This paper studies premarital parental investments in children's wealth, where spousal wealth is a public good in marriage. By investing in their children's wealth, parents increase the wealth of their children and the quality of the spouses that their children can marry. In large marriage...

Parents invest differently in sons and daughters. This paper formally re-examines the application of the Trivers Willard hypothesis to humans. Differential fecundity and assortive matching in marriage are necessary for parents to invest differently in the skills of their sons and daughters....

Peer review, up or out rules, tenure and the negative seniority wage premium are distinctive features of the North American market for professors. Besides evaluating some explanations, this paper also presents the historical record and contemporaneous features which all models have to confront.

This paper uses on-the-job screening to derive a stochastic and dynamic model of hiring, promotion, and dismissal policies, and their impact on total firm employment and output. The model provides an explanation of the up-or-out rule observed in many organizations. It also provides an...