This paper proposes a new explanation of the negative correlation between VIX betas and expected stock returns documented by Ang et al. (2006). While the relation has been widely cited as the proof that market volatility risk is priced in the cross-section of stocks, we find this view highly...

With the rapid growth of e-commerce, financial products are being brought onto online platforms. However, due to the scarcity of data in this new product domain, online platforms face challenges in predicting users' purchase behavior. In this paper, we study whether we can "transfer'' knowledge...

This paper studies the effects of changing from Pre-exam to Post-exam rank order lists submission on matching outcomes in Turkish college admissions. A conceptual framework illustrates that such reform in the constrained Deferred Acceptance mechanism improves matching stability in two ways: (i)...

This paper provides both theoretical and empirical studies on the incentive effect of peer recognition on online content provision. Our theoretical model illustrates how a Bayesian influencer strategically determines her online contribution. Using unique data from the largest Chinese...

The outbreak of COVID-19 has caused huge disruptions to the world economy. As a number of countries make progress in containing this outbreak, some of them have started to reopen their economy. We study the curves of recovery after reopening the economy, using a unique real-time dataset of daily...