We recommend that an auction market replace the current system for submitting academic papers and show a strict Pareto-improvement of equilibrium. Besides the benefits of speed, this mechanmism increases the average quality of articles and journals and rewards editors and referees for their...

Our non-representative sample of 245 undergraduates had significantly lower scores on questions presented in the standard heterogeneous form (i.e., Direct Demand equation and Inverse Demand graph) than on questions presented in non-standard homogenous forms. This result, which holds for advanced...

We examine the impact of information regarding other people’s choices on individual choice in a public good experiment with two separate treatments. In the implicit treatment, subjects do not see the average contribution of others in their group, but they can calculate it from the information...

We find that student performance on questions posed in the standard heterogeneous combination of algebraic direct demand and graphic inverse demand is significantly worse than their performance on questions posed in homogeneous combinations. Since this performance deficit persists with advanced...

The Real Estate Market Index (ldquo;REMIrdquo;) combines sales price, sales volume and days on market into a summary measure of market activity or liquidity. The REMI, which rises with price or volume and falls with days on market, is more sensitive to market sentiment than indices based on...

This paper proposes a novel mechanism for reallocating temporary water flows or permanent water rights. The All-in-Auction (AiA) increases efficiency and social welfare by reallocating water without harming water rights holders. AiAs can be used to allocate variable or diminished flows among...

This apology is neither a wholesale rejection of economic thought and perspective nor an admission of error in our understanding of ecological values or human impacts on the environment. Life is complex. It's an apology for the unintended damage that's resulted from misapplying economic ideas:...