The average quality of spouse an individual marries varies significantly with age at marriage, peaking in the mid-twenties, then declining through the mid-forties, as does the hazard rate of marriage. Using a non-stationary sequential search model, we identify the search frictions that generate...

We study the effects of insurance coverage on consumer search behavior and the pricing of services covered by insurance, constructing a general equilibrium model of moral hazard in search with an endogenous price distribution. When an insured event occurs, households request quotes from firms,...

We analyze an equilibrium search model where the buyer seeks to purchase a good before a deadline. The buyer's reservation price rises continuously as the deadline approaches. A seller cannot observe a potential buyer's remaining time until deadline, and hence posts a price that weighs the...

We provide an overview of the workings of the National Science Foundation and the proposal review process, as well as some guidance in writing proposals for funding.

In this paper we derive conditions under which optimal tax rates for addictive goods exceed tax rates for non-addictive consumption goods in an environment where exogenous government spending cannot be nanced with lump sum taxes. Standard static models that consider revenue raising and...

Between 1996 and 2003, a series of amendments were made to the Tax Reform Act of 1986 that gradually increased the tax credit for health insurance purchases by the self- employed from 25 to 100 percent. We study how these changes have in uenced the likelihood that a self-employed person has...

We investigate the effect of speaking Spanish at home as a child on completed schooling and aptitude test scores using data on Hispanics who grew up in the U.S. from the NLSY79. We model the accumulation of traditional human capital and English fluency, leading to the joint determination of...

In an application game, agents decide whether to apply for the prize, and reviewing applica- tions allows the decision maker to learn agent qualifications and award prizes to qualified agents. The decision maker finds reviewing applications costly, and prefers not to review applications from...

A great deal of attention has been paid in the literature to estimating the impacts of training programs. Much less attention has been devoted to how training agencies assign participants to training programs, and to how these allocation decisions vary with agency resources, the initial skill...

We experimentally test an endogenous-timing investment model in which subjects privately observe their cost of investing and a signal correlated with the common investment return. Subjects overinvest, relative to Nash. We separately consider whether subjects draw inferences, in hindsight, and...