Despite the old claim in economics that “there is no such thing as a free lunch,” some of the recent work in behavioral economics and in other fields of study implies the contrary. In this paper I study whether French and Italian hotels actually provide a “free” breakfast when, as is...

The authors find high but diminishing marginal returns to investment in expenditures per pupil per year. The study suggests the desirability of increased educational quality in school districts with lower per pupil expenditures so as to equalize the returns to years and annual expenditure per...