An incentive-compatibility framework for regulating a monopolist with unknown costs is applied to the sponsor's problem of monitoring a bureau. Following Mueller, the bureau does not make take-it-or-leave-it budget proposals to the sponsor. Rather, the bureau must announce a marginal cost per...

Students often become frustrated with learning economics not because the economics is too hard, but because they try to grasp the economic device, model, or tool being used at the same time they try to understand the economic theory the device is designed to illuminate. As a result, the tool...

Our article empirically considers two general hypotheses related to the literature of behavioural economics. First, we test the null hypothesis that individuals behave, on average, in a manner more consistent with the rational expectations hypothesis than with the idea of self-control in the...

In this paper I reflect upon my life as a Christian and how it has connected to my work as an academic economist. I examine how my parents, teachers, colleagues, mentors, collaborators, and friends have influenced my path thus far. I outline five roles that may potentially be played by...