In this paper we study the complete evolution of a final-offer arbitration system used in New Jersey with data we have systematically collected over the 18-year life of the program. Covering the wages of police officers and firefighters, this system provides virtually a laboratory setting for...

In 1987 the federal government permitted states to raise the speed limit on their rural interstate roads, but not on their urban interstate roads, from 55 mph to 65 mph for the first time in over a decade. Since the states that adopted the higher speed limit must have valued the travel hours...

These volumes gather together a selection of autobiographical essays written by significant economists whose work is generally recognized to be at the forefront of the discipline as we enter the twenty-first century. The essays are largely based on introductions to volumes in the Edward Elgar...

This volume contains revised versions of the papers presented in 1971 at the Princeton University Conference on Discrimination in Labor Markets, and the formal discussions of them.This paper is by Kenneth Arrow, winner of the Nobel Prize in Economics, who lays the theoretical foundations of the...

This paper contains a new review of the research of the last decade that has been designed to shed light on how the art auction system works, what it indicates about price formation, and how well it performs. We begin with a short description of the mechanics of the auction system and then...

Modem labor economics has continued to grow and develop. The subject matter of labor economics continues to have at its core an attempt to systematically find empirical analyses that are consistent with a systematic and parsimonious theoretical understanding of the diverse phenomenon that make...