The timing of investments in human capital is important. Since the net present value of an investment in human capital may change over time, the decision to invest should be made so as to maximize the net present value of the investment. After sketching the proper decision rule in cases where...

Jobs differ along many dimensions including firm size. The wage gap due to firm size of 35% is comparable to the gender wage gap of 36% for men over women and greater than the wage gap of 14% for whites over black employees. The size-wage premium is larger for men and varies across industries....

This study explores why registered nurses employed in nonprofit nursing homes earn higher wages than those employed in proprietary facilities. Previous studies have explained this finding in a property rights context, where higher wages were posited to result from the weaker incentives for cost...

Jobs differ along many dimensions including firm size. The wage gap due to firm size of 35% is comparable to the gender wage gap of 36% for men over women and greater than the wage gap of 14% for whites over black employees. The size-wage premium is larger for men and varies across industries....