We examine the causal effect of managerial litigation risk on managers' disclosure of earnings warnings in the face of large earnings shortfalls. Exploring the staggered adoption of universal demand (UD) laws as an exogenous decrease in litigation risk, we find that the adoption leads to a...

A prototype of hydraulic free piston engine has been developed to achieve efficient energy conversion directly from chemical energy of fuel to hydraulic energy. In stable running condition, in order to verify the features of this kind of engine, the piston dynamics, combustion process and...

We characterize a parametric family of application-rejection school choice mechanisms, including the Boston and Deferred Acceptance mechanisms as special cases, and spanning the parallel mechanisms for Chinese college admissions, the largest centralized matching in the world. Moving from one...