This paper aims to contribute to the ongoing research on tree-shaped flow structures. Here, we focuses on porous-walled tree-shaped networks, namely the laminar fluid flow. Analytical models are developed for pressure distribution along the porous tree-network and for the hydraulic resistance...

Pattern formation and self-organization are phenomena that occur across the board, in animate and inanimate systems. In this paper, we rely on the constructal law to explain the generation of patterns (shapes, structures) in aggregates of organisms–pedestrian crowds and stony corals. In...

We use a new dataset to study how mutual fund flows depend on past performance across 28 countries. We show that there are marked differences in the flow-performance relationship across countries, suggesting that US findings concerning its shape do not apply universally. We find that mutual fund...

This paper studies the determinants of the domestic and the foreign bond biases and their evolution over time using aggregate bond allocation data from CPIS. Our results show that the home bias is prevalent across all countries, despite the decreasing of the domestic bias in most countries in...

This paper examines aggregate domestic and foreign equity allocations around the world using CPIS data. We analyze the cross-country determinants of the domestic and foreign equity bias and the evolution over time of these biases and their determinants. Economic development, restrictions on...

This paper studies the determinants of the domestic and the foreign bond biases and their evolution over time using aggregate bond allocation data from CPIS. Our results show that the home bias is prevalent across all countries, despite the decreasing of the domestic bias in most countries in...

We use a new dataset to study how mutual fund flows depend on past performance across 28 countries. We find that flows are convex with past performance, creating an incentive for managers to take excessive risk. The flow-performance convexity is less pronounced in countries with higher levels of...