In this paper we consider the conditions under which instrumental variables methods are required in estimating a hedonic price function and its accompanying demand and supply relations. We assume simple functional forms that permit an explicit solution for the equilibrium hedonic price function....

In this paper we explore the relationship between crime and work using data for a cohort sample of young men. We find that working and going to school significantly decrease the probability of committing criminal acts and by virtually identical amounts. Parochial school education and higher IQ...

In this paper, we estimate the general deterrent effect of criminal justice resources on criminal behavior. Our panel data, which combine individual-level information on arrests and personal characteristics with aggregate measures of criminal justice resources, allow us to obtain deterrence...