This paper investigates whether market makers rationally price out certain strategies at the expense of leaving other strategies profitable. We examine betting market outcomes in college football from over 14,000 games during 1985–2008. We find that favorites are statistically overpriced while...

This paper explores historical patterns of racial segregation and its relationship with the observed spatial variation in contemporaneous economic mobility established in Chetty et al. (2014). We combined data from the Equality of Opportunity Project with a novel measure of racial segregation...

A considerable fraction of college students and bachelor's degree recipients enroll in multiple postsecondary institutions. Despite this fact, there is scant research that examines the nature of the paths - both the number and types of institutions - that students take to obtain a bachelor's...

A considerable fraction of college students and bachelor's degree recipients enroll in multiple postsecondary institutions. Despite this fact, there is scant research that examines the nature of the paths – both the number and types of institutions – that students take to obtain a bachelor's...

This paper discusses the persistent myths that cloud our understanding of two politically charged themes that have been featured in discussions of the educational outcomes of Blacks: "Acting White" and Race Neutral Alternatives to Affirmative Action in postsecondary admissions. We discuss...

To the surprise of the residents of Kalamazoo, Michigan, the Kalamazoo Promise was announced on November 10, 2005. Fully funded by anonymous donors, the Kalamazoo Promise offers to pay both the tuition and mandatory fees of graduates of Kalamazoo public high schools at any public college or...

This paper investigates the impact of Texas's Top Ten Percent Rule - which grants automatic to any public college in Texas for Texas high school graduates who graduate in the top decile - and subsequent targeted recruitment programs initiated by Texas's flagship universities. Using data on SAT...

We exploit plausibly exogenous changes in the value of reserves in Texas's giant oil fields to determine the impact of crime in Texas counties that have reserves. Texas provides an ideal setting for this research strategy. First, Texas has the largest number of giant oil fields. Second, Texas's...