental Examination of Precise First Offers." (With Erik Kimbrough and David Porter.) Journal of Economic Psychology. October 2021.

"Bargains, Price Signaling, and Efficiency in Markets with Asymmetric Information." (With Daniel Stephenson.) Games and Economic Behavior. July 2021.

"Salience and Social Choice." (With Jonathan Leland.) Experimental Economics. February 2021.

"A Bias Aggregation Theorem." Economics Letters. November 2020.

"The Utilitarian-Maximin Social Welfare Function and Anomalies in Social Choice." (With Byung-Cheol Kim.) Southern Economic Journal. September 2020.

"Temptation-biased Preferences for Risk and Time." Economics Letters. August 2020.

"Effects of Experience, Choice Architecture, and Cognitive Reflection in Strategyproof Mechanisms."(With David Porter.) Journal of Economic Behavior & Organization. March 2020. 

“Mean-Dispersion Preferences with a Specific Dispersion Function.” (With Manuel Nunez.) Journal of Mathematical Economics. October 2019. 

“Minimal Frames and Transparent Frames for Risk, Time and Uncertainty.” (With Jonathan Leland and Nathaniel Wilcox.) Management Science. September 2019. 

“Optimizing Choice Architectures.” (With Cary Deck, Mikhael Shor, Tibor Besedes, and Sudipta Sarangi.) Decision Analysis. March 2019.

“Ambiguity Framed.” (With Jonathan Leland, and Nathaniel Wilcox.) Journal of Risk and Uncertainty. October 2018. 

“Target Adjusted Utility Functions and Expected Utility Paradoxes.” (With Robert Day.) Management Science. January 2018. 

“A Simple Mean Dispersion Model of Ambiguity Attitudes.” (With Manuel Nunez.) Journal of Mathematical Economics. May 2015.

Ehney A. Camp, Jr. Endowed Chair of Finance and Investments

Professor of Finance

Education:

B.S., M.B.A., University of Michigan; Ph.D. University of Texas, 1987, Finance

Specialty Field:

Corporate Finance, Financial Markets, Financial Institutions

Selected Publications:

"CEO Performance Impact on Medical Leave Outcomes" (With Weiwei Zhang.) Journal of Banking and Finance. Forthcoming.

"CEO Selection and Executive Appearance." (With Shawn Mobbs.) Journal of Financial and Quantitative Analysis. June 2023. 

"Fund Flow-Induced Volatility and the Cost of Debt" (With Scott Luo.) Journal of Banking and Finance. January 2023.

"Does Perception of Social Issues Affect Portfolio Choices? Evidence from the #MeToo Movement." (With Shikong (Scott) Luo.) Financial Management. Summer 2022. 

"Operating Lease Obligations and Corporate Cash Management." (With Robert Kieshnick and Rabih Moussawi.) Journal of Corporate Finance. August 2021.

“Are Target Leverage Ratios Stable? Investigating the Impact of Corporate Asset Restructuring.” (With Xudong Fu and Tian Tang.) Journal of Empirical Finance. 2015. 

“The Effect of Liquidity and Solvency Risk on the Inclusion of Bond Covenants.” (With Xudong Fu and Tian Tang.) Journal of Banking and Finance. November 2014.

“Macroeconomic Conditions and Capital Structure Adjustment Speed.” (With Tian Tang.) Journal of Corporate Finance. 2009.

“On the Marketing of IPOs.” (With Robert Kieschnick and Robert Van Ness.) Journal of Financial Economics. October 2006.

“Monitoring as a Motivation for IPO Underpricing.” (With Onur Arugaslan and Robert Kieschnick.) Journal of Finance. 2004.

"On the Timing and Execution of Open Market Repurchases.” (With Laurie Krigman and Chris Leach.) Review of Financial Studies. 2004.

"Safe Harbor or Smoke Screen? Compliance and Disclosure Under SEC Rule 10b-18." (With Laurie Krigman and Chris Leach.) Journal of Business. 2003.

"Firm and Guarantor Risk, Risk Contagion and the Interfirm Spread Among Insured Deposits." (With Lewis Spellman.) Journal of Financial and Quantitative Analysis. 1996.

"Poison Put Bonds: An Analysis of Their Economic Role." (With John Easterwood.) Journal of Finance.  1994.

