This paper documents and explains the existence of grade non-disclosure policies in Masters in Business Administration programs, why these policies are concentrated in highly-ranked programs, and why these policies are not prevalent in most other professional degree programs. Related policies,...

Security markets between generations are incomplete due to a biological trading constraint' that prevents living generations from negotiating contingent contracts with the unborn. This paper shows, however, that government policy can be used to replicate the trades that would have occurred if...