This paper introduces a two-stage interactive cobweb model with information diffusion. The additional stage of information diffusion leads to a possibility of up to five equilibria. Stability properties under learning remain similar to those under a model with one-way information diffusion, but...

We examine the relationship between college athletic scholarships and adolescent use of performance enhancing drugs. Annually, 4.5 million male high school athletes compete for about 132,000 athletic scholarships o_ered by NCAA Division I and II universities. Estimates from a probit model of...

We develop and empirically test a model of intercollegiate athletic department expenditure decisions. The model extends general dynamic models of nonprice competition and includes the idea that nonprofit athletic departments may simply set expenditure equal to revenues. Own and rival prestige is...

Drawing largely on educational literature outside of economics, we provide a survey of perspectives on alternative teaching methods. We then report results regarding the effectiveness of various alternative methods such as cooperative learning, class discussions, and the use of multimedia...

Drawing largely on educational literature outside of economics, we provide a survey of perspectives on alternative teaching methods. We then report results regarding the effectiveness of various alternative methods such as cooperative learning, class discussions, and the use of multimedia...

Recent literatures on entrepreneurship and economic growth estimate the empirical relationships between the following pairs of variables: (1) institutions and entrepreneurial activity; (2) institutions and economic growth; and (3) entrepreneurship and economic growth. This paper revisits each of...

This paper exploits a unique dataset on corruption and informal sector employment in 476 Brazilian municipalities to estimate whether corruption impacts GDP or income levels once variation in informal economic activity is taken into account. Overall, I find that higher levels of corruption and a...

Conditional information ratios (CIR) measure lower partial performance of a portfolio conditional to the distribution of returns on the benchmark. The Information Curve plotted by a serial CIR provides an overall view of performance especially under downside scenarios. The CIR approach is...

The Economic Freedom of the World (EFW) index is extensively used in academic research to show how economic freedom relates to a wide array of economic and social outcomes. Given this, it is important that researchers understand the goal of the index and how to properly utilize this index in...

To solve the dependency problem between factors, in the context of linear multi-factor models, this study proposes an optimal procedure to find orthogonalized risk premia, which also facilitates the decomposition of the coefficient of determination. Importantly, the new risk premia may diverge...