Bickley Endowed Teaching Chair in Risk Management & Insurance

Teaching Professor

Education:

Ph.D. University of South Carolina, 2000, Finance & Insurance

Specialty Fields:

Risk Management, Property and Casualty Insurance Issues

Selected Publications:

“Chuck, The Exterminator: A Teaching Case for Principles of Risk Management & Insurance.” (With D. Wood.) Journal of Risk Education. 2022.

“Emerging Issues in Assignment of Benefits.” (With J. Anderson-Parson.) Journal of Insurance Regulation. 2017.

“The Effect of Insurance Education on Consumer Attitudes: A Study of the Property/Casualty Industry.” (With B. Wells and J. Gibson). Journal of Financial Education. 2015.

“Case Study: Lutz Nutz.” (With D. Wood.) Journal of Applied Risk Management & Insurance. 2014.

“Amusement Central: A Case Study.” (With D. Wood.) Journal of Risk Education. 2013.

“From Meatpacking to Insurance: Lessons from Ethical Downfalls.” (With B. Wells and K. Braswell.) CPCU eJournal. 2009.

“Risky Asset Substitution in the Insurance Industry: An Historical Example.” (With L. Cox, M. McShane, and B. Wells.) Journal of Insurance Regulation. 2009.

“Mass Tort Litigation: The Case of Merck.” (With R. Martinez and B. Wells). CPCU eJournal. 2008.

“Employee Appearance Policies and Title VII: New Challenges for Sex Differentiated Standards.” (With R. Robinson, G. Franklin and N. Forbes Stowell.) Journal of Individual Employment Rights. 2007.

“The Supreme Court Rulings in Grutter v. Bollinger and Gratz v. Bollinger: A Brave New World of Affirmative Action in the 21st Century.” (With R. Robinson, and G. Franklin). Public Personnel Management. 2007.

“Market Discipline in Property/Casualty Insurance: Evidence from Premium Growth Surrounding Policyholder Rating Changes.” (With S. Harrington.) Journal of Money, Credit, and Banking. 2006.

“Narrowing the Legal Definition of Homosexual: Establishing Sexual Desire as a Motive for Same-Sex Sexual Harassment.” (With R. Robinson and D. Frink.) Journal of Individual Employment Rights. 2006.

Senior Instructor of Finance

Education:

Ph.D. University of Tennessee, 2009, Finance

B.S. University of Alabama, 2002, Finance

Specialty Fields:

Executive Compensation, Investments, Socially Responsible Investing, Financial Knowledge

Selected Publications:

“Bookcase: A Project Decision for a Public Library.” (With Don Mosley and Gwen Pennywell.) Journal of Applied Case Research. Fall 2014.

“Using Pitman Closeness to Compare Stock Return Models.” (With Al Chow and Gwen Pennywell.) International Journal of Business and Social Science. August 2014. 

“A Comparison of Energy Stock Return Models Using Pitman Closeness Criterion.” (With Al Chow and Gwen Pennywell.) International Journal of Service and Standards: Special Issue - Energy Hedging and Risk Management. September 2014.

“Financial Knowledge and Student Loan Usage in College Students.” Financial Services Review: The Journal of Individual Financial Management. Winter 2013.

“Impact of SOX on Bank CEO and Director Compensation.” (With Mike Ehrhardt and Harold Black.) Journal Financial and Economic Practice. Spring 2013.

“Exchange Traded Funds Market Reaction to Option Introduction.” (With Ken Hunsader and Ross Dickens.) Banking and Finance Review. December 2012.

“The Oil Industry's Stock Price Response to the Gulf Drilling Moratorium and other Events Surrounding the Deepwater Horizon Explosion.” (With Ken Hunsader and Ross Dickens.) The Coastal Business Journal. Spring 2012. 

Associate Professor of Finance

Education:

Ph.D. Boston College, 2016, Finance

Specialty Fields:

Corporate Finance, Corporate Innovation, Internal Capital Markets, and Mutual Funds

Selected Publications:

"Cross-Subsidization in Conglomerate Firms: Evidence from Government Spending Shocks." (With Darren Kisgen.) Journal of Financial and Quantitative Analysis. Forthcoming.

“Insider Trading and Shareholder Investment Horizons.” (With Xudong Fu, Lori Tang, and Xinyan Yan.) Journal of Corporate Finance. June 2020.

“Government Spending and Corporate Innovation.” Management Science. April 2020.  

