Flood control decisions are often involved with quantitative and qualitative criteria. In this paper, a decision model is presented for flood control operations based on the theory of variable fuzzy sets. Using dual comparison, two models computing relative membership grades with qualitative and...

Prior research has demonstrated that the ability to express one’s views or “voice” matters in social and economic interactions, but little is known of the mechanisms through which voice operates. Using an experimental approach based on the ultimatum game with the strategy method, we...

Standard models of taxpayer compliance have fallen short of predicting the degree of honesty found in the data. We contribute to the more recent literature assessing cultural factors in the decision to underreport. We find that there are two forms of possible misspecification in the current...

In the past two decades, litigation in many U.S. stateshas triggered educational reform movements designed to reducethe inequalities in educational expenditures across school districts.This paper uses a panel data set across all the states from 1970–1990to examine the role of litigation and...

This paper develops an intertemporal model of the current account that allows for variable interest rates and exchange rates. These additional variables are channels through which external shocks may influence the domestic current account. We test the restrictions imposed by the theory, using...

Purchasing a home involves a large and localized investment that leaves many families exposed to volatile house prices and at risk of losing their home equity. Price movements are typically not synchronized across cities, suggesting the potential for efficiency gains through risk sharing across...

Traditional economic theory assumes rational individuals with stable preferences who, given an array of options and probabilities, maximize their expected utility. However, experimental research finds that individuals make systematic “mistakes” when attempting to maximize their expected...