This paper uses administrative data on schooling and earnings from Texas to estimate quantile treatment effects of college quality on earnings. We proxy college quality using the college sector from which students graduate and focus on identifying how graduating from UT-Austin, Texas A&M or a community college affects the distribution of earnings relative to graduating from a non-flagship unive...

Across 6 studies, Whites expressed more negative attitudes toward strongly identified racial minorities than toward weakly identified minorities. Whites who personally endorsed worldviews that legitimize the status hierarchy were particularly likely to express negative attitudes toward strongly identified minorities relative to weakly identified minorities, whereas Whites who personally rejecte...

This paper makes indirect inference about the time-variation in expected stock returns by comparing unconditional sample variances to estimates of expected conditional variances. The evidence reveals more predictability as more information is used, more reliable predictability in indexes than large common stocks, and no evidence that predictability has diminished over time. A "strong-form" anal...

We investigate changes in US market sentiment using structural break analysis over a period of five decades. show that investor was trending and nonstationary from 1965 to 2001, associated with numerous crashes. Since has been substantially more mean reverting, implying the diminished effect noise investors their mispricing. illustrate how these persistence affect equity anomalies assess predic...

What are the prospects for long-run economic growth? One prominent line of thinking is trend toward stagnation. Stagnationism has a long history in economics, beginning prominently with Malthus and occasionally surfacing different guises. Prominent themes here following: Will growth slow perhaps even reverse under weight resource depletion? overpopulation diminishing returns lower living standa...

A 5-study investigation of reactions of dominant group members (i.e., White Americans) to diversity (relative to racial minority reactions) provides evidence of implicit and explicit associations between multiculturalism and exclusion and of a relationship between perceived exclusion and reactions to diversity. In Study 1, Whites but not racial minorities were faster in an implicit association ...

This paper proposes measures of systematic skewness and systematic kurtosis as symmetric measures of risk by extending the work of Kraus and Litzenberg (1976). We examine an asset pricing model that incorporates systematic skewness and systematic kurtosis to test the cross section of asset returns within the context of the Fama and MacBeth (1973) two-pass estimation methodology. However, this e...

This paper studies the effect of learning new information on peoples beliefs and their attitudes towards ambiguity. We propose a method to separate ambiguity attitudes from subjective probabilities and to decompose ambiguity attitudes into pessimism (capturing ambiguity aversion) and likelihood insensitivity. We apply our method in an experiment where we elicit the ask prices of options with pa...

Healthcare inequities exist across healthcare and have been shown to influence patient care outcomes. In the field of orthopaedic surgery, disparities manifest in realms postoperative pain management rehabilitation. Previous literature has demonstrated that socioeconomic status, sex, gender, race, ethnicity can precipitate a negative experience, manifesting as poorly managed undertreatment mino...

On 12 March 1994, SEBI imposed new norms on trading in the Bombay Stock Exchange, and the e ective consequence of this has been an elimination of badla, a form of forward trading. Without badla, the role of speculative traders on the BSE is diminished. This paper sets out to measure the impact of this elimination of speculative trading upon volatility on the BSE. We explore, and criticise, a va...