Short selling plays a unique role in financial markets. Short selling’s institutional structure is distinct from other types of trades, and short sellers have been shown to be more informed than other types of traders. This review discusses short sellers’ motivation, the institutional...

Cash flows between investors and funds are both cause and effect in a complex web of economic decisions. Among the issues at stake are the prospects and fees of the funds, the efforts and risk choices by the funds’ managers, the pricing and comovement of the assets they trade, the stability of...

This review surveys the literature on the economics of mutual funds in general, and open-end mutual funds in particular. This mutual fund design has been very successful, though it carries risks that have recently been realized at large scales. It also frustrates the analysis of performance in...