The derivation of observable implications of the conditional CAPM theory often includes the joint (internally inconsistent) hypothesis that the stock portfolio used in the tests is the theoretical, mean-variance efficient, market portfolio. The present paper generalizes this derivation by...

Teachers and mentors in creative fields ranging from scientific research to the arts may shape their students' skills and views of the craft, and in turn the work they produce. How significant is this influence, how long does it last, and are there consequences for the variety and quality of...

We study the classical problem of trade in two-dimensional Euclidean space. It is known that there is no efficient rule for this model that is compatible with dominant strategy incentives, that is, there is no efficient and strategy-proof rule. We observe that, in addition to incentive...

The size and the leverage of financial market investors and the elasticity of demand of unlevered investors define MinMaSS, the smallest market size that can support a given degree of leverage. The financial system's potential for financial crises can be measured by the stability ratio, the...

This research illuminates the historical development and clustering of creative activity in the United States. Census data is used to identify creative occupations (i.e., artists, musicians, authors, actors) and data on prominent creatives, as listed in a comprehensive biographical compendium....

I derive two valid forecasting models of the equity premium in monthly frequency, based on little more than no-arbitrage: A “predictability timing” version of partial least squares, given that predictability is theoretically time varying; and a least squares model with realized market...

Dollar carry trade risk premiums – unlike dollar-neutral or foreign exchange carry risk premiums – are positively correlated with firm-level dispersions in investment, profitability, and book-to-market in addition to the Treasury-bill rate, long term bond yield, term spread, and default...

Vaccines against COVID-19 are under development. As a scarce resource, the health authorities have to decide how to prioritise the vaccine in the target population. The aim of this paper is to explore the cost-effectiveness of a COVID-19 vaccine and to analyse how the vaccine price, and the cost...

The prevalence of metabolic risk factors that contribute to cardiovascular disease (CVD), such as hypertension and high plasma glucose levels have seen a substantial increase globally. Violence elevates stress and increases CVD risk and yet, there is sparse evidence on the relationship between...