It is documented that fetal exposure to sexual hormones has long lasting effects on human behavior. The second-to-fourth digit ratio (DR) is a putative marker for prenatal exposure to testosterone (compared to estrogens) while in uterus, with higher relative exposure to testosterone resulting in...

A sender who has disclosable information with probability less than one may partially conceal bad news by choosing to withhold information and pooling with uninformed types. The success of this strategy depends on receivers' beliefs about the probability that the sender has disclosable news. In...

When financial regulators require banks to hold a higher ratio of equity capital to debt funding, banks incur short-term costs as they adjust their balance sheets and lose some of the advantages associated with their existing funding mix. They then seek to maintain post-tax income by, for...