This article utilizes panel data on leading Thoroughbred sires from 1999 until 2008 and estimates the determinants of their stud fees, or the price paid for the rights to one breeding season, and the marginal value of those characteristics. Using a Fixed Effects (FE) estimation procedure, we...

In rank-order tournaments, undesirable but output-enhancing activities, such as cheating, may occur. Cheating may be especially tempting when one player has an advantage over another. We show that when audit probabilities are low (high), the leading (trailing) player has more incentive to cheat....

The article experimentally investigates individuals’ choice behavior between privacy and security. In a convenience sample of undergraduate and graduate students, we find that most individuals choose to sacrifice a moderate amount of privacy in exchange for a moderate increase in security. A...

Paper was previously titled "The Informativeness of Prices as Quality Signals in the Thoroughbred Industry"

Prices transmit information regarding the underlying quality of a product; when quality is unknown to both buyers and sellers, theory predicts that the same price should be charged for all products. However, in the Thoroughbred industry, difference fees are charged to breed to freshman sires,...

Many Thoroughbred stallions are being bred to increasing numbers of mares. This practice raises the question of how progeny value is affected by an increased supply of foals by the same sire, which ultimately influences the sire’s value. This paper addresses that question. Three of the...

Characteristics of farm level yield and revenue loss that is systemic with yield and revenue loss at the county, state, and U.S. level are examined using farm yields from the Illinois and Kansas farm business management associations. The data begins with 1972. Share of yield and revenue loss...