We use a quasi-experimental research design to study the introduction of a relative performance evaluation without introducing relative performance pay. The setting is a fi rm in which workers are paid piece rates and where, at some point, management begins to reveal to workers their relative...

Police agencies devote vast resources to minimising the time that it takes them to attend the scene of a crime. Despite this, the long-standing consensus is that police response time has no meaningful effect on the likelihood of catching offenders. We revisit this question using a uniquely rich...

An influential literature has used the aftermath of terrorist attacks to estimate large effects of police street deployment on crime. However, the elasticities obtained in these settings may not easily extrapolate to more standard circumstances. This paper exploits a natural experiment that...

Tenured public officials such as judges are often thought to be indifferent to the concerns of the electorate and, as a result, potentially lacking in discipline but unlikely to pander to public opinion. We investigate this proposition empirically using data on promotion decisions taken by...

Tenured public officials such as judges are often thought to be indifferent to the concerns of the electorate and, as a result, potentially lacking in discipline but unlikely to pander to public opinion. We investigate this proposition empirically using data on promotion decisions taken by...

This paper studies how investors react to public messages that may be optimistically biased. We first construct a communication game between an investor and a (possibly) biased securities analyst. We find an equilibrium characterised by the following properties: first, the investor reacts more...