A common feature of historical episodes in which integration was successful, as well as episodes where integration was unsuccessful, is the aggravated harassment of the early pathbreakers who put themselves at risk by violating the previous segregated norm. Examples abound including Jackie...

The central tension in securities regulation is between protecting investors and enabling broad capital formation. Focusing on VC fund managers, we study key tools of investor protection in private markets: enforcing relationship-based fundraising and restricting eligible investors. A new policy...

The inflow of refugees and their subsequent integration can be an important challenge for both the refugees themselves and the host society. Policy interventions can improve the lives and economic success of refugees and of their communities. In this paper, we review the socioeconomic...

Common culture and common language facilitate trade between people. Minorities have incentives to become assimilated and to learn the majority language so that they have a larger pool of potential trading partners. The value of assimilation is larger to someone from a small minority than to one...

This paper uses a new data set on child-adoption matching to estimate the preferences of potential adoptive parents over U.S.-born and unborn children relinquished for adoption. We identify significant preferences favoring girls and unborn children close to birth, and against African-American...