Nothing worthwhile in life can be accomplished alone; it takes a group of individuals working effectively together – cooperating – in order to accomplish what none could accomplish alone. Unfortunately, cooperation is risky. The risk inherent in cooperation is captured by the idea of a social...

Many tests of asset pricing models address only the pricing predictions - but these pricing predictions rest on portfolio choice predictions which seem obviously wrong. This paper suggests a new approach to asset pricing and portfolio choices, based on unobserved heterogeneity. This approach...

Disposition effect is one phenomenon in behavioral finance that describes investor tendency to sell winner stocks too early and hold loser stocks too long. The purpose of this paper is to examine the disposition effect from investor perspective when they respond to short-run and long-run return...

We examine the allocation of a limited pool of matching funds to public good projects using Quadratic Funding. In particular, we consider a variation of the Capital Constrained Quadratic Funding (CQF) mechanism proposed by Buterin, Hitzig and Weyl (2019) where only funds in the matching pool are...