This study compares liquidity costs of electronic and open outcry hard red winter wheat futures contracts traded side-by-side on the Kansas City Board of Trade. Liquidity costs are considerably lower in the electronic market than in the open outcry market. A new approach is used to estimate...

This paper tests whether performance persistence exists in the hedge fund industry in the sense that some funds have consistently higher returns than others. Several procedures are used to determine if performance persists. The results show that performance persists in hedge funds with some...

We investigate differences in profitability of three Aberdeen-influenced breeds, Angus, Red Angus, and American Aberdeen. Using data from North Dakota, we measure differences in birth weights, calving intervals, weaning weights, cow weights, and profitability. Weaning weights differ between...