The study outlines fees and investment returns for state pension funds. The study concludes that states with the highest fees, as a percent of assets, had the lowest returns. The study shows a passive index mimicking state fund asset allocations provides higher returns. Private equity funds and...

The study compares the financial results and operating performance of publicly owned water and sewer utilities in the United states. At present, the industry has few objective measurement, and fewer studies, that enable such utilities to measure performance

This study compares SAT scores and spending per capita for eleven county school systems that have similar demographics. It thus avoids the measurement problems of many education measurement studies that compare different demographics, or "apples versus oranges."

State pension funds with highest asset management fees have lowest investment returns. This defeats the purpose of using outside asset managers. States are better off indexing the public and alternative asset portfolios

This short paper reviews the distribution of Maryland thoroughbred racing purses for 2007. It shows the majority of purses go to out of state owners. The upcoming Maryland referendum on slot machines allocates up to $100 million per year to higher purses. The rationale is based upon the often...