We develop a model of gestational surrogacy, in which a childless couple faces heterogeneous prospective surrogates. High-type surrogates add more value but also have higher outside options. Surrogates can make specific investments for the overall well-being (care) of the unborn child. We show...

The subprime crisis has shown us again that actual shocks in stressed markets are much more severe than historical scenarios. In this paper, we compare stress tests for foreign exchange positions, based on hypothetical scenarios, across a number of VaR methods. We conclude that volatility...

When we invoked the example of the US National Basketball Association's (NBA's) scheme for redistribution of new talent as a model offering lessons for a possible future global social support system we hoped that we would stimulate debate. Consequently, we are very grateful to Goldblatt and...

Background: Global food prices have risen sharply since 2007. The impact of food price spikes on the risk of malnutrition in children is not well understood.Objective: We investigated the associations between food price spikes and childhood malnutrition in Andhra Pradesh, one of India's largest...