There is little research on whether new information is correctly synthesized in prediction markets. Previous studies have found evidence consistent with, but have not proved, gambler misperceptions on the existence of momentum effects in the NBA. I use novel momentum measures that, unlike prior...

This study examines the effects of home-state unemployment rates on attrition behavior of Navy enlistees for successive career windows during the first term of service: the first 6 months, the second 6 months, the second year, and the third year of service. The results indicate that attrition is...

In light of the current economic crisis, we estimate hazard models of divorce to determine how state and national unemployment rates affect the likelihood of divorce. With 89,340 observations over the 1978-2006 period for 7633 couples from the 1979 NLSY, we find mixed evidence on whether...

We assess whether black-white disparities in commitments to prison or diversions to treatment for drug offenders in California can be explained by differences in the characteristics of criminal cases and whether case characteristics are weighed differently by race. We also examine whether the...