First Author:   Evgenia Motchenkova VU University of Amsterdam emotchenkova@feweb.vu.nl   , The Netherlands   +31 20 598 7143(Phone) +31 20 598 7143(Fax) Second Author: Harold Houba VU University of Amsterdam hhouba@feweb.vu.nl   De Boelelaan 1105 , The Netherlands   +31 20 598 6014(Phone) +31 20 598 6010(Fax) http://staff.feweb.vu.nl/hhouba/ Third Author: Quan Wen Vanderbilt University quan.wen@vanderbilt.edu         http://www.vanderbilt.edu/econ/faculty/wen.html