We study a model with restricted investor participation in which strategic arbitrageurs reap profits by exploiting mispricings across different market segments. We endogenize the asset structure as the outcome of a security design game played by the arbitrageurs. The equilibrium asset structure...

Using a rich, nationally representative data set with a large sample of minorities and matched small area characteristics, we explore differences in life satisfaction for ethnic groups living in UK. We test the hypothesis that minorities will be less satisfied, which will in part be explained by...

It has long been accepted that lack of social participation in wider society is one aspect or one definition of poverty. Current concerns with the extent and distribution of social capital as both a measure of a good society and as means to upward mobility also emphasise the importance of social...

The introduction of the Research Governance Framework for Health and Social Care by the Department of Health in 2001 extended the reach of research governance from the NHS, where reviewing arrangements were already well established, into universities and local authorities, who were requested in...

In order to understand why so little media attention was paid to risks in the banking sector in the run up to the financial crisis, we need to understand the framework of law, regulation, self-regulation and professional incentives that structure the practice of financial and business...

Current projections of long-term trends in Atlantic hurricane activity due to climate change are deeply uncertain, both in magnitude and sign. This creates challenges for adaptation planning in exposed coastal communities. We present a framework to support the interpretation of current long-term...