This paper examines the allocative efficiency of two popular non-price allocation mechanisms - the lottery (random allocation) and the waiting-line auction (queue system) - for the cases where consumers possess identical time costs (the homogeneous case), and where time costs are correlated with...

We consider estimation and inferences for fixed effects spatial panel data models based on unbalanced panels that arise from nonparticipation or inaction of some spatial units in certain time periods. The unbalanced nature of the panel data renders the standard transformation method of...

How is the economic status of the elderly changing and what are their prospects for the future? My portrait tells us how well off they are on average, but also about the vast disparities that exist among them. This description includes an often neglected measure of their economic well-being--the...

Perhaps the single greatest achievement of social policy in the United States over the last three decades has been reducing poverty in old age. The transition from work to retirement is no longer economically perilous for the vast majority of older American workers. For most married couples, the...