Preference disaggregation aims at capturing preference models by decomposing indirect preference information that are in form of holistic choices or judgments. From a multiple criteria decision aiding perspective, such information is taken as input to an inference procedure that yields to a...

The VIX barely drops at macro-announcements. This is at odds with virtually all models that attempt to explain the "macro-announcement premium." We point out that the macro-announcement sample is too small, considering the high volatility and fat tail of daily returns. Our small-sample argument...

Using micro-level household mortgage data, I measure dispersion in the credit quality of borrowers in the housing market and show that it forecasts regional real economic activity. I provide empirical evidence that associates the predictive power of dispersion with heterogeneity in the exposure...