The dramatic increase of direct-to-consumer advertising (DTCA) of prescription drugs created intensive debates on its effects on patient and doctor behaviors. Combining 1994-2000 DTCA data with the 1995-2000 National Ambulatory Medical Care Surveys, we examine the effect of DTCA on doctor...

What are the individual rewards to working in teams? This question extends across many production settings but is of long-standing interest in science and innovation, where the "Matthew Effect" suggests that eminent team members garner credit for great works at the expense of less eminent team...

In an economy characterized by financial repression, enhancing the legal system may hinder the development of some aspects of the financial sector, especially informal arrangements aiming at circumventing the repression. Using Chinese provincial data in the 1990s, we find that enhanced legal...

This paper studies peer-to-peer (p2p) lending on the Internet.Prosper.com, the first p2p lending website in the US, matches individuallenders and borrowers for unsecured consumer loans. Using transactiondata from June 1, 2006 to July 31, 2008, we examine what informationproblems exist on Prosper...