This paper examines the agency conflict between mutual fund investors and mutual fund companies. Investors would like the fund company to use its judgement to maximize risk-adjusted fund returns. A fund company, however, in its desire to maximize its value as a concern has an incentive to take...

Several public K-12 and university systems have recently shifted from race-based affirmative action plans to race-neutral alternatives. This paper explores the degree to which race-neutral alternatives are effective substitutes for racial quotas using data from the Chicago Public Schools (CPS),...