The effects on the market price of a change in the number of buyers, in the number of sellers, in the prices sellers set and in the buyers’ reservation prices are established in a simple network model of a market.

This article reports how a two-term obligatory Microeconomics at the Universidade da Beira Interior, Portugal, has been taught for junior undergraduates of the three degrees: Business, Economics and Marketing, offered by the Department of Business and Economics. It reveals the trade-off between...

This paper presents new evidence on the effects of attendance on academic performance. We exploit a large panel data set for Introductory Microeconomics students to explicitly take into account the effect of unobservable factors correlated with attendance, such as ability, effort and motivation....

The present paper develops a basic framework for evaluating and optimizing profits in a business operation. In developing a business we are often faced with an infinity of choices ranging from what products or services to sell and what customers to target to how to structure and manage the...

The view that the returns to public educational investments are highest for early childhood interventions stems primarily from several influential randomized trials - Abecedarian, Perry, and the Early Training Project - that point to super-normal returns to preschool interventions. This paper...

Loss of a parent is one of the most traumatic events a child can face. If loss of a parent reduces investments in children, it can also have long-lasting implications. This study uses parametric and semi-nonparametric matching techniques to estimate how one human capital investment, school...

We estimate the demand for colleges in the United States by relating new applications to easily comparable characteristics of the schools in the sample. We find that the demand for 1134 U.S. colleges in 1994 is positively related to out-of-state tuition but inversely related to in- state...

This paper studies an auction model in which one of the bidders, the insider, has better information about a common component of the value of the good for sale, than the other bidders, the outsiders. Our main result shows that the insider may have incentives to disclose her private information...

We develop a model of information processing and strategy choice for participants in a double auction. Sellers in this model form beliefs that an offer will be accepted by some buyer. Similarly, buyers form beliefs that a bid will be accepted. These beliefs are formed on the basis of observed...

This paper evaluates performance of human subjects and instances of a bidding model that interact in continuous ­time double auction experiments. Asks submitted by instances of the seller model (``automated sellers'') maximize the seller's expected surplus relative to a heuristic belief...