Mutual Fund Expense Disclosures: A Behavioral Perspective

Mutual funds have enjoyed phenomenal growth with their numbers exceeding the number of public companies and their assets aggregating in excess of $9 trillion. Increasingly they are the investment instrument of choice by the proverbial widows, widowers and orphans, and a few school teachers are included as well. But how are best can that choice be one that is not only informed but informed in a way more likely to elicit a wise decision? This paper examines from a behavioral perspective how regulation can best disclose information related to two key factors for investors to compare competing mutual funds: fund returns and fund expenses. Our analysis reflects that the current disclosure process is deficient because it fails to reflect the insights of research on judgment and decision making, and particularly the need to distinguish between the availability of information and its processability by its user. The message of our article is straightforward: if regulators adhered to the insights provided by our paper, not only investors, but also the fund\u27s directors, would be greatly empowered so that better returns and lower costs could be expected

Elation generalised quadrangles of order (s,p), where p is prime

We show that an elation generalised quadrangle which has p+1 lines on each point, for some prime p, is classical or arises from a flock of a quadratic cone (i.e., is a flock quadrangle).Comment: 14 page

The Effects of School Board Consolidation and Financing on Student Performance

Over the last 20 years, states and provinces have become increasingly involved in the financing and administration of elementary and secondary education. Local school boards, however, still retain control over key aspects of the provision of education. Historically, these boards were organized at the community level so as to meet the wants of the local community. Today, states and provinces have become more interested in consolidating school boards and moving to a more centralized funding scheme. Do these changes result in improved student achievement? This paper attempts to answer these questions by examining the school board consolidation and funding changes instituted by the province of Ontario. We differentiate the effects of the policy changes based on observed differences in the school boards prior to consolidation. We show that students in previously high wealth school boards perform worse after the policy change compared to students in previously low wealth school boards.school district consolidation; student achievement

ART 310 Ceramics

Course syllabus for ART 310 Ceramics Course description: Covers basic concepts of clay handling, including handbuilding, wheel methods, glaze formulation, and firing techniques. May be repeated with approval of instructor

ART 310 Ceramics

Course syllabus for ART 310 Ceramics Course description: Covers basic concepts of clay handling, including handbuilding, wheel methods, glaze formulation, and firing techniques. May be repeated with approval of instructor

Title Guaranty Funds: Symptom, Cure or Nostrum?

This article is an adaption of an address given at a dinner held jointly by the Indiana Bar Title Insurance Corporation and the National Attorneys\u27 Title Assurance Fund, as a part of the annual meeting of the Indiana State Bar Association, October 29, 1970