I develop a knowledge production function where new ideas are built from combinations of pre- existing elements. Parameters governing the connections between these elements stochastically determine whether a new combination yields a useful idea. Researchers use Bayesian reasoning to update their...

We study how optimally to insure customers of a unionized firm, such as an auto maker, against the loss of network benefits that occurs when other consumers abandon the firm.  The union first announces a wage.  A random demand shock is then realized.  The firm then chooses its price and,...

Welfare tradeoffs between intellectual property (IP) protections provided by patents and by plant variety protection (PVP) are explored. PVP breeders' exemption weakens IP protection, but may speed the transfer of research gains across firms. A model is developed assuming firms optimize research...

Hansen and Lonstrup [Journal of Population Economics, 2012] construct a three-period, life-cycle model to study the famed Ben-Porath mechanism and attempt to reconcile it with the empirical findings in Hazan [Econometrica, 2009]: increased life expectancy has a positive effect on schooling but a...

  Federal definitions of core-based metropolitan and micropolitan statistical areas (CBSAs) recognize the importance of large, central places in broader regional economies.  Although CBSAs are officially defined for statistical reporting purposes only, the construct is widely used in regional...

We assess the literature on public and private quality standards and their impact in food markets, international trade, and global supply chains. We focus on their effects on welfare, trade, industrial organization, and labor markets and with special attention to the North-South context. We also...

We assess the literature on public and private quality standards and their impact in food markets, international trade, and global supply chains. We focus on their effects on welfare, trade, industrial organization, and labor markets and with special attention to the North-South context. We also...

This analysis measures the regional economic value of Iowa State University.  There are two dimensions evaluated: the overall worth of operating the university and the value of student spending in the area economy.  This analysis incorporates a number of best practices for measuring the worth...

This analysis measures the regional economic value of The University of Iowa.  There are two dimensions evaluated: the overall worth of operating the university and the value of student spending in the area economy.  This analysis incorporates a number of best practices for measuring the worth...

This analysis measures the regional economic value of The University of Iowa Hospitals and Clinics (hereafter, UIHC).  The assessment looks at UIHC operational expenditures using a properly specified regional input-output model that accurately reflects its major spending categories and its...