Early onset of behavioural problems has lasting negative effects on a broad range of lifetime outcomes, placing large costs on individuals, families and society. A number of researchers and policy makers have argued that early interventions aimed at supporting the family is the most effective...

A number of researchers and policy makers have recently argued that the most effective way of dealing with long-run disadvantage and the intergenerational transmission of poverty is through early childhood intervention and in particular policies aimed at supporting the family. This study was...

This paper argues that the degree to which a given industry’s labor contracts are complete or incomplete is the major factor determining whether its workforce will be unionized. For instance, assembly line industries feature complete labor contracts because of the nature of the production...

Arbitrage pressures that could equalize closed-end fund share prices with fund portfolio values appear to be largely absent in an extensive data set. Observed fund behavior violates the static arbitrage bounds of Gemmill and Thomas (2002) and is inconsistent with the dynamic arbitrage bounds of...

There are numerous examples of assets with identical payout streams being priced differently. These violations of the law of one price result from two factors. First, investors have heterogeneous asset valuations so that if two groups of investors trade in segmented markets they are likely to...

The behavior of US closed-end funds is very different from that of UK funds. There is no evidence that the US funds' discounts are constrained by arbitrage barriers, no evidence that higher expenses increase discounts and no evidence that replication risk increases discounts but strong evidence...

Prior literature has found evidence that pleasant weather conditions (namely sunshine) lead to higher tip rates, presumably because pleasant weather improves the moods of either servers or patrons. But previous studies involved only a few dozen subjects on at most a handful of days. We remedy...

Consumers selected round prices and/or sales-totals at greater than chance levels across two different pay-what-you-want situations and one self-pumped gasoline purchase. The differences among these situations suggest that the tendency to select round prices/sales-totals reflects a subjective...