We study the private adoption and diffusion of a technology that provides a local public good - PurpleAir (PA) pollution monitors. From a purely informational perspective, the ideal spacing of these monitors should reflect the degree of spatial correlation in pollution. In stark contrast, we...

Science funding agencies such as the NIH, NSF, and their counterparts around the world are often criticized for being too conservative, funding incremental innovations over more radical but riskier projects. One explanation for their conservatism is the way the agencies use peer review of...