In this paper, we put forth the notion of “Crisis Utility” as a way of estimating the tail risk of an asset or investment strategy. We believe that Crisis Utility is more functional than traditional, narrowly defined definitions of tail risk since it incorporates the concept of...

This paper ranks individual accounting researchers based on their research productivity in the most recent 6, 12, and 20 years. We extend prior individual faculty rankings by providing separate individual faculty research rankings for each topical area commonly published in accounting journals...

In this paper we rank 574 universities based on compensation paid to their faculty. The analysis examines universities both on a raw basis and on a cost of living adjusted basis. Rankings based on salary data and benefit data are presented. In addition rankings based on total compensation are...

Several articles have ranked states and other localities based on their desirability as a location for doing business. The importance of properly conducting these studies can not be overstated. An inappropriate “bad” ranking can have a significant negative economic impact on an area....

In a growing competitive business environment, many organizations have taken by adoption the strategic planning approach to an effort for business excellence. Implementation of proper strategies plays a vital role for organizations' success. Balanced scorecard is a suitable tool for designing...

For efficiently calibrating the correlation structure of a LIBOR market model (LMM) to market data, low-rank correlation parameterizations are necessary. In this paper we present a new simple approach for generating low-rank low-parametric forms from given full-rank parameterizations

This paper proposes an analytical framework for scheduling decisions of road travelers that takes into account probability weighting using rank dependent utility theory. The fundamental difference with the standard scheduling model based on expected utility is that the probabilities of arrivals...

In the evaluation of research quality conducted under ERA 2010 the sub-disciplines of econometrics and theory were rated more highly than the sub-disciplines of applied economics and other economics. The rating in each sub-discipline was benchmarked against a world standard, so the results...

We examine how winning an all-star award affects analyst behavior. Using a novel dataset on analyst rankings, we employ a regression discontinuity design that compares the research outputs of third-place all-star analysts and runner-up analysts who barely miss the distinction. We find that...

People are on the move in unprecedented numbers across the globe. How does migration affect local intergroup dynamics? In contrast to accounts that emphasize stereotypical features of groups as determinants of their treatment, we propose the social group reference dependence hypothesis: violence...