We investigate the relationship between pricing in an initial public offering (IPO) and the prestige of the participating underwriters' law firm. We hypothesize law firm quality affects how law firms perform their obligations in IPOs - more prestigious law firms acting more independently....

We use data on fatal crashes to quantify the risk of distracted driving. We repurpose, extend, and improve a methodology used to estimate the riskiness of drinking drivers (Levitt and Porter 2001). Our analysis suggests that distracted drivers are three times more likely to cause a fatal crash...

Examining the global reinsurance market for catastrophic losses, we propose a new theory of optimal risk sharing that finds its inspiration in the economic theory of the firm. Our model offers a theoretical foundation for the vertical and horizontal tranching of insurance contracts (also known...