For over three centuries and throughout the globe, people have enthusiastically bought savings products that incorporate lottery elements. In lieu of paying traditional interest to all investors proportional to their balances, these Prize Linked Savings (PLS) accounts distribute periodic...

Presents basic theory and applications of consumer and producer behavior and welfare analysis at an intermediate level. Emphasizes applications, including the measurement of productivity, rationing, insurance markets, and intertemporal behavior. Credit not given for both 14.03 and 14.04. From...

The development and evolution of labor market structures and institutions. Particular focus on competing explanations of recent developments in the distribution of wage and salary income and in key institutions and organizational structures. Special attention to theories of worker motivation and...