We provide a critique of the methods that have been used to derive measures ofincome risk and draw attention to the importance of demographic factors as asource of income risk. We also propose new measures of the contribution tototal income risk of demographic and labour market factors....

[...]In this paper, I examine two methods of measuringthe value of better schools. One involves following individualsover time to determine how the quality of theirschooling affects outcomes later in their lives; the otherinvolves calculating parental valuation of better schoolstoday. I review...

[...]In this article, we explore the relationship betweenfranchise value and risk taking over the 1986-94 period.We extend Keeley’s empirical analysis by estimating theeffect of franchise value on a variety of measures of bankrisk. We find an inverse relationship between franchisevalue and an...

[...]The analysis of competitive markets culminated in the fundamental theorems of welfare economics which elucidated the (restrictive) conditions under which resource allocation by markets would achieve Pareto efficiency. The first fundamental theorem says that all perfectly competitive...

Using a new source of evidence we explore the geographical mobility of mid-nineteenth century seamen. Among seamen born outside London, the tall, the literate and those who could remember the exact day, month and year when they were born - characteristics that we suggest mark them out as men...

Design standards are carriers and creators of facts, enabling facts about product value to travel between groups, and assisting in the creation of product value by establishing a reference or comparison against which product attributes are compared. However, when design standards are not...