In estimating the intertemporal elasticity of substitution, Hall finds that, when one takes account of time aggregation, point estimates are small and not significantly different from zero. He concludes that the elasticity is unlikely to be much above 0.1 and may well be zero. Applying improved...

We present a framework for deriving shadow prices for regulations on manure-spreading in animal agriculture and demonstrate that these prices can be used as indicators of the stringency of environmental regulation. We illustrate our approach with the case of water protection measures implemented...

Agriculture, horticulture, fishery and forestry are nature-related sectors that interact frequently with natural systems. This interaction represents a source of enforcement problems and transaction costs in the context of governing transactions. Institutional analytical frameworks used in...

This Essay attempts to determine the correct regulatory takings compensation policy given the general doctrinal framework in other bodies of American law. In particular, it addresses the following questions. First, given a compensation requirement for eminent domain, is it sensible to interpret...

This paper develops a model of criminal behavior that analyzes how such behavior may be associated with both individual and neighborhood poverty. Importantly, this model distinguishes between basic property crimes such as burglary and larceny, and interpersonal violent crimes such as robbery and...

I develop a model of marriage matching where males and females care about two distinct characteristics of their spouse - beauty and earnings. Each individual's beauty is exogenous, but earnings depend on human capital investments made by each individual prior to entering the marriage market. I...

The "Cost of Basic Needs" (CBN) approach to drawing consumption-based poverty lines is widely applied and lays credible claim to being the best practice for estimating poverty measures. Unfortunately, a growing mass of evidence indicates that poverty estimates obtained under the CBN approach are...

The multi-mode resource-constrained project scheduling problem (MRCPSP) involves the determination of a baseline schedule of the project activities, which can be executed in multiple modes, satisfying the precedence relations and resource constraints while minimizing the project duration. During...

Household scale economies are plausibly attributed to shared household public goods that make larger households better off at the same level of per capita resources. Larger households should therefore have higher per capita consumption of private goods, such as food, provided that they do not...