Resource allocations of all kinds inevitably encounter financial constraints, making it infeasible to make financially unbounded commitments. Such resource constraints arise in almost all health and safety risk contexts, which has led to a regulatory oversight process to ascertain whether the...

This paper analyzes the nature of wage changes over a decade of labor market experience. Discontinuous changes (jumps) account for the preponderance of wage increases, as wage falls do for declines. A worker's jump and fall history also influences the likelihood of both promotions and quits...