This paper uses a hedonic model for pricing decisions in non-competitive markets to model the relationship between undergraduate tuition and the characteristics of private universities. The model includes measures of externally funded research, the influence of student aid policies, college and...

A higher endowment of some good will typically cause an individual to place a lower value on increases (or decreases) in that endowment. This property, which we call diminishing marginal value, is a pervasive component of economists' beliefs about people's behavior. In ordinary markets "the more...

One way of gauging how global warming will affect an economy is to look at the economic performance of countries that are warmer. This paper looks at the income-temperature relationship for a cross-section of 156 countries in 1999. As is well known, hotter countries are poorer on average. The...