Berger and Pope (2011) show that being slightly behind increases the likelihood of winning in professional and collegiate basketball. We extend their analysis to large samples of Australian football, American football and rugby matches, but find little to no evidence of such an effect for these...

We conduct three lab experiments and use field data from the Dutch Math Olympiad to study how the gender gap in willingness to compete evolves in response to experience. The main result is that women are more likely than men to stop competing if they lose. In the Dutch Math Olympiad, this means...

We develop a new likelihood-based approach to sign trades in the absence of quotes. It is equally efficient as existing MCMC methods, but more than 10 times faster. It can deal with the occurrence of multiple trades at the same time, and noisily observed trade times. We apply this method to a...

Speeding up the exchange does not necessarily improve liquidity. The price quotes of high-frequency market makers are more likely to meet speculative high-frequency "bandits", thus less likely to meet liquidity traders. The bid-ask spread is raised in response. The recursive dynamic model...