We document the economywide extent of misconduct among financial advisers and the
associated labor market consequences. Seven percent of advisers have misconduct …

The past decade has witnessed remarkable technological innovations and a proliferation of
new business models in the real estate sector. However, much of the potential of these …

What do you want for yourself in the next five, ten years? Do your plans involve marriage,
kids, a new job? These are the questions a real estate agent might ask in an attempt to …

Fiduciary duty aims to solve principal-agent problems, and the United States is in the middle
of a protracted debate surrounding the merits of extending it to all financial advisers …

This article studies self‐preferencing in algorithmic recommendations on dominant
platforms, focusing on Amazon's dual role as platform owner and retailer. We find that …

Real and private-value assets—defined here as the sum of real estate, infrastructure,
collectibles, and noncorporate business equity—compose an investment class worth an …

We study the frictions in dealer-intermediation in residential real estate through the lens of
“iBuyers,” technology entrants, who purchase and sell residential real estate through online …

The real estate market is highly intermediated, with 90% of buyers and sellers hiring an
agent. However, low barriers to entry and fixed commission rates result in large market …

The seller's price concession reflects the existence of asymmetric information in the second-
hand housing market, and it is beneficial to study the influence of the broker's commission …

We investigate housing market distortions with the collusion of agents. The agency problem
where agents sell clients' houses with price discounts while selling their own homes with …