“Top Management Human Capital, Inventor Mobility, and Corporate Innovation.” (With Thomas Chemmanur, Karthik Krishnan, and Qianqian Yu.) Journal of Financial and Quantitative Analysis. December 2019. 

“The Conglomerate Network.” (With Kenneth Ahern and Xinyan Yan.) Working Paper. 

“Human Capital, Management Quality, and Firm Performance.” (With Thomas Chemmanur, Karthik Krishnan and Qianqian Yu.) Working Paper.

“Product Consumption and Information Digestion.” (With Chengwei Wang.) Working Paper. 

"Inter-state Trade Network and Merger Propagation." (With Xinyan Yan.) Working Paper.

Assistant Professor of Finance

Education:

Ph.D. University of Iowa, 2014, Finance

Specialty Fields:

Corporate Finance, Mergers and Acquisitions, Innovation, and Human Capital

Selected Publications:

“Selling Durables: Financial Flexibility for Limited Cost Pass-through.” (With David Mauer and Emma Xu.) Journal of Corporate Finance. August 2022.

“Staffing Levels and COVID-19 Infections and Deaths in Korean Nursing Homes.” (With Jiyeon Lee, Juh Hyun Shin, Charlene A Harrington and Sun Ok Jung.) Policy, Politics, & Nursing Practice. February 2022.

"Human Capital Relatedness and Mergers and Acquisitions." (With David Mauer and Emma Xu.) Journal of Financial Economics. July 2018.

"Cross-border Mergers and Acquisitions amid Political Uncertainty: A Bargaining Perspective.” Strategic Management Journal. Auguest 2018.

“Dividend Stickiness, Debt Covenants, and Earnings Management.” (With Jaewoo Kim and Erik Lie.) Contemporary Accounting Research. September 2017.

“Local Labor Markets and Corporate Innovation.” (With Cheng Jiang, Kose John and Emma Xu.) Working Paper.

“Local Employment Opportunities and Corporate Retention Policies.” (With Kose John, Karin Thorburn and Emma Xu.) Working Paper.

“The Role of CEO Cognition in Cross-Border Acquisition Pace: Evidence from US Serial Acquirers.” (With Olivier Bertrand, Marie-Ann Betschinger and Emma Xu.) Working Paper.

John S. Bickley Faculty Fellow

Professor of Finance

Education:

Ph.D. University of Texas at Austin, 1977, Finance

CFA, CFP, CLU, CVA

Specialty Fields:

Financial Institutions and Markets, Personal Financial Planning

Selected Publications:

“Relative Performance of Real Estate Exchange-Traded Funds.” (With Kimberly R. Goodwin and Srinidhi Kanuri.) Journal of Real Estate Portfolio Management. October 2021. 

State Pension Reform: What Have They Accomplished?” (With Marty Hanby, Robert Tennant and Srinidhi Kanuri.) Journal of Accounting and Finance. December 2019. 

“Performance of Dividend ETFs During Bull and Bear Markets.” (With Srinidhi Kanuri and D. K. Malhotra.) The Journal of Index Investing. Summer 2017. 

“Sustainable Competitive Advantage and Stock Performance: The Case for Wide Moat Stocks.” (With Srinidhi Kanuri.) Applied Economics. May 2016. 

“An Empirical Examination of the Performance of Commodity Mutual Funds.” (With Srinidhi Kanuri and D. K. Malhotra.) The Journal of Wealth Management. Spring 2016. 

“Does it Pay to Diversify Internationally: U.S. vs International ETF’s”. (With Srinidhi Kanuri.) Financial Services Review. Fall 2015.

“Performance of Alternative Mutual Funds.” (With S. Kanuri.) Financial Services Review.  Summer 2014.

“Bad News Bears: Effects of Expected Market Volatility on Daily Tracking Error of Leveraged Bull and Bear ETFs.” (With H. Holzhauer, X. Lu and J. Mehran.) Managerial Finance. December 2013.

“Determinants of Cost Efficiencies in the Closed-End Fund Industry.” (With D.K. Malhotra and Rand Martin.) Financial Services Review. Summer 2009.

“Closed-End Fund Expenses and Investment Selection.” (With D.K. Malhotra.) Financial Review.    February 2000.

“An Analysis of Nondeductible IRA Contributions and Roth IRA Conversions,” (With S. Horan and J. Peterson.)  Financial Services Review.  Summer 1998.

