Recent Working Papers

Does Labor Contract Completeness Drive Unionization?  Some experimental Evidence  (Appendix) Draft dated January  8, 2008.

Short Selling and Mispricings When Fundamentals are Known Draft dated September  26, 2007.

Does Short Selling Assist the Post-IPO Decline of Closed-end Fund Premia? Draft dated September  21, 2007.

Noise-trading, Costly Arbitrage, and Asset Prices: Evidence from US Closed-end Funds  Draft dated August 30, 2005. Forthcoming, Journal of Financial Markets.

Noise-trader Risk: Does it Deter Arbitrage and Is it Priced? Draft dated September 12, 2005.

Sentiment and the Interpretation of News about Fundamentals Draft dated August 30, 2005. Forthcoming, ICFAI Journal of Behavioral Finance.

Why Only Some Industries Unionize: Insights from Reciprocity Theory Published in the Journal of Institutional Economics 1(1), 2005.

Closed-end Fund Discounts and Interest Rates: Positive Covariance After 1985 Draft Dated September 1, 2005.

Does Noise Trader Risk Limit Arbitrage Activities? Draft dated August 23, 2003.

Limited Arbitrage, Segmentation, and Investor Heterogeneity: Why the Law of One Price So Often Fails Draft dated August 28, 2003.

The Portfolio Allocation Effects of Investor Sentiment about the Ability of Managers to Beat the Market Draft dated February 3, 2003.