We find that the low average returns to firms with high asset growth are consistent with two key implications of models of diagnostic investor expectations (e.g., Bordalo, Gennaioli, La Porta, and Shleifer, 2019) that formalize the representativeness heuristic of Kahneman and Tversky (1972)....

Several smaller economies such as Ethiopia, Rwanda, and Senegal are showing that African transformations can be as rapid as those in Asia. These economies deserve international recognition and support because they will inspire others through example. But Sub-Saharan Africa's prospects will...

Bus Rapid Transit (BRT) systems have existed for more than 50 years, but they are still uncommon and unfamiliar. This review article synthesizes the findings of 42 papers which have discussed reasons for the slow adoption of BRT. Eleven causes were identified and the causes are usually different...