We examine the role of altruism in determining optimal transfers from a principal (a mother) to selfish agents (her children) in return for attention services. Transfer-attention contracts are studied in a setting in which informational asymmetries arise from the inability of a parent to...

This study investigates determinants of vacation travel among seniors. A consumer choice model is developed that incorporates effects of retirement and health on available leisure time, and effects of age and education on disposable income. The empirical implications of the model depend on...

This paper offers a nonparametric statistics test for Marginal Conditional Stochastic Dominance, that is then applied to a sample of stock returns. The test has three purposes: first, it offers a relatively simpleway to test for Stochastic Dominance, that is lacking in the literature. Second, it...