"An Empirical Analysis of Mutual Fund Expenses.” (With D. K. Malhotra.) The Journal of Financial Research.  Summer 1997.

"A Reexamination of Equity Fund Expense Ratios and 12b-1 Plans.” (With D. K. Malhotra.) Journal of Financial Research.  Summer 1994.

"Interest Rates and Bank Portfolio Adjustments."(With P. Thistle and B. L. Conrad.) Journal of Banking and Finance. 1989.

Associate Dean for Faculty and Research

Thomas D. Russell Professor of Business

Professor of Finance

Education:

Ph.D. Vanderbilt University, 2008, Finance

Specialty Fields:

Corporate Governance, Executive Compensation, Mergers and Acquisitions 

Selected Publications:

“Influential Independent Director’s Reputation Incentives: Impacts on CEO Compensation Contracts and Financial Reporting.” (With Ronald W. Masulis.) Journal of Corporate Finance. October 2023. 

“CEO Selection and Executive Appearance.” (With Doug Cook.) Journal of Financial and Quantitative Analysis. June 2023. 

“CEO Marketability, Employment Opportunities, and Compensation: Evidence from Compensation Peer Citations.” (With Daewong Choi and David Cicero.) Journal of Financial and Quantitative Analysis. November 2022. 

“How Does Forced-CEO-Turnover Experience Affect Directors?” (With Jesse Ellis and Lixiong Guo.) Journal of Financial and Quantitative Analysis. June 2021.

“Overconfident Directors.” (With Randy Beavers.) Financial Management. June 2020. 

“Firm CFO Board Membership and Departures.” Journal of Corporate Finance. June 2018. 

“Is an Outside Chair Always Better? The Role of Non-CEO Inside Chairs on Corporate Boards.” Financial Review. October 2015.

“Tradeoffs between Internal and External Governance: Evidence from Exogenous Regulatory Shocks.” (With Patrick Lach and Lixiong Guo.) Financial Management. March 2015. 

“Independent Director Incentives: Where do Talented Directors Spend their Limited Time and Energy?” (With Ronald W. Masulis.) Journal of Financial Economics. February 2014.

“CEO’s Under Fire: The Effects of Directors on CEO Compensation and Turnover.” Journal of Financial and Quantitative Analysis. June 2013.

“Internal Managerial Promotions: Insider Incentives and CEO Succession.” (With Charu Raheja.) Journal of Corporate Finance. December 2012.

“Are All Inside Directors the Same? Do they entrench CEO’s or enhance board decision making?” (With Ronald W. Masulis.) Journal of Finance. June 2011.

“Social Media Use and the Director Labor Market: Evidence from Twitter.” (With Lixiong Guo.) Working Paper. 

“Derivatives and Governance.” (With Robert Brooks and Troy Pollard.) Working Paper.

Professor of Finance

Education:

Ph.D., University of Georgia, 2003, Finance

Specialty Fields:

Corporate Finance, Investments

Selected Publications:

“The Big Three and Board Gender Diversity: The Effectiveness of Shareholder Voice.” (With Todd Gormley, Vishal Gupta, David Matsa and Lukai Yang.) Journal of Financial Economics. Forthcoming. 

“Gender and Executive Job Mobility: Career Prospects for Executives Displaced by Acquisitions.” (With Xiaohu Guo, Vishal Gupta and Vikram Nanda.) Journal of Financial and Quantitative Analysis. Forthcoming.

“Short Sale Constraints and Corporate Investment: Cross-Country Evidence.” (With Xiaohu Deng, Vishal Gupta and Marc Lipson.) Journal of Financial and Quantitative Analysis. Forthcoming. 

“Hedge Fund Hold’em.” (With Yan Lu and Sugata Ray.) Journal of Financial Markets. 2022. 

“Is There a Racial Gap in CEO Compensation.” (With Xiaohu Guo, Vishal Gupta and William Jackson.) Journal of Corporate Finance. 2021. 

“CFO Gender and Financial Statement Irregularities.” (With Vishal Gupta, Bidisha Chakrabarty, Xiaohu Guo and Daniel Turban.) Academy of Management Journal. June 2020. 

“Do Women CEOs Face Greater Threat of Shareholder Activism Compared to Male CEOs? A Role Congruity Perspective.” (With V. Gupta, S. Han and S. Silveri.) Journal of Applied Psychology. 2018.

