Stock exchanges around the world have integrated a hybrid trading system. This has added anonymity for traders, making it harder for market makers to match large continuous trades, leading to an increase in volatility and a decrease in informational efficiency. This occurs because less...

This document provides additional information about the data used in the study “Family Connections in Motorsports: The Case of Formula One,” and contains robustness checks on the main results, focusing on whether particular periods of Formula One racing are overly influential

In this paper, we examine the impact of unexpected natural disasters on the insurance industry. The industry is exposed to greater risks in states with large populations. Hence we normalize the unexpected disasters with the population of the state. We find evidence that total sales of the...

In this study, we examine how the market concentration in the insurance industry impacts employment and wages. We use panel data, with fixed effects, to find that a higher market concentration is associated with lower employment in the industry. Additionally, we find that market concentration is...

Using data to make future decisions can increase the odds of success in many aspects of life, however, using the data incorrectly can be worse than not using any data at all. In this study, I present a case where a collegiate football coach attempted to use data to enhance the chances of...

This study argues that endowments can be efficient, both for a finite-lived and infinitely-lived agent. When the lost utility from forgone consumption is less than the discounted utility brought by the cash flows paid throughout the endowment, endowments are utility enhancing. Given that this...

Often sports leagues, organizing committees, and team owners justify the use of public funds used to build sports stadiums by the perceived economic impacts and civic pride generated by the team or mega event. Since the 1980s, there have been many economic studies looking at the economic impact...

To search for eras in a sports league, we utilize time series tests with structural breaks to identify eras in Major League Baseball performance. Using data from 1871-2010, the mean and standard deviation of four different performance measures are examined to test if deterministic or stochastic...

Sequential order bias is often used to refer to timing biases in sequential order judging. However, there are two distinct biases within this structure: overall order bias, a bias throughout the event, and a sequential order bias, a judgment biased by the immediately preceding performance. I...

Different theoretical explanations have been developed for seemingly inconsistent actions that deal with varying levels of time and risk: Allais Paradox, present-bias, dynamic inconsistency, risk aversion, prospect theory, and the utility of gambling, for example. This study develops a simple...