We show that the winning record of a university’s football team is positively (and statistically significant) related to the number of the applications for admittance received by that university. Our parameter estimates indicate that an increase in winning percentage from .500 to .750 tends to...

In this paper we investigate the descriptive and normative properties of competitive equilibrium with moral hazard when forms offer "price contracts" which allow clients to purchase as much insurance as they wish to at the quoted price. We show that a price equilibrium always exists and is one...

In this paper, a two-stage model is presented in which firms chose market structure in stage one and play a Cournot game in the second stage. In a one-period game, if a single firm is given a choice in stage one, it will chose to from independent rival divisions rather than remained as a unified...

The study compares the retirement plans and preferences of a recent sample of older Americans. The Data suggest that a substantial minority of older workers expect to retire earlier than they really want to, and that many would delay retirement under different terms and conditions of employment....

Several have shown that models with perfect international capital mobility can generate high correlations between aggregate savings and investment, as observed in the data. In this paper we decompose aggregate saving and investment into their two component parts, private and public. This leads...