“Revisiting the Gender Gap in CEO Compensation: Replication and Extension of Hill, Upadhay, and Beekun’s (2015) Work on CEO Gender Pay Gap.” (With V. Gupta and X. Guo.) Strategic Management Journal. 2018. 

“The Post-Acquisition Returns of Stock Deals: Evidence of the Pervasiveness of the Asset Growth Effect.” (With M. Schill.) Journal of Financial and Quantitative Analysis. 2015.

“The Real Effects of Being Public: evidence from public and private firms.” (With N. Reisel.) Journal of Financial and Quantitative Analysis. 2013.

“On the Scope and Drivers of the Asset Growth Effect.” (With M. Lipson and M. Schill.) Journal of Financial and Quantitative Analysis. 2011.

“Do Firms Believe in Interest Rate Parity?” (With M. McBrady and M. Schill.) Review of Finance. 2010.

“Corruption. Political Connections and Municipal Finance.” (With A. Butler and L. Fauver.) Review of Financial Studies. 2009. 

“Liquidity and Capital Structure.” (With M. Lipson.) Journal of Financial Markets. 2009.

Robert Hunt Cochrane/Alabama Banker’s Endowed Chair of Banking

Associate Professor of Finance

Education:

Ph.D., Michigan State University, 2007, Finance

Specialty Fields:

Banking, Corporate Finance

Selected Publications:

“Doing Good when Doing Well: Evidence on Real Earnings Management.” (With W. Grieser and C. J. Hadlock.) Review of Accounting Studies. September 2021. 

“Hiring Your Friends: Evidence from the Market for Financial Economists.” (With C. J. Hadlock.) Industrial and Labor Relations Review. August 2021. 

“Robust Models of CEO Turnover: New Evidence on Relative Performance Evaluation.” (With C. E. Fee, C. J. Hadlock, and J. Huang.) Review of Corporate Finance Studies. March 2018.

“New Evidence on Managerial Labor Markets: An Analysis of CEO Retreads.” (With C. E. Fee and C. J. Hadlock.) Journal of Corporate Finance. February 2018. 

“Bank Debt, Flexibility, and the Use of Proceeds from Asset Sales.” (With C. E. Fee, H. Seo, and S. Yan), Journal of Financial Services Research. August 2014.

“Managers With and Without Style: Evidence using Exogenous Variation.” (With C. E. Fee and C. J. Hadlock.) Review of Financial Studies. March 2013.

“What Happens in Acquisitions? Evidence from Brand Sales and Advertising Expenditures.” (With C. E. Fee and C.J. Hadlock.) Journal of Corporate Finance. June 2012.

“New Evidence on Measuring Financial Constraints: Moving Beyond the KZ Index."(With C. J. Hadlock.) Review of Financial Studies. May 2010.

“Investment, Financing Constraints, and Internal Capital Markets: Evidence from the Advertising Expenditures of Multinational Firm.” (With C. E. Fee and C. J. Hadlock.) Review of Financial Studies. June 2009.

“Promotions in the Internal and External Labor Market: Evidence from Professional Football Coaching Careers.” (With C. E. Fee and C. J. Hadlock.) Journal of Business. March 2006.

“Business School Rankings and Business School Deans: A Study of Nonprofit Governance.” (With C. E. Fee and C. J. Hadlock.) Financial Management. Spring 2005.

Assistant Professor of Finance

Education:

Ph.D. University of Kentucky, 2023, Finance

Specialty Fields:

Corporate Finance, Financial Inclusion

Selected Publications:

"Racial Concordance in the Market for Financial Advice.” (With Chris Clifford and Will Gerken.) Review of Corporate Finance Studies. February 2023.

"Political Beliefs affect Compliance with Government Mandates.” (With Marc Painter.) Journal of Economic Behavior & Organization. May 2021.

“Public Financing and Racial Disparities: Do Rising Tides Always Lift All Boats?” Working Paper.

“Salience, Awareness, and the Takeover Attraction Effect of Information Bundling.” Working Paper.

“Filing Agents and Information Leakage.” (With Leonce Bargeron and Chris Clifford.) Working Paper.

Associate Professor of Finance

Education:

Ph.D., University of Pennsylvania, 2009, Finance

Specialty Fields:

Behavioral Finance, Asset Management, Real Estate

Selected Publications:

“Trading Simulations and Real Money Outcomes.” (With D. Anginer, N. Seyhun, and L. Xu.) Journal of Behavioral Finance. Forthcoming. 

