When banks experience payment defaults to their loan portfolios it makes them question their ability to screen risky borrowers, according to research by Prof. Justin Murfin. They compensate by writing stricter loan contracts for current borrowers.


Geert Rouwenhorst is probably best known as one of the first to hail the virtues of commodities as a bona fide asset class helping fuel the proliferation of commodities indexes and the ETFs that have followed them in the past decade or so.


Art and money have been making news lately.


Imagine that you are watching an outdoor theater production while sitting on the grass. You have difficulty seeing, so you prop yourself up on your knees. Soon everyone behind you does the same. Eventually, most people are kneeling or standing, yet they are less comfortable than they were before and have no better view. Everyone should sit down, and everyone knows it, but no one does.


The Behavioral Economics Annual Meeting brought economists from around the world to discuss the latest research.


In his new book, Professor Robert J. Shiller argues that finance should play a larger role in helping society achieve its goals.


James Choi and co-authors have received the sixteenth annual TIAA-CREF Paul A. Samuelson Award for their paper, "Why Does the Law of One Price Fail?" The paper finds that the average investor does not understand the importance of mutual fund fees in investment decisions.