Of the drivers who raced NASCAR cup series in 2005, 23 of 76 had family connections of either being a son, brother or father of current or former drivers. Given the family connections, some have suggested that the N in NASCAR stands for nepotism. The family tradition of career following,...

Recent evidence suggests that nearly 25% of U.S. adults (47 million) suffer from some level of sleep deprivation. The impact of this sleep deprivation on the U.S. economy includes direct medical expenses related to sleep deprivation and related disorders, the cost of accidents, and the cost of...

We conduct predictive validity tests using revealed and stated behavior data from a panel survey of North Carolina coastal households. The application is to hurricane evacuation behavior. Data was initially collected after Hurricane Bonnie led to hurricane evacuations in North Carolina in 1998....

The stability of factor shares has long been considered one of the “stylized facts” of macroeconomics. However, the relationship between cross-country factor shares and economic development is dependent on how factor shares are measured. Most factor share studies acknowledge only two factors...

The usual explanations for superstar effects---when a firm’s revenue is positive and convex in quality, and a few firms earn a large share of market revenue---are imperfect substitution between sellers, low marginal cost of output, and marginal cost declining as quality increases. Herein, a...