"Paying for Performance in Public Pension Plans." (With Yan Lu and Kevin Mullally.) Management Science. August 2023. 

"Value Implications of REITing and De-REITing." (With D. Ling, A. Tidwell, and L. Xu.) Journal of Real Estate Finance and Economics. March 2023. 

"Hedge Fund Hold ’em." (With Y. Lu and S. Mortal.) Journal of Financial Markets. January 2022.

"Are Hedge Funds' Charitable Donations Strategic?" (With V. Agarwal and Y. Lu.) Journal of Corporate Finance. February 2021.

“How Do Personal Real Estate Transactions Affect Productivity and Risk Taking? Evidence from Professional Asset Managers.” (With D. Ling and Y. Lu.) Real Estate Economics. March 2021. 

"Prime (information) brokerage." (With N. Kumar, K. Mullally, and Y. Tang.) Journal of Financial Economics. August, 2020.

“Can Brands Circumvent Marketing Regulations? Exploiting Umbrella Branding in Financial Markets.” (With Y. Lu, D. Mitra, and D. Musto.) Marketing Science. 2020. 

“Sensation Seeking and Hedge Funds.” (With S. Brown, Y. Lu, and M. Teo.) Journal of Finance. December 2018. 

“Limited Attention, Marital Events, and Hedge Funds.” (With Y. Lu and M. Teo.) Journal of Financial Economics. December 2016

“Too Good to be True? An Analysis of the Options Market's Reactions to Earnings Releases.” (With Y. Lu.) Journal of Business, Finance & Accounting. July/August 2016 

“Under One Roof: A Study of Simultaneously Managed Hedge Funds and Funds of Hedge Funds.” (With V. Agarwal and Y. Lu.) Management Science. March 2016. 

“Informational Linkages Between Dark and Lit Trading Venues.” (With M. Nimalendran.) Journal of Financial Markets. January 2014. 

“The Downside of High Water Marks: An Empirical Study.” Journal of Investment Management. 2nd Quarter 2012

Instructor of Finance

Education:

Ph.D. Texas Tech University, 2023, Finance

Specialty Fields:

Venture Capital, Corporate Investment, Information Environment

Selected Publications:

“A test of market efficiency when short selling is prohibited: A case of the Dhaka Stock Exchange.” (With Steve Swidler.) Journal of Risk and Financial Management. October 2018.

“What impacts IPO underpricing? Evidence from the Dhaka Stock Exchange.” (With Raisul Islam.) International Journal of Business and Management. February 2018.

"Behavioral Factors Influencing Investment Decision of the Retail Investors of Dhaka Stock
Exchange: An Empirical Study." The Cost and Management Journal. February 2018.

“Association Between Firm Characteristics and Financial Disclosure: Evidence from Companies
Listed in Dhaka Stock Exchange.” The Cost and Management Journal. October 2016.

“An Analysis of Speed of Stock Price Adjustment to Market Wide Information.” Journal of Business Studies. August 2015.

“Disruptive Innovation and Firm Investment.” (With Will Armstrong and Laura Cardella.) Working Paper.

Alabama Association of Realtors Chair of Real Estate

Associate Professor of Finance

Education:

Ph.D., Georgia State University, 2011, Real Estate

Specialty Fields:

Housing, Commercial Real Estate, Valuation, Investments, Financial Planning

Selected Publications:

"Hidden Financial Costs of the Opioid Crisis: Evidence from Mortgage Originations." (With S. Luo.) The Journal of Real Estate Finance and Economics. May 2023

"Housing Performance and the Electorate." (With E. Cifci, J.S. Clements, and A. Jauregui.) Journal of Real Estate Research. February 2023

"Nature of Comovements in US State and MSA Housing Prices." (With Y. Lu, J. Lee, and P. Banerjee.) Real Estate Economics. January 2023

"Value Implications of REITing and De-REITing." (With D. Ling, S. Ray, and L. Xu.) The Journal of Real Estate Finance and Economics. March 2023.

"Is Commercial Real Estate Gendered?" (With E. Cifci, S. Mortal, and V. Gupta.) Journal of Real Estate Research. September 2022

“Does Political Uncertainty Affect Residential Development?” (With S. Luo and S. Clements.) The Journal of Real Estate Finance and Economics. October 2021.

