Recent survey validation studies suggest that measurement error in earnings data is pervasive and violates classical measurement error assumptions and, therefore, may bias estimation of cross-section and longitudinal earnings models. The authors model the structure of earnings measurement error...

When land markets are incomplete, parcels can be scaled to make control compatible with use and to internalize externalities. The authors show that an arbitrage-proof equilibrium implies an increasing and strictly concave relationship between the value and size of land parcels. Undeveloped land...