After forty years of school consolidation, the preponderance of the evidence, including the results presented in this paper, suggest that the race to reap returns to scale and specialization in education may have come at a high price. This paper uses newly available STAR test score data from...

We assess the diverse roles of institutional investors in impacting survival and performance of chronically underperforming firms and contrast the results for consistently overperforming firms. We find material differences in institutional investor roles between these two samples....

In a complex economy, production is vertical and crosses jurisdictional lines. Goods are often produced by a global or national firm upstream and improved or distributed by local firms downstream. In this context, heightened products liability may have unintended consequences for consumer...

We show that under arguably plausible assumptions regarding the DNA exoneration process, in expectation, the ratio of DNA exoneration rates across races among defendants convicted for the same crime in the same state provides an upper bound on the ratio of wrongful conviction rates across races...