"Does School Choice Program Affect Local Housing Prices?: Inter-vs. Intra-District Choice Program." (With H. Park, S. Yun, and C. Jin.) Cities. August 2021.

"Residential Housing Market and Bank Stability: Focusing on OECD and Emerging Asian Countries." (With S. Lee and C. Jin.) The Journal of Real Estate Research. June 2021.

"Valuing Curb Appeal." (With E. Johnson and S. Villupuram.) The Journal of Real Estate Finance and Economics. February 2020.

“Structural Breaks: A Shift of Roles in the Relationship between Real Estate and Regional Industry.” (With Changha Jin and Philip Seagraves.) Journal of Housing Research. April 2019. 

“Sample Selection Approaches to Estimating and Allocating House Transaction Funding Price Differentials.” (With A. Jauregui and V. Sah.) The Journal of Real Estate Finance and Economics. April 2019.

“Housing Preferences of Asian and Hispanic/Latino Immigrants in the United States: A Melting Pot or Salad Bowl.” (With Y. Wu, and V. Sah.) Real Estate Economics. December 2018.

“Cash and Distressed House Sales Price Discounts: Dual Sample Selection Spatial Interdependence Approaches.” (With A. Jauregui, V. Sah, and A. Narwold.) The Journal of Real Estate Finance and Economics. January 2018.

Assistant Professor of Finance

Education:

Ph.D. The University of Texas at Austin, 2017, Finance

Specialty Fields:

Empirical Corporate Finance, Institutional Investors, ESG Investing, Accounting Fraud

Selected Publications:

“Share Repurchases on Trial: Large Sample Evidence on Market Outcomes, Executive Compensation, and Corporate Finances.” (With Nicholas M. Guest and S. P. Kothari.) Financial Management. January 2023. 

“Product Differentiation, Benchmarking, and Corporate Fraud.” (With Audra Boone, William Grieser and Rachel Li.) Working Paper.

“Corporate ESG Profiles and Investor Horizons.” (With Laura Starks, and Qifei Zhu.) Working Paper.

“Funding, Investment and Wealth Equalization across Texas Public School Districts.” (With Melinda Petre.) Working Paper.

“Personal Convictions and ESG Investing.” (With Charlie Costello, Rachel Li, and Sugata Ray.) Working Paper.

William Cary Hulsey Faculty Fellow

Instructor of Real Estate

Education:

Ph.D. University of Mississippi, 1998, Finance

Specialty Fields:

Housing externalities, Principal/agent issues, moral hazard, AI valuation

Selected Publications:

“Sex and Selling: Real Estate Agent Gender, Bargaining, House Price and Liquidity.” (With Duong Pham and Geoffrey K. Turnbull.) Journal of Real Estate Finance and Economics. 2022.

“Mitigating Agency Costs in the Housing Market.”  (With Geoffrey K. Turnbull and Scott A. Wentland.)  Real Estate Economics. 2021. 

“Why Disclose Less Information? Toward Resolving a Disclosure Puzzle in the Housing Market.” (With Xun Bian, Justin Contat, and Scott A. Wentland.) Journal of Finance Real Estate and Economics. 2021.

“Foreclosure Externalities and Home Liquidity.” (With Xun Bian, Raymond T. Brastow, and Scott A. Wentland.)  Real Estate Economics. 2021.

“Restrictions versus Amenities: The Differential Impact of Homeowners Associations on Property Marketability.” (With Kimberly Goodwin, and Claire Reeves LaRoche.)  Journal of Property Research. 2020.

“Properties that transact at/or above listing price: Better broker, strategic pricing or just dumb luck?” (With Geoffrey K. Turnbull, and Velma Zahirovic-Herbert.) Journal of Real Estate Finance and Economics. 2020.

“Who Benefits from Targeted Property Tax Relief: Evidence from Virginia Elections?” (With Jeremy G. Moulton, and Scott A. Wentland.) Journal of Policy Analysis and Management. 2018.

“(What) do top performing real estate agents deliver for their clients?” (With Geoffrey K. Turnbull.) Journal of Housing Economics. 2018.

“Dynamic Spatial Externalities and Real Estate Liquidity,” (With Ray Brastow, and Scott Wentland.)  Journal of Real Estate Research. 2018.  

“The Role of Transaction Costs in Impeding Market Exchange in Real Estate.” (With Xun Bian, and Scott Wentland.) Journal of Housing Research. 2016.

