Professional baseball and football each has its Hall of Fame. Most Valuable Player awards are announced in a growing number of sports, as well as by individual teams. There are Coach of the Year awards, Manager of the Year awards; there is even a Horse of the Year award. Why do economics and...

Economists and public policy-makers alike have long been concerned with the relative and absolute economic welfare of various segments of the population. This interest reflects an underlying concern both about the equity of the existing distribution and about our ability to explainand forecast...