Governmental guidance for regulatory and benefit-cost analysis is targeted for applied analysts. Existing Federal guidance recommends sensitivity analysis in general without being specific regarding the implicit distributional assumptions of standard benefit-cost analysis. Recommendations for...

Among the many complex issues of technology, governance, and market design affecting the electricity sector, climate policy has become dominant. From the perspective of a nonspecialist looking at this changing dominance, a quiz illuminates some of the peculiar uses of language one can find in...

The present paper presents a survey of the main works that analyze labor share dynamics from a theoretical point of view. It tries also to reconcile the different approaches to the issue into a unifying framework represented by the so called SK schedule.

The qualifying aspect of the ongoing changes in firm growth processes seems to be the increased heterogeneity of size and a trend towards a broader fluctuation in average size. Exogenous factors (market size, demand trends, technological innovations, higher competition) determine a different...

The present value of growth opportunities with stable long run value and decreasing investment cost is addressed in a real options perspective. The model is solved in terms of closed form solutions, and a duality between elementary real options of waiting to invest is conjectured to be a...

We study the effects of a statutory wage tax sharing rule in a principal - agent framework with moral hazard (à la Holmstrom, 1979) using the approach of Bose, Pal, Sappington (2007) to model the stochastic relationship between the agent’s unobserved effort and his observed performance. The...

Security focused regulations have been largely exempt from the benefit-cost type of analysis required for major Federal regulations and done routinely in areas such as transportation, environment and safety. among the reasons offered for exemption are the analytical difficulties of security...

This paper suggests a cause of low density in urban development or urban sprawl that has not been given much attention in the literature. There have been a number of arguments put forward for market failures that may account for urban sprawl, including incomplete pricing of infrastructure,...

This paper clarifies and provides additional tests presented in the age-period-cohort analysis of nonmarital birth rates in Gray, O'Brien, Stockard, and Stone(forthcoming). Where Martin (forthcoming) has suggested specific alternative specifications or interpretations of our findings, we have...

Stated preference (SP) survey methods have been used increasingly to assess willingness to pay for a wide variety of non-market goods and services, including reductions in risks to life and health. Poorly designed SP studies are subject to a number of well-known biases, but many of these biases...