Vassar Scholarship

There are numerous examples of assets with identical payout streams being priced differently. These violations of the law of one price result from two factors. First, investors have heterogeneous asset valuations so that if two groups of investors trade in...

Throughout the forty-year conflict over the Western Sahara, the United States has supported Morocco's occupation of the disputed territory. This overall policy has remained relatively consistent over time, yet constantly subjected to contestation. The debates over policy and various modes...

The 3.11 events in 2011 are historically the most destructive series of natural disasters to have ever hit the island nation of Japan. But while the international media has commended the bravery of survivors and applauded Japanese efforts to provide...

Throughout the 1990s-2000s, the number of international adoptions into the United States increased drastically, reaching a little over 20,000 international adoptions in 2002 with 25% being from China and 9% from South Korea (PRB, 2003). As these adoptees begin to...

I present a model that can transform discounts on closed-end mutual funds into a measure of investor sentiment about the ability of fund managers to beat the market. This measure of sentiment varies positively with capital flows into actively managed...