Why Merton Miller remains misunderstood

Merton H. Miller liked to tell a joke about Yogi Berra, the famous baseball catcher. Berra once told his trainer that he was particularly hungry, and he instructed him to cut his pizza into 12 pieces instead of six.

Renegotiating a contract? Timing is money

In most industries, contract renegotiations are shrouded in secrecy, making data about timing and tactics hard to come by. But Chicago Booth’s Gregor Matvos is extracting lessons from a more transparent data source for contract renegotiations: the US National Football League.