A Manager of other leader can more effectively obtain rents or other benefits for his organization the higher the quality of his staff. But these same staff may seek rents within the firm, with the most able staff best able to do so. A Manager may therefore prefer to employ staff of low quality.

This paper examines the possibility of overaccumulation of capital in an overlapping generations economy with land. With zero population growth rate, the steady state equilibrium is dynamically efficient. Imposition of property tax on land, however, distorts the arbitrage condition and can...

Urban transportation involves imprtant nonlinearities in two ways: in its purpose and in its form of provision. Under such conditions, there is ample room for market failures and it is not surpising that public intervention plays a heavy role. But public policy failures are common too, and many...

The hypothesis that employers have an interest in the hours worked by their employees suggests that hours and wages are systematically related. Since employer interest may constrain employee hours of work, individuals realize their preferences for hours through their choices of jobs. An...

This study offers a simultaneous equations model of the birth process with seven endogenous variables: four birht inputs, and three birth outputs. Our analysis conditions on twenty-four exogenous variables. The data are taken the NLSY. Separate analyses are performed on five different groups:...