L. S. N. Walsh

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Although supermarkets for groceries have existed for nearly a century, financial supermarkets are a much more recent innovation. We find that investors rely on mutual fund supermarkets to buy highly differentiable funds from small, specialized fund families. Investors' use of supermarkets is consistent with efforts to reduce search costs while obtaining the(More)
This paper finds evidence consistent with a separating equilibrium where high search cost investors choose mutual fund families that offer a broad product array, while low search cost investors find it most efficient to allocate their resources across families focused in a particular product line. Considering both security research and distribution(More)
1. The growth .energy of the granulosa cells in the ovarian follicles of normal guinea pig ovaries varies with the size of the follcle, and follows a definite growth curve. The growth energy in small follicles is relatively low, then a gradual rise takes place with increase in size of the follicle up to a maximum which is reached when the follicle attains(More)
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