The purpose of this paper is to present a case for a new generation of research on the question of school choice. This case is based on two premises. First, it is likely that taxpayers, who have school aged children and taxpayers who don't, differ with respect to their preferences concerning...

The expected utility hypothesis has a long successful tradition in economics. However, behavioral anomalies confound it when utility depends solely on the absolute level of wealth. Harry Markowitz (1952) suggested that the anomalies might be resolved if utility could be augmented to endogenize...

This paper examines the impact of federal securities statutes (seven major legislative acts and 535 amendments) on the mean and variance of total real U.S. stock market returns. In contrast to previous work, this study controls for the persistence of the variability of stock returns, employs a...

Does the Food Stamp Program (FSP), which provides in-kind transfers to low- income Americans, cause female participants to become obese? This question is particularly important because participants are substantially more likely to be obese than are nonparticipants. This paper estimates the...

Since Hong Kong’s reversion of political sovereignty to Mainland China in 1997, the pace of economic integration between the two economies has increased. This paper first examines the economic benefits and institutional differences between Mainland China and Hong Kong. The empirical section of...

This article examines the growth attributes of manufacturing industries in China for the sample period of 1999-2007. All manufacturing industries are grouped into and four main industry groups and four geographical regions. A revised Solow’s growth method is used to decompose the growth...

With the most recent wave of property tax restructuring in the U.S., policy makers have considered the possibility of replacing the property tax. In this analysis we use data for Indiana and a short-run computable general equilibrium model to examine the effects of replacing the property tax...

This research investigates how public transit affects economic outcomes in counties with small to medium-sized cities. Our objectives are to answer: Do counties with bus transit have lower growth in transfer payments such as food stamps, Temporary Aid to Needy Families (TANF), or higher income...

We quantify the increasing use of complex mathematics and show that the increase is unique to economics in the social sciences. Over half a century ago Donald F. Gordon hypothesized that mathematics was most likely to be useful in manipulating long chains of relationships, but these were the...

We consider the use of complex mathematics in economics. The evidence suggests that the usage of complex mathematics has escalated significantly over the past half century. The empirical evidence indicates that complex mathematical models in economic theory have generated few operational...