Published Papers

Large Blocks of Stock: Prevalence, Size, and Measurement, (with Jennifer Dlugosz, Rudiger Fahlenbrach, and Paul A. Gompers), forthcoming in Journal of Corporate Finance, 2006.

Saving for Retirement on the Path of Least Resistance, (with James J. Choi, David Laibson, and Brigitte Madrian) in Ed McCaffrey and Joel Slemrod eds., Behavioral Public Finance: Toward a New Agenda, Russell Sage, 2005.

Passive Decisions and Potent Defaults, (with James J. Choi, David Laibson, and Brigitte Madrian) in David Wise ed., Analyses in the Economics of Aging, University of Chicago Press, 2005, 59-78

Employee Investment Decisions about Company Stock, (with James J. Choi, David Laibson, and Brigitte Madrian) in Olivia S. Mitchell and Stephen P. Utkus eds., Pension Design and Structure: New Lessons from Behavioral Finance, Oxford University Press, 2004, 121-136

For Better or For Worse: Default Effects and 401(k) Savings Behavior, (with James J. Choi, David Laibson, and Brigitte Madrian) in David Wise ed., Perspectives in the Economics of Aging, University of Chicago Press, 2004, 81-126

Optimal Defaults, (with James J. Choi, David Laibson, and Brigitte Madrian), American Economic Review: Papers & Proceedings 93(2), May 2003, 180-185.

Estimating the Returns to Insider Trading: A Performance-Evaluation Perspective, (with Leslie A. Jeng and Richard Zeckhauser), The Review of Economics and Statistics, May 2003, 453-471.

Corporate Governance and Equity Prices, (with Paul A. Gompers and Joy L. Ishii), The Quarterly Journal of Economics 118(1), February 2003, 107-155.

Defined Contribution Pensions: Plan Rules, Participant Choices, and the Path of Least Resistance, (with James J. Choi, David Laibson, and Brigitte Madrian) in James Poterba ed., Tax Policy and the Economy, MIT Press, 2002, 67-113.

"How Does the Internet Affect Trading? Evidence from Investor Behavior in 401(k) Plans", (with James J. Choi and David Laibson), Journal of Financial Economics 64(3), June 2002, 397-421.

"DEMES: Database on the Economics and Management of Endangered Species" (with David W. Cash, JR DeShazo, Todd Schatzki, Stuart Shapiro, and Martin L. Weitzman) , in Protecting Endangered Species in the United States, Jason F. Shogren and John Tschirhart, eds., Cambridge University Press, 2001, 374-380.

"Should Investors Avoid All Actively Managed Mutual Funds? A Study in Bayesian Performance Evaluation", (with Klaas Baks and Jessica Wachter), The Journal of Finance 56(1), February 2001, 45-86.
(Supplement: Matlab programs for Bayesian performance evaluation -- click here to download a zipped file.)

"Institutional Investors and Equity Prices" (with Paul A. Gompers), The Quarterly Journal of Economics 116(1), February 2001, 229-259.

"Performance Evaluation with Transactions Data: The Stock Selection of Investment Newsletters", The Journal of Finance 54(5), October 1999, 1743-1775.

"Price Versus Quantity: Market Clearing Mechanisms when Consumers are Uncertain about Quality" (with Richard Zeckhauser), The Journal of Risk and Uncertainty 17(3), December 1998, 215-242.

"Conflicts and Choices in Biodiversity Preservation" (with Martin Weitzman), The Journal of Economic Perspectives 12(3), Summer 1998, 21-34.

"Irreversible Investment and Strategic Interaction", (with Antonio Fatás), Economica 64, February 1997, 31-47.

"March Madness? Strategic Behavior in NCAA Basketball Tournament Betting Pools", Journal of Economic Behavior and Organization 30, August 1996, 159-172.

"Patterns of Behavior in Endangered Species Preservation" (with Martin Weitzman), Land Economics 72(1), February 1996, 1-16.

"A Natural Experiment in 'Jeopardy!'", American Economic Review 85(1), March 1995, 240-253.

"Fictitious Play in 2x2 Games: A Geometric Proof of Convergence" (with Ben Polak), Economic Theory 4, November 1994, 923-933.