This paper introduces endogenous fertility into a model of occupational choice, and studies its steady states. Three main results are obtained. First, despite the presence of both income and substitution effects in fertility choice, general equilibrium effects operating via endogenous wages in...

By incorporating occupational choice into a theory of endogenous fertility, this paper provides an explanation of observed patterns linking parental incomes to fertility. Our approach does not rely on assumptions concerning the relative strength of substitution and wealth effects in parental...

We compare the long-run effects of replacing unconditional transfers to the poor by transfers conditional on the education of children. Unlike Mirrlees income taxation model, the distribution of skill evolves endogenously. Human capital accumulation follows the Freeman-Ljungqvist-Mookherjee-Ray...

This paper presents a theory of rent seeking within farmer cooperatives in which inequality of asset ownership affects relative control rights of different groups of members. The two key assumptions are constraints on lump-sum transfers from poorer members and disproportionate control rights...

This paper examines steady states of an overlapping generations economy with a given distribution of household locations over a one-dimensional interval. Parents decide whether or not to educate their children. Such decisions are aected by location: parental aspirations depend on the earnings of...

A traditional view of markets is that they equalize wealth across individuals. A more recent literature suggests that markets are inherently disequalizing. A third viewpoint argues that initial history is crucial in determining whether inequalities persist or not. By constructing a theory of...

This paper examines the steady states of an overlapping generations economy with a given distribution of household locations over a one-dimensional interval. Parents decide whether or not to educate their children. Educational decisions are affected by location: There are local complementarities...

A model of "satisficing" behavior in the repeated Prisoners Dilemma is studied. Each player has an aspiration at each date, and takes an action. [S]he switches from the action played in the previous period only if the achieved payoff fell below the aspiration level (with a probability that...

Introducción. La teoría neoclásica tradicional trata la empresa como una "caja negra". Se la enfoca como una función de producción que transforma los insumos en productos de una manera exógena. Sin embargo. el trabajo empírico de Abramovitz, Solow, y Denison sobre los determinantes del...