Many economic transactions are prohibited—even in the absence of health or safety concerns or negative externalities—because of ethical concerns that cause these exchanges to be perceived as “repugnant” if conducted through a market. Establishing a system of payments for human organs is...

This paper aims to provide a swift tour of the economic issues presented by vouchers and thus to fill an apparent gap in the literature for a basic survey of the subject. Among the issues it considers are: factors determining a voucher's cash-equivalence; reasons (such as paternalism,...

We develop a model of informal risk-sharing in social networks, where relationships between individuals can be used as social collateral to enforce insurance payments. We characterize incentive compatible risk-sharing arrangements and obtain two results. (1) The degree of informal insurance is...

Current education reform proposals involve improving educational outcomes through forms of market-based competition and expanded parental choice. In this paper, we explore the impact of choice through open enrollment within the Chicago Public Schools (CPS). Roughly half of the students within...

In this paper we investigate the positive and normative consequences of child-labor restrictions for economic aggregates and welfare. We argue that even though the laissez-faire equilibrium may be inefficient, there are usually better policies to cure these inefficiencies than the imposition of...

Recent studies analyzing the effects of religion on various economic, social, health and political outcomes have been largely associational. Although some attempts have been made to establish causation using instrument variable (IV) or difference-in-difference (DID) methods, the instruments and...

There is growing concern that improving the academic skills of disadvantaged youth is too difficult and costly, so policymakers should instead focus either on vocationally oriented instruction for teens or else on early childhood education. Yet this conclusion may be premature given that so few...

Social capital is often associated with desirable political and economic outcomes. This paper contributes to a growing literature on its "dark side". We examine the role of social capital in the downfall of democracy in interwar Germany. We analyze Nazi Party entry in a cross-section of cities,...

Turkey, which is a predominantly Muslim country, enacted an education law in 1997 which increased the compulsory secular education from five to eight years. We employ a unique nation-wide survey of adults in 2012 to investigate the impact of education on religiosity, lifestyles and political...

This chapter surveys experience with performance pay in developing country health programs. In doing so, it focuses on four key conceptual issues: (1) What to reward, (2) Who to reward, (3) How to reward, and (4) What unintended consequences might performance incentives create. We highlight that...