This paper studies the allocation of a given time budget among a number of skill-building efforts to maximize an overall skill level. The main finding is that as an effort becomes relatively more effective, the time share of the effort should increase and the time shares of the other efforts...

This paper models the midlife crisis as a decision on whether and when to realize a life dream, incorporating the key components of three psychology theories of midlife crises. It explains why a crisis (dream realization) tends to occur in the midlife if it occurs at all. Other results include...