Non-profit institutions must make many kinds of decisions about allocations of resources. The theory is clear: allocate so that the marginal utility is equal in all uses. But this is more easily said than done. This paper suggests a series of heuristic steps by which real-life non-profit...

Using closed-end investment trusts as subject-matter, this paper explores this question: Are some portfolio managers "really" better than others? i.e., are there differences in performance among managers other than those differences due to chance? It also throws some light on whether investors,...

In this collection of autobiographical essays, 26 prominent scholars detail their professional development, while offering insight into their lives and philosophies. With candor and humor they relate how they came to the field of economics, as well as how their views have evolved over the years.

Discusses the effect of a rise in a wage rate within a given industry upon varios segments of the labor market. Example of an ill-intentioned wage increase; Case of janitors at the University of Illinois at the Chicago campus. (Abstract copyright EBSCO.)