A former investment banker examines the culture that incentivizes people in the industry to put their interests before their clients’. Part three in a...
In the last few decades, numerous studies in financial literature have been devoted to the question of “alpha”—that is, the ability of money managers...
If the large mutual funds are out to improve governance, why do they condone, if not encourage, seemingly excessive and performance-insensitive compensation packages? A new...
When calm, reasoned arguments, logical deductions, evidence and the like are not able to block Keynesian utility traps, ridicule might do the job.
Professional sports, like...
If lawmakers want to improve the dietary choices of Americans, the first thing they need to recognize is that the problem is not information.
(Note:...
Regulation and reputation are not independent of each other. Regulation can substitute, crowd out, or even implement the power of reputational concerns. A better understanding...
Most people in power choose nominees without any outside option, because such people are willing to do anything to be reappointed. Raghuram Rajan is...