This paper studies the extent of feedback trading at the style level by hedge funds from both a positive and a normative perspective. We show that hedge funds continuously adjust their exposure to different risk factors conditional on the recent performance of these styles. The majority of funds...

This paper studies the level, determinants, and implications of the factor timing ability of hedge fund managers. We find that approximately 30% of hedge funds display factor timing ability on at least one factor, concentrated especially at the market, size, and bond factors. Better factor...

This paper examines the effect of incentives on the performance of darts players. We analyze four data sets comprising a total of 123,402 darts matches of professional, amateur, and youth players. The game of darts offers an attractive natural research setting, because performance can be...

Purpose: This paper documents a strong violation of the law of one price surrounding a large rights issue. Design/methodology/approach: If prices are right, the relation between the prices of shares and rights follows the outcome of a simple calculation. Findings: In the case of Royal Imtech...

Berger and Pope (2011) show that being slightly behind increases the likelihood of winning in professional and collegiate basketball. We extend their analysis to large samples of Australian football, American football and rugby matches, but find little to no evidence of such an effect for these...

In this chapter, we argue that game shows can be a useful source of data to study cooperative behavior. The unique combination of well-defined decision problems and large stakes makes game show data complementary to both experimental and field data. Over the past years, a number of TV shows have...

We examine gender differences in willingness to compete for high stakes. When strategic considerations are absent, we observe the well-known pattern that women are less likely to compete than men, but this difference derives entirely from women avoiding competition against men. When the decision...

Berger and Pope (2011) show that being slightly behind increases the likelihood of winning in professional and collegiate basketball. We extend their analysis to large samples of Australian football, American football and rugby matches, but find little to no evidence of such an effect for these...

We explore people's preferences for numbers in large proprietary data sets from two different lottery games. We find that choice is far from uniform, and exhibits some familiar and some new tendencies and biases. Players favor personally meaningful and situationally available numbers, and are...