A new natural resource damage assessment paradigm has been suggested that emphasizes direct analysis of compensatory restoration rather than analysis of compensating variation for damages. This article considers whether money can be avoided in damage assessment. The analysis of compensatory...

A latent-class model of environmental preference groups is developed and estimated with only the answers to a set of attitudinal questions. Economists do not typically use this type of data in estimation. Group membership is latent/unobserved. The intent is to identify and characterize...

This article investigates whether faculty members are rewarded for teaching. We find that teaching a wider variety of courses and devoting more time to teaching results in a significant wage penalty, even when research productivity is carefully controlled.

This study examines detailed data for faculty at a typical public research university in the United States between 1995 and 2004 to explore whether gender wage differentials can be explained by productivity differences. The level of detail - including the number of courses taught, enrollment,...

Empirical studies suggest that consumption is more sensitive to current income than suggested under the permanent income hypothesis, which raises questions regarding expectations for future income, risk aversion, and the role of economic confidence measures. This report surveys a body of...