We study 852 companies with dividend reinvestment plans in 1999 matched by total assets to 852 companies without such plans. We use discrete choice methods to predict the classification of these companies. We interpret the misclassified companies as being likely to switch their plan status. That...

We conduct an empirical investigation to explain observed differentials in mortgage overage pricing. Our analysis makes several contributions. First, we study an area of mortgage pricing that is little understood by consumers and has received little scrutiny in the literature. Second, we...

We develop a discrete choice recursive model that classifies companies with and without dividend reinvestment plans with 72.0% accuracy. Misclassified companies are more likely to switch their plan status within the next five years, suggesting that financial statements foreshadow changes in plan...

Research on moral hazard and adverse selection indicates that restricting the ability of lenders to price loans could result in less credit being extended to those in the riskiest credit tier. Given that blacks have worse credit than similarly situated whites, then they would be worse off if...

Research on moral hazard and adverse selection indicates that restricting the ability of lenders to price loans could result in less credit being extended to those in the riskiest credit tier. This has several implications for mortgage lending and overages in particular. First, given that blacks...