…investors were entities with a good bit of money to invest — pension funds, endowments, insurance companies etc. Importantly one can achieve almost as good a risk return portfolio buying…

…assets without any consideration of diversification. I would guess than many endowments and pension funds and such had explicit rules about how a share of the money had to be…

…+ (sum over j not equal to i of u(c_j))alpha alpha must be tiny. Now assume that people have different endowments of this good and the world lasts one period….

…endowments and pension funds with rules requiring much of their assets to be AAA corporate debt or safer would be willing to pay much more than the actuarially fair premium…

…are based on principal agent issues and rules imposed by principles on the managers of pension funds and endowments. Helping an agent cheat his or her principal is a way…

…the drop off in revenue is also a stretch because so much stock is held in nontaxable accounts (IRAs and endowments) that a decline in the market has a disproportionately…

…tuition, particularly if it’s unconnected to outcomes and spent on things like fancy gyms, climbing walls, and administrator salaries. It’s particularly egregious if colleges have giant endowments they use as…

Remember the wildly successful Trump University? Me neither. But elect Donald, and he promises to build on that success by stealing the endowments of major universities to create a national…

…donors, endowments, and alternative investment income—ranging from traditional real estate portfolios to high-yield ventures funding the backend technology of crypto casino games—enabled these and other well-endowed hospital systems to build…

…to raise prices endlessly and spend endlessly on administrative bloat, rarely passing savings to students while always fattening endowments.  Administrators are such relentless grifters that they build ludicrous climbing walls,…