We show theoretically that lower tail dependence (χ), a measure of the probability that a portfolio will suffer large losses given that the market does, contains important information for risk-averse investors. We then estimate χ for a sample of DJIA stocks and show that it differs...

We examine the response of foreign (i.e., non-South Korean) investors to escalating political conflict and its impact on the South Korean stock market surrounding 13 North Korean military attacks between 1999 and 2010. Using domestic (i.e., South Korean) institutions and individuals as...

Recent studies report that economic inequality is associated with reduced government expenditures on social programs. Several prominent social scientists, including Putman (Putnam, R., 2000. Bowling Alone. Simon and Schuster, New York), attribute this to the detrimental "psychosocial effects" of...

Discrimination's dynamic nature means that no single theory, method, data or study should be relied upon to assess its magnitude, causes, or remedies. Despite some gains in our understanding, these remain active areas of debate among researchers, practitioners and policymakers. The specially...

This authoritative and encyclopaedic reference work provides a thorough account of the public choice approach to economics and politics. The Companion breaks new ground by joining together the most important issues in the field in a single comprehensive volume. It contains state-of-the-art...