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We develop an empirically tractable model of acreage allocation decisions in which farmers consider impacts of current crop production on future soil productivity. Because of the soil productivity effects, future crop prices are shown to affect current acreage allocations. Government programs...

This paper provides a unique opportunity to observe how a public policy affected the earnings of various interest groups at different stages of implementation. Specifically, we examine how the earnings of women, union members, and supervisory and professional staff were affected by various...

The fraction self-employed rises in recessions because wage work is more sensitivethan self-employment to the business cycle, not because of necessityentrepreneurship. Graduating during a recession reduces the probability of starting a business forthe next 11 years.

A theoretical model is advanced that demonstrates that, if teacher and student attendance generate a shared good, then teacher and student attendance will be mutually reinforcing.  Using data from the Northwest Frontier Province of Pakistan, empirical evidence supporting that proposition is...

Universities spend almost $2 billion subsidizing their collegiate sports programs.  Even the most popular women’s sport, basketball, fails to break even. An application of Becker’s theory of customer discrimination is used to calculate the relative preference for men’s...

In Lazear (2005)’s model of entrepreneurship, individuals with more diverse academic and occupational training are more likely to become entrepreneurs, while more narrowly trained individuals become employees. We examine whether Lazear’s model can also explain which individuals...