A theoretical treatment of husband and wife as independent decisionmakers in family labor supply is presented. The model emphasizes the income-sharing characteristic between husband and wife, but allows differences in marginal utility of income for the couple. Under reasonable conditions, a...

Private markets constantly assess project investment opportunities across a spectrum of such possibilities. The market's perspective on the boundary of viable projects, however, may be more limited than socially optimal due to informational constraints. In the case of economic development...