An important area of consumer choice is time allocation and its role in dictating behavior. For the typical student worker, the time allocation decision involves three primary activities: paid employment, academic pursuits, and leisure pursuits. Exogenous factors such as the wage rate, price of...

Microfinance provides saving and lending services to the poor. It is not conceptually different from banking in the USA. People are able to save money at and borrow money from microfinance institutions. They are compensated for saving and charged for borrowing by an interest rate that compounds...

Previous research on intergenerational mobility in income, occupation, or social class as a Markov process typically uses regression models to analyze cross-sectional data. In this paper we draw data from the National Longitudinal Survey of Youth (NLSY) to build Markov transition states,...