This paper offers a model for the bias found in willingness-to-pay valuations against new treatments. For example, this bias provides an explanation for patient preferences that make it difficult for formularies to take treatments off their lists, even when newer treatments would appear to be...

This paper develops a model of migration integrating equilibrium and disequilibrium components in which individuals and firms from rational expectations about future opportunities. Levels of migration are derived as functions of variations in factors influencing migrant labor demand ("economic...

Responding to a paper in this journal by Evans, we assess the relative role of equilibrium and disequilibrium in modeling regional growth and decline. While there are elements of both present, we find a preponderance of evidence that equilibrium forces are the dominant influence