Early studies of peak-period traffic congestion generally ignored the departure time decision of road users. Vickrey (1969) and Kocur (1981) remedied this oversight by deriving the departure rate along a single route subject to queuing congestion as the outcome of individual utility...

State and Local Government services are enjoyed by two groups, residents and non-residents: similarly, taxes are borne by both groups. This paper addresses the question: if state and local governments act so as to maximize their residents' welfare, and if they cannot distinguish between...

One Strand of the literature of the employment contract focuses on the role of the contract in providing for the efficient sharing of risk between capitalists and workers. One way capitalists can shift risk to workers is to provide part of workers" renumeration in the form of an unfunded,...

This comment discusses terminological issues related to the analysis of housing. It treats the definition of housing quality, and stresses the importance of distinguishing between supply and reduced form elasticities, between partial and total elasticities, and between stock and flow...

Mirrlees' seminal article in residential location theory discussed the welfare economics of a town where land is a consumer good. The most remarkable result was that identical individuals should not in general have equal utilities at the social welfare optimum. This paper provides a simple...

This paper uses a general equilibrium model of residential land use to study the effects of the property tax in a closed city. Two different specifications of the production technology for housing are used, and yield similar results. The model is too complicated to be solved in closed form, but...

Firm's inability to monitor employees search efforts results in a tradeoff between risk-bearing and incentive considerations in the design of employment-related insurance. Since the provision of insurance against firm-specific shocks adversely affects workers' incentives to search out better...

This paper uses a general equilibrium simulation model of residential land use to study the long-run effects of transportation changes in a closed city. The effects considered include the aggregate benefits from and income distributional impact of the changes, and the induced alterations in the...

This paper investigates features of an urban economy where there is unpriced transportation congestion. It focusses on the relationship between the market rent on residential land, the shadow rent on residential land, and the shadow rent on land in road use, when road width is arbitrary, and...