This article develops a model of intellectual labour augmentation to explain both the marriage wage premium and educational assortative mating. We suggest that husbands and wives are complementary factors of production where a spouse's education and skills augment their partner's productivity...

This article explores the dilemma of choosing talent using NBA data from 1987 to 2003. We find there is much uncertainty in selecting talent. If superstars are found, they are usually identified early. However, more false positives exist than correct decisions with high draft picks. Our results...

This paper considers the problem of estimation when one of a number of populations, assumed normal with known common variance, is selected on the basis of it having the largest observed mean. Conditional on selection of the population, the observed mean is a biased estimate of the true mean....

Everyone here tonight must be aware by now that we have entered a new, technological era—in fact, a second industrial revolution. If you are not aware of the new developments taking place you are either blind, deaf—or, even worse,—either not interested or of the opinion that it does not...

This paper estimates the value of king mackerel bag limit changes with both stated and revealed preference methods. The 1997 Marine Recreational Fishery Statistical Survey allows estimation of the value of avoiding bag limit reductions with the random utility model and the contingent valuation...

The combination and joint estimation of revealed and stated preference (RP/SP) data approach to examining consumer preferences to relevant policy-based measures typically fail to account for heterogeneity in the data by considering behavior of the average individual. However, in policy-based...