Consumers have benefited from decades of technological improvement in electronics, yet the distribution of their welfare gains are unexamined, despite interest in other measures of inequality. In this paper, I examine the welfare gains to different income cohorts from the development of multiple...

We present a search-and-matching model of the housing market where potential buyers' willingness to pay is private information and sellers may become desperate as they are unable to sell. A unique steady state equilibrium exists where desperate sellers offer sizeable price cuts and sell faster....

This paper reports the results from a lab experiment in which subjects playing the manager role can implement either an efficient/inegalitarian allocation or an inefficient/egalitarian allocation of payoffs. The experiment simulates a stylized managerial context by allowing the manager to...

Since November 2014, the population's real disposable money income have been steadily on the decline. Data for January – September 2015 point to a rising poverty rate. In 2015, the share of personal income spent on commodities and services hit its record low of the past 16 years. The share of...

If having firm-driven renegotiations of contracts for infrastructure services is a major concern, efficiency should not be the only consideration in selecting an operator. Indeed, consumers may want to award the concession to a less efficient firm if that would reduce the probability of...

This article explores how deeply held philosophies and environmental risk allocation are "real" values in terms of enivronmental impacts, and as such should be considered under NEPA. If this were the case, this would make the operation of NEPA more transparent and efficient

Time-dependent economic, technological, and social factors can artificially inflate or deflate quantitative measures for career success. Here we develop and test a statistical method for normalizing career success metrics across time dependent factors. In particular, this method addresses the...

We study consumer surplus in a single market when (a) there is a lower bound in the consumption of the outside good and (b) the weights in the social welfare function given to consumers and firms are different. We assume quasilinear utility. When the lower bound constraint on the consumption of...

Why are contracts not fully indexed? In a setting in which fully indexed contracts are feasible, we find that when price-level data are gathered with delay, these contracts are not renegotiation-proof. The contracts that replace them entail a lower level of welfare for the parties to that...

We consider a collective choice process where three players make proposals sequentially on how to divide a given quantity of resources. Afterwards, one of the proposals is chosen by majority decision. If no proposal obtains a majority, a proposal is drawn by lot. We establish the existence of...