The links among better financial reporting, better markets, and better economy and society are arguable, but they remain poorly understood. The addition of IFRS to the set of available alternatives may improve these linkages, but granting them monopoly status does not. Claims that the universal...

The number of institutions and enrollment in higher education continue their rapid growth, but the quality of this education remains uncertain. A small number of state-subsidized institutions attract a thin top layer of talent from each year's cohort. High selectivity of admission to these elite...

The number of institutions and enrollment in higher education continue their rapid growth, but the quality of this education remains uncertain. A small number of state-subsidized institutions attract a thin top layer of talent from each year's cohort. High selectivity of admission to these elite...

Jamal and Sunder (1996) showed that the median prices in double auctions populated by zero-intelligence (ZI) traders whose trading limits are set by two biased heuristics tend to converge to the same equilibrium as if their trading limits were set by applying Bayes' Rule. This note provides an...

Growth of online auctions and other forms of e-commerce has been hampered by concerns about the privacy, integrity, and security of online transactions. To earn the trust of their participants, new e-commerce organizations, like traditional organizations, have to reach the state of expectations...