Why is the price of renting an automobile "flat" as a function of its age or odometer value? Specifically, why is it that car rental companies do not offer customers the option of renting older cars at a discount, instead of offering only relatively new cars at full price? We also tackle a...

This volume examines some of the most pressing employment and compensation issues confronting academic administrators. Contributors discuss topics such as: ageing of faculty, changing economic conditions and shifts in faculty employment patterns, rapid increases in health care costs and trends...

type="main" <p>We present field evidence concerning experienced bidders that supports the linkage principle—specifically, the prediction that in affiliated-values auction environments the expected revenues generated at open-outcry, ascending-bid auctions are higher than those under auction...</p>

This essay reviews Kenneth I. Wolpin's (2013) monograph The Limits of Inference without Theory, which arose from lectures he presented at the Cowles Foundation in 2010 in honor of Tjalling Koopmans. While I readily agree with Wolpin's basic premise that empirical work that eschews the role of...