Edlund and Korn [2002] (EK) proposed that prostitutes are well paid and that the wage premium reflects foregone marriage market opportunities. However, studies of street prostitution in the U.S. have revealed only modest wages and considerable risks of disease and violence, casting doubt on...

Edlund and Korn [2002] (EK) proposed that prostitutes are well paid and that the wage premium reflects foregone marriage market opportunities. However, studies of street prostitution in the U.S. have revealed only modest wages and considerable risks of disease and violence, casting doubt on...

CEOs with large networks earn more than those with small networks. An additional connection to an executive or director outside the firm increases compensation by about $17,000 on average, more so for ldquo;importantrdquo; members such as CEOs of big firms. Pay-for-connectivity is unrelated to...

Using detailed publication and citation data for over 50,000 articles from 30 major economics and finance journals, we investigate whether network proximity to an editor influences research productivity. During an editor's tenure, his current university colleagues publish about 100% more papers...

We present direct evidence of information spillovers through transactions prices in real estate markets. This behavior is not explained by common shocks to housing values. The effect is strongest in homogenous markets, where the information content of price is higher. The effect is weakest among...

We find that a small set of financial columnists has a causal effect on short-term aggregate stock market prices. For some journalists ("bulls") the market reaction is consistently positive, whereas for others ("bears") it is negative. Because bulls and bears are rotated exogenously in our...

Using individual patient records for every hospital in California from 1983-2011, we find a strong inverse link between daily stock returns and hospital admissions, particularly for psychological conditions such as anxiety, panic disorder, or major depression. The effect is nearly instantaneous...

It is challenging to disentangle the causal impact of media reporting from the impact of the events being reported. We solve this problem by comparing the behaviors of investors with access to different media coverage of the same information event. We use zip codes to identify 19 mutually...

We explore whether personal connections between employees at firms and banks influence lending and borrowing practices. Such firm-bank connections predict large concessions in interest rates, comparable to single shifts in credit ratings. Personal relationships also predict larger loan amounts...