We test whether signals of high aptitude offered to high school students shapes the course of their collegiate study. Mapping continuous raw scores from millions of Advanced Placement examinations onto the 1 to 5 integer scoring scale, we apply a regression discontinuity design to understand how...

Managers conducting earnings conference calls display distinctive styles in their word choice. Some CEOs and CFOs routinely use qualifying words such as "approximately", "probably", and "maybe". They are vague talkers. Straight talkers, by contrast, use such words less frequently. Analysts and...