The environmental Kuznets curve (EKC) hypothesizes that the income-pollution rela- tionship has an inverted U shape: pollution increases with income up to a turning point beyond which it decreases. The empirical literature has concentrated on estimation of this relationship at the mean employing...

An endowment effect can result in both multiple bidding and sniping in auctions. It can cause players to bid multiple times and overpay for items. Sniping is a rational response for experienced bidders looking to avoid the endowment effect.

We analyze a stochastic growth model with lags in the operation of new technologies. Stock values are impacted by news on technological innovations and some other external shocks affecting the economy. Episodes of technology adoption may generate long fluctuations in the aggregate value of...

A decision maker must divide a prize between multiple agents. The prize may be divisible (e.g., a budget, pork-barrel spending) in which case he prefers to award larger shares of the prize to relatively more-qualified agents, or it may be non-divisible (e.g., jobs, college admissions) in which...

This paper studies the effects of generic entry on post-patent price competition for 18 prescription drugs recently exposed to competition. An independent, validating test of the “generic competition paradox” is conducted using a newly created data set. Each generic entrant is associated...

Length of exposure to a training program is important in determining the labor market outcomes of participants. Employing methods to estimate the causal effects from continuous treatments, we provide insights regarding the effects of different lengths of enrollment to Job Corps (JC)—...

Past research nds that males outperform females in competitive situations. Using data from multiple-round math tournaments, we verify this nding during the initial round of competition. The performance gap between males and females, however, disappears after the rst round. In later rounds, only...

We design an experiment to test whether the behavior of dictators can be rationalized by the impurely altruistic utility function. By giving the recipients an endowment of varying levels, we create an environment that allows for observable differences in behavior depending upon whether pure or...

This paper reports an experiment conducted to assess the effects of alterations in production conditions and product durability on market power in Bertrand-Edgeworth duopolies. Experiment results indicate that advance production increases market power in the sense that mean transaction prices...

During the 1940s, the diversion of 55\% of the workforce to war-time production, the induction of over 10 million young men into the armed forces and the entry of millions of female, young and elderly workers into workplace subject the labor force to large shocks. Also during the 1940s the wage...