In a simple 2-period model of relative income under uncertainty, higher comparison income for the younger cohort can signal higher or lower expected lifetime relative income, and hence either increase or decrease well-being. With data from the German Socio-Economic Panel and the British...

Wassily Kandinsky and Kazimir Malevich were both great Russian painters who became pioneers of abstract art during the second decade of the twentieth century. Yet the forms of their art differed radically, as did their artistic methods and goals. Kandinsky, an experimental artist, approached...

This paper considers not only when in their careers the greatest artists of the twentieth century made their greatest discoveries, but also how quickly they made them. The results underscore the dominant position of Picasso and Cubism in twentieth-century art: Picasso alone accounts for the two...

Orson Wells made Citizen Kane, his greatest movie, when he was 25 years old; Frank Lloyd Wright designed Fallingwater, his most famous house, when he was 70. Contrasts as great as this raise the question of whether there is a general explanation of when in their lives great innovators are most...

Comparing self-reports to administrative data records on diagnosis and prescription drug use, we find that survey respondents under-report mental health conditions 36% of the time when asked about diagnosis and about 20% of the time when asked about prescription drug use. Survey respondents are...

Psychologists have found that the age at which successful practitioners typically do their best work varies across professions, but they have not considered whether these peak ages change over time, as economic models suggest they might. Using auction records, we estimate the relationship...

Some important novelists have written a great novel early in their careers and have produced lesser works thereafter, whereas others have improved their work gradually over long periods and have made their major contributions late in their lives. Which of these patterns a novelist follows...

Using transactions from fine art auctions for 42 leading American contemporary artists I estimate the relationship between the value of a painting and the artist's age at the date of its execution. The econometric estimates show that artists born before 1920 were likely to have done their most...

This paper examines the tradeoff between early and late specialization in the context of higher education. While some educational systems require students to specialize early by choosing a major field of study prior to entering university, others allow students to postpone this choice. I develop...