This paper examines the mutual fund market as a market for the sale of management services using an unbalanced panel of 860 US equity funds over the 1976-1993 period. From among the performance measures for which investors have the necessary information to compute, we find that the Jensen...

This paper develops a model which explains the determinants of the management expenses charged by U.S. equity funds. The study shows that for high quality managers, an increase in quality is associated with higher fees. In contrast, as the quality of the lower quality managers deteriorates,...

This paper compares the performance of mutual funds managed by publicly-traded management companies with those managed by private management companies. We find that publicly-traded management companies invest in riskier assets and charge higher management fees than do the funds managed by...

The Integrated Land Use, Transportation, Environment (ILUTE) modelling system simulates the activities of agents within the Greater Toronto and Hamilton Area (GTHA) as they evolve over time. However, in its currently implemented form, ILUTE lacks an endogenous treatment of the labour market and...

The Integrated Land Use, Transportation, Environment (ILUTE) modelling system simulates the activities of agents within the Greater Toronto and Hamilton Area (GTHA) as they evolve over time. However, in its currently implemented form, ILUTE lacks an endogenous treatment of the labour market and...