We derive a tractable nonlinear earnings function which we estimate separately for each individual in the NLSY79 data. These estimates yield five important parameters for each individual: three ability measures (two representing the ability to learn and one the ability to earn), a rate of skill...

This paper argues that even temporary barriers to entry present at the very beginning of transition may lead to permanent extortion development. Entry restrictions, if binding, lead to excess profits, which create an incentive to extort. The emergence of extortionists reduces the expected profit...

The paper demonstrates that policy makers may have a precautionary motive to undertake more labor-market reform--and hence attain lower equilibrium unemployment--inside a monetary union than outside. The reason is a desire to reduce the utility cost of variations in employment when asymmetric...

There is the possibility to affirm on a very surprising (methodological) equivalence, beyond a historian space-time, between two important attempts toward the forever difficult "problem solving": I: Consolation of Philosophy, by Roman philosopher and mathematician Boetius (ca. 480–524 or 525),...

Raising the sanction will always reduce the utility of the criminal. However, raising the sanction will not always lead to less crime, and may lead to more crime. If a criminal has the opportunity to commit multiple criminal acts and has fixed and variable costs of committing these acts, then an...

This is the first legal article, to the author’s knowledge, to apply social movement theory to the foundation of worker cooperatives in the United States. It also begins a series of articles with three goals. First, the application of social movement theory to worker cooperatives should...

We discuss and critique the main lines of economic research that address the economic status and behavior of the working-age population of people with disabilities. We define this population as those with physical or mental limitations that impede their daily activities or their productivity on...

A body of empirical work documents that most people believe they are above average in a variety of skills and abilities. This paper argues that such evidence does not necessarily imply that people process information in an irrational way. I build a model in which people can learn about their...

A body of empirical work documents that most people believe they are above average in a variety of skills and abilities. This paper argues that such evidence does not necessarily imply that people process information in an irrational way. I build a model in which people can learn about their...

The job search literature suggests that on-the-job search reduces the probability of unemployed people finding a job. However, there is no evidence that employed and unemployed job seekers are similar or apply for the same jobs. We combine the Labour Force Survey and the British Household Panel...