While the paper implicates this problem to unintended consequences of COPPA, I would lay more of the blame on Facebook for not properly validating members' ages. While this perhaps would not be in Facebook's financial interests, it seems to be that these results demonstrate that by not doing this, they are in fact not meeting the spirit of the COPPA law. To make an analogy, suppose a law gave a...

Persistence is studied in a financial context by mapping the time evolution of the values of the shares quoted on the London Financial Times Stock Exchange 100 index (FTSE 100) onto Ising spins. By following the time dependence of the spins, we find evidence for power law decay of the proportion of shares that remain either above or below their 'starting' values. As a result, we estimate a pers...

We investigate the large-volatility dynamics in financial markets, based on the minutely and daily data of the Chinese Indices and German DAX. The dynamic relaxation both before and after large volatilities is characterized by a power law, and the exponents p± usually vary with the strength of the large volatilities. The large-volatility dynamics is time-reversal symmetric at the minutely time ...

Financial regulatory reform was recently signed into law by President Obama, as the United States continues to emerge from one of the most devastating financial crisis in its history. While reform was needed, there is much debate over how to implement a stronger regulatory framework that will underpin the financial ecosystem. The recent crisis exposed the information asymmetry between regulator...

Financial incentives of various kinds have been suggested to alleviate the chronic shortage of transplantable organs in the United States. This paper analyzes the possible consequences of financial incentives on organ supply. We show that under current practice and current law (which are not the same), inducements to donate organs or to register as an organ donor may lead to a decline in the su...

Persistence is studied in a financial context by mapping the time evolution of the values of the shares quoted on the London Financial Times Stock Exchange 100 index (FTSE 100) onto Ising spins. By following the time dependence of the spins, we find evidence for power law decay of the proportion of shares that remain either above or below their 'starting' values. As a result, we estimate a pers...

The finance-growth nexus is discussed with respect to possible conclusions from economic history, contributions from economic theory as well as recent empirical crosscountry studies. Then, a new proxy for financial development is introduced, which refers to the input of real resources into the financial system. Based on this proxy, an empirical framework is elaborated to clarify the importance ...

Ownership and trade emerge from anarchy as evolutionary stable strategies. In these evolutionary game models, ownership status provides an endogenous asymmetrizing criterion enabling cheaper resolution of property conflicts. †Assistant Professor, Columbia University, 615 Uris Hall, 3022 Broadway, New York, NY 10027. The author acknowledges financial support from the Brown and Bain Fellowship in...