If one information service is more informative than another, then any agent values it more. In fact, the opposite implication is also true, and this characterization is the celebrated theorem of Blackwell. We present here a short proof. This is a correction of our earlier attempt.

Citation counts are widely used in academia in hiring, tenure, promotion, salary increases, merit pay as well as to rank departments, journals and authors. However, no previous study examined the factors that influence citations in finance journals. This article examines how the number of...

We examine the relationships among alcohol prices, consumption, and traffic fatalities using data across U.S. states from 1982 to 2000. Some previous studies have found large, negative associations between alcohol taxes and fatalities. However, commonly used price data suggest little or no...