We test whether signals of high aptitude offered to high school students shapes the course of their collegiate study. Mapping continuous raw scores from millions of Advanced Placement examinations onto the 1 to 5 integer scoring scale, we apply a regression discontinuity design to understand how...

We study the predictive power of approximately 2.5 million stock picks submitted by individual users to the "CAPS" website run by the Motley Fool company (www.caps.fool.com). These picks prove to be surprisingly informative about future stock prices. Indeed, a strategy of shorting stocks with a...

School choice systems aspire to delink residential location and school assignments by allowing children to apply to schools outside of their neighborhood. However, the introduction of choice programs affect incentives to live in certain neighborhoods, which may undermine the goals of choice...