“How Many Listings Are Too Many? Agent Listing Inventory and Sales Performance.” (With Xun Bian, and Geoffrey K. Turnbull, and Scott Wentland.) Journal of Housing Economics. 2015. 

“Commission Splits in Real Estate Transactions: An Agency Problem?” (With Xun Bian, and Abdullah Yavas).Journal of Real Estate Finance and Economics. 2015.

“Estimating the Effect of Crime Risk on Property Values and Time on Market: Evidence from Megan’s Law in Virginia.” (With Scott Wentland, and Ray Brastow.) Real Estate Economics. 2014.

“Efficiency and Incentives in Residential Brokerage.” (With Raymond T. Brastow, and Thomas Springer.)  Journal of Real Estate Finance and Economics. 2012.

Dai-ichi Life Endowed Chair of Actuarial Science

Assistant Professor of Actuarial Science

Education:

Ph.D. University of Wisconsin, 2019, Actuarial Science, Risk Management, and Insurance

Specialty Fields:

Insurer Diversification, Insurance Operations, Reserving, Data Analytics

Selected Publications:

“Paying for Expertise: The Effect of Experience on Insurance Demand.” (With V. Anand and T. Leverty.) Journal of Risk and Insurance. September 2021.

“Measuring diversification and risk in insurance underwriting.” (With T. Leverty.) Working paper.

“Market discipline and government guarantees: Evidence from the insurance industry.” (With Y. Deng, T. Leverty, and G. Zanjani.) Working paper.

“Rate regulation revisited: The impact of stringent rate regulation on insurance prices.” (With T. Leverty and J. Liu.) Working paper.

“The ignorance of crowds: Understanding loss reserving errors in the liability catastrophe of 1997-2001.” (With L. Powell and G. Zanjani.) Working paper.

“Strategic entry decisions in domestic insurance markets.” (With M. Ragin.) Working paper.

“Measuring Managerial Discretion in the Property-Casualty Insurance Industry.” (With M. Grace and T. Leverty.) Working paper. 

Frank Park Samford Chair of Insurance

Professor of Finance

Education:

Ph.D., University of Chicago, 2000, Economics.

Specialty Fields:

Insurance, Financial Institutions

Selected Publications:

"Economic Capital and RAROC in a Dynamic Model." (With D. Bauer.) Journal of Banking & Finance. April 2021.

"Dynamic Capital Allocation with Irreversible Investments." (With D. Bauer, S. Kamiya, and X. Ping.) Insurance: Mathematics and Economics. March 2019.

“What Drives Tort Reform Legislation? Economics and Politics of the State Decisions to Restrict Liability Torts.” (With Y. Deng.)  Journal of Risk & Insurance. December 2018.

“Egalitarian Equivalent Capital Allocation.”  (With S. Kamiya.)  North American Actuarial Journal.  September 2017. 

“The Marginal Cost of Risk, Risk Measures, and Capital Allocation.”  (With D. Bauer.)  Management Science.  May 2016.

“Economic Analysis of Risk and Uncertainty Induced by Health Shocks: A Review and Extension.”  (With T. J. Philipson.)  In Handbook of the Economics of Risk and Uncertainty, Volume 1. Elsevier. 2014. 

“Financial Pricing of Insurance.”  (With D. Bauer and R. D. Phillips.)  In Handbook of Insurance (2nd edition).  New York: Springer. 2013. 

“Insurance Risk, Risk Measures, and Capital Allocation: Navigating a Copernican Shift.”  (With M. R. Powers.) Annual Review of Financial Economics.  November 2013. 

“Catastrophe Bonds, Reinsurance, and the Optimal Collateralization of Risk Transfer.”  (With D. Lakdawalla.) Journal of Risk & Insurance.  June 2012. 

“An Economic Approach to Capital Allocation.”  Journal of Risk and Insurance.  September 2010. 

“Federal Financial Exposure to Catastrophic Risk.”  (With J.D. Cummins and M. Suher.)  In Measuring and Managing Federal Financial Risk.  University of Chicago Press. 2010. 

“Regulation, Capital, and the Evolution of Organizational Form in U.S. Life Insurance.”  American Economic Review.  June 2007. 

“Insurance, Self Protection, and the Economics of Terrorism.”  (With D. Lakdawalla.)  Journal of Public Economics.  September 2005. 

“Pricing and Capital Allocation in Catastrophe Insurance.”  Journal of Financial Economics.  August 2002.