In this paper, we investigate the possibility of a managerial input that experiences increasing compensation along with decreasing intensity. We call this type of input a "Kiffin good" after the head football coach Lane Kiffin. We propose a novel production process that might lead to Kiffin...

We develop a targeting enforcement mechanism in the context of fixed inspection capacity due to budget constraint. A fixed number of firms are selected for inspection and those with the highest emissions are targeted with higher inspection probability. This structure induces dynamic rank-order...

This paper considers the role of social networks in the non-market valuation of public goods. In the model individuals derive utility both from their own direct enjoyment of the public good and from the enjoyment of those in their network. We find that network structure almost always matters,...

Most studies of homework effectiveness relate time spent on homework to test performance, and find a nonmonotonic relationship. A theoretical model shows that this can occur even when additional homework helps all students because of the way in which variables are defined. However, some students...

This article constructs a game-theoretic model in which high chief executive officer (CEO) pay emerges as the outcome of an arms race, with each firm hiring a highly paid CEO to protect its competitive position against rivals who also hire highly paid CEOs. For an arms race to emerge, highly...

This paper contributes to the widespread discussion of the sources of the divergence between WTA and WTP values. The paper reports on theoretical and empirical investigations which show that value and outcome uncertainty offer an explanation for this disparity. Given a set of hypotheses...

Most studies of homework effectiveness relate time spent on homework to test performance, and find a nonmonotonic relationship. A theoretical model shows that this can occur even when additional homework helps all students because of the way in which variables are defined. However, some students...