Random effects estimates using panel data for 42 colleges and universities over 16 years reveal that the economics faculty size of universities offering a Ph.D. in economics is determined primarily by the long-run average number of Ph.D. degrees awarded annually; the number of full-time faculty...

Latent class, or finite mixture, modelling has proved a very popular, and relatively easy, way of introducing much-needed heterogeneity into empirical models right across the social sciences. The technique involves (probabilistically) splitting the population into a finite number of (relatively...