This paper expands the standard analysis of female labor supply to permit preference heterogeneity by using a finite mixture model. Using the extended model, we obtain theory consistent results whereas a traditional model produces a negative substitution effect. We use our model to illustrate...

This paper investigates two questions regarding closely held corporations. First, possible differences between closely and widely held corporations are explored. Second, a model is developed to investigate what factors and to what extent these factors influence a person to become an active owner...