Conditional value at risk (CoVaR) and marginal expected shortfall (MES) have been proposed as stock return based measures of the systemic risk created by individual financial institutions even though the literature provides no formal hypothesis test for detecting systemic risk. Our conclusion is...

The establishment of new accounting rules for expensing options would likely do more harm than good.

This study's estimates of the reduction in accidents from a ban on cell phone use while driving are both lower and less certain than previous studies indicate.

Requiring companies to expense options in the absence of any satisfactory method to evaluate their costs would be inconsistent with the principles and objectives of accounting.

Requiring companies to expense options in the absence of any satisfactory method to evaluate their costs would be inconsistent with the principles and objectives of accounting.

The establishment of new accounting rules for expensing options would likely do more harm than good.

This volume shows that the public policy concerns are not accidental, because such industries often embody two major and widely recognized forms of potential market failure.