Previous estimates of the profitability of investment in medical training contain an upward bias. These studies treat as the return to such investment the full difference in trained and untrained earnings, and thus they fail to account for expected labor/leisure substitutions associated with...

In spite of almost 40 years of active enforcement efforts by the EEOC, as well as the strong intervention by the plaintiff bar, the most popular benchmark by which we measure the influence of prejudice on wages paid to female and minority workers has changed very little. This paper maintains...

This paper investigates the relationship between the market for medical care and the market for medical education. Within a standard supply and demand framework, the capacity of medical schools is considered as an endogenous element within a complete structural system of the market for...

Estimation of the demands for many services supplied by government and charitable organizations are hampered by two practices common to the supply of these services. The suppliers often employ non-price rationing of these services, and they price discriminate. The supply of college training, for...

We revisit economies of scale starting with Adam Smith and continuing through Armen Alchian. In spite of detail and depth of analysis, the application of economies of scale is still confused. As Robinson points out, large scale processes can be jobbed out. The Coasian limits of the problem are...