We test for the existence of gender bias in power relationships. Specifically, we examine whether police officers are less likely to issue traffic tickets to men or to women during traffic stops. Whereas the conventional wisdom, which we document with surveys, is that women are less likely to...

We examine the effects of the regulation of dual agency in residential real estate transactions, for 10,888 transactions in Long Island, New York in 2004–2007. We find that dual agency has an overall null effect on sale price, but includes two opposing forces where buyer and seller interests...

We examine the impact of two post-9/11 airport security measures—baggage screening and federalization of passenger screening—on demand for air travel in the United States. Exploiting the phased introduction of security measures across airports, we find that baggage screening...

We study 33 pairs of advertising agencies that merged between 1947 and 1985, comparing each merging pair against two controls: (a) a pair of agencies with combined merger-date billings close to the total billings of the merged unit, and (b) a single agency with similar total merger-date...

In the audit literature, it was postulated that audit firms are differentiated due to their quality and, thus, the fees charged are a function of quality. We hypothesize that this may lead to audit firm specialization in different amounts of auditing, lending to a differential audit fee...

This article uses a uniquely rich project-level data set to analyze determinants and trends of foreign direct investment (FDI) flows to the Southern African Development Community region. We control for the source of the investment, the sector in which the investment is undertaken, and the...

We hypothesize that multinational firms operating in emerging markets transfer technology to local suppliers to increase their productivity and to lower input prices. To avoid hold-up by any single supplier, the foreign firm must make the technology widely available. This technology diffusion...

We investigate whether capital market imperfections constrain investment during an emerging market financial crisis. Both large currency devaluations and banking sector failures characterize recent crises. Although a currency devaluation should increase exporters' competitiveness and investment,...