We calculate mutual-best-response route networks for profit maximizing airlines serving large US air-traffic-hub cities. A simulated annealing algorithm determines which of over ten thousand potential routes receive direct or hub-and-spoke service. DOT’s Origin and Destination Survey is used...

We evaluate the impact of increased income uncertainty and financial liberalisation in the US on consumption volatility and household welfare. We estimate Euler equations and measure the volatility of unpredictable changes in consumption as the squared residuals. We directly control for...

In this paper, we examine the performance of male and female students participating in a unique and successful high school program called Keys to Financial Success. Using the Financial Fitness for Life High School Test (FFFL-HS) results from 965 students enrolled in a one-semester Keys course,...

We examine the role of financial development in economic growth in the former Communist countries of Central and Eastern Europe and the Commonwealth of Independent States during the first two decades since the beginning of transition. These countries, which had undeveloped financial systems...

The method of endogenous gridpoints (ENDG) significantly speeds up the solution to dynamic stochastic optimization problems with continuous state and control variables by avoiding repeated computations of expected outcomes while searching for optimal policy functions. While the method has been...

In a well-known and widely-cited paper, Akerlof, Yellen, and Katz (1996) proposed a novel and counter-intuitive explanation for the rise of non-marital births in the U.S. that emphasized the way in which improved birth control and legalized abortion altered social norms about the responsibility...

Charitable foundations should endeavor to allocate their limited resources to best serve their constituents. However, few foundations use mathematical programming techniques despite overwhelming evidence of their superiority at selecting projects that yield higher levels of total benefits. The...

: A recent Census Bureau report shows that the gender earnings ratio for year-round full-time workers varies substantially across states, with a range of 24 percentage points. In this paper, I examine this variation by estimating state-fixed effect models of earnings for men and women, using...

The benefits of school choice systems designed to help disadvantaged groups might be hindered by information asymmetries. Kenyan elite secondary schools admit students from the entire country based on a national test score, district quotas, and stated school choices. We find even the highest...

We identify a representative sample of U.S. diabetes patients with comorbid hypertension and evaluate health care expenditures in this population across BMI strata. The underlying hypothesis is that the presence of comorbid obesity and hypertension poses an additional burden on patients with...