We propose a cohort model that evaluates hedge funds against peer groups executing similar investment strategies formed using return correlations. Our method improves identification of skilled managers, as evidenced by a strong ability to explain hedge fund returns out-of-sample together with...

We propose estimating gender peer effects in school by exploiting within-school variation in gender composition across birth cohorts. Our approach differs from the existing literature, which exploits variation in gender composition at a given grade level in different years. We argue that the...