The links between individual ability, human capital investment, and labor productivity are generally hard to address because productivity is unobservable. We overcome this problem by examining artist productivity as reflected in art auction prices. First, we observe an inverted-U shaped...

Psychological evidence predicts that sunny weather is associated with an upbeat mood. Although standard economic theory presumes invariant preferences and full rationality, the finance literature has documented a strong relationship between morning sunshine in the city of a country's stock...