Sprint finishes in professional cycling are fast, furious, and dangerous. A “red flag rule†(RFR) seeks to moderate the chaos of these finishes, but may induce moral hazard by removing the time penalty associated with crashing. To test for moral hazard, the authors use a 2005 rule...

Climate models predict more weather extremes in the coming decades. Weather shocks can directly reduce crop production, but their effect on food markets is partly buffered by storage and supply responses that can be complex and nuanced. We explore how inter-hemispheric trade and supply responses...

Potential poverty traps among the rural poor suggest a need to reduce poor farmers' vulnerability by stabilizing crop yields and limiting yield losses. Advances in biotechnology will help address this need directly with crops that tolerate climate fluctuation or resist biotic stresses....

Potential poverty traps among the rural poor suggest a need to reduce poor farmers?vulnerability by stabilizing crop yields and limiting yield losses. Advances in biotechnology will help address this need directly with crops that tolerate climate fluctuation or resist biotic stresses. Evaluating...

Income polarization directly affects monopoly pricing and profits when a monopolist cannot segment markets. When income and price elasticity of demand are negatively correlated, increasing income disparity ultimately leads the monopolist to target the rich at the exclusion of the poor. This...

We propose the Grouped Coefficients estimator to reduce the bias of dynamic panels that have a multilevel structure to the coefficient and factor loading heterogeneity. If groups are chosen such that the within-group heterogeneity is small, then the grouped coefficients estimator can lead to a...

In Markov-switching regression models, we use Kullback-Leibler (KL) divergence between the true and candidate models to select the number of states and variables simultaneously. In applying Akaike information criterion (AIC), which is an estimate of KL divergence, we find that AIC retains too...

This study uses data from a 2001 survey of Great Plains farmers to explore the adoption, usage patterns, and perceived benefits of computers and the Internet. Adoption results suggest that exposure to the technology through college, outside employment, friends, and family is ultimately more...