We derive declining exponential rent and density functions for a monocentric city form a new set of assumptions, which place restrictions on commuting costs rather than on the demand for land.

An alternative condition, called reduction invariance, is given to derive Prelec's (1998) form for the weighting function in separable utility theory. The condition, which is a variant on the reduction of compound gambles, is appreciably simpler and more empirically testable than Prelec's...

In an important and influential paper, Card and Krueger argued that proxies for school quality positively affect the rate of return to future education. In this paper, we analyze a variant of the Card and Krueger model using a hierarchical Bayesian approach and school-level quality data from the...

This paper develops new Bayesian methods for semiparametric inference in the partial linear Normal regression model. These methodes draw solely on teh Normal linear regression model with natural conjugate prior. Hence, analytical finite sample results are available which do not suffer form...