Given adverse selection, durable goods that trade infrequently depreciate quickly. Consistent with this prediction I find an inverse relationship between depreciation and trading volume for less reliable brands of used business aircraft. Additionally, recent theoretical analyses suggest that...

"The untold story of how FDR did the unthinkable to save the American economy. The American economy is strong in large part because nobody believes that America would ever default on its debt. Yet in 1933, Franklin D. Roosevelt did just that, when in a bid to pull the country out of depression,...