With the advancement of medical sciences, knowledge transfer will become easier and cheaper. It may alter the way we traditionally think about relative wages. In this paper, we formalize this process with a labor model in which the cost of knowledge transfer and preferences over occupation are...

We use industry data to determine whether crowding of the investment space is caused by portfolio construction processes typical to the investment community. In particular, this paper examines the extent that transaction cost models cause crowding of the investment space, even when the...

The objective of this paper is to explore and identify inflation as it is embedded in a broad range of asset classes beyond simply TIPS, oil, gold and real estate. The analysis is conducted primarily from the perspective of a United States investor however the results are validated across a...

The Black-Litterman model has gained popularity in applications in the area of quantitative equity portfolio management. Unfortunately, many recent applications of the Black-Litterman to novel aspects of quantitative portfolio management have neglected the rigor of the original Black-Litterman...