This book was written on the occasion of the fiftieth anniversary of the founding of the Regional Science Association International (RSAI). It is the central commemorative memento of the Association's first 50 years. The book was coauthored by a team of a number of the leading scholars in the...

This paper evaluates the Morningstar mutual fund ranking system. We find that indeed higher Morningstar ratings are associated with higher returns on the portfolios including respectively five-, four-, three-, two- and one-star funds only (STAR5 to STAR1). We then perform an unconditional and...