New technology is usually expensive and it takes time for manufacturers to make the technology more accessible. In the stereo industry, the first Super Audio Compact Disk (SACD) player made by Sony, SCD-1, sold for $5,000 in 1999; in 2002 the cheapest of Sony's new SACD players, SCD-CE775, had a...

The objective of this paper is to add evidence of job mobility within a firm using personnel records from a single large U.S. corporation, focusing on the determinants of the hazard rates of being promoted to a higher hierarchy level. How to successfully control for unobserved heterogeneity is...