Art as an Investment and the Underperformance of Masterpieces

By Jianping Mei and Michael Moses

American Economic Review, December 2002

Improving Efficiency of On-Campus Housing: An Experimental Study

By Yan Chen and Tayfun Sönmez

American Economic Review, December 2002

Protection for Sale: An Empirical Investigation: Comment

By Theo Eicher and Thomas Osang

American Economic Review, December 2002

Why Don't Prices Rise During Periods of Peak Demand? Evidence from Scanner Data

By Judith A. Chevalier, Anil K. Kashyap, and Peter E. Rossi

American Economic Review, March 2003

We examine retail and wholesale prices for a large supermarket chain over seven and one-half years. We find that prices fall on average during seasonal demand peaks for a product, largely due to changes in retail margins. Retail margins for specific goods...

The Economic Costs of Conflict: A Case Study of the Basque Country

By Alberto Abadie and Javier Gardeazabal

American Economic Review, March 2003

This article investigates the economic effects of conflict, using the terrorist conflict in the Basque Country as a case study. We find that, after the outbreak of terrorism in the late 1960's, per capita GDP in the Basque Country declined about 10 percen...

The Evolution of Human Life Expectancy and Intelligence in Hunter-Gatherer Economies

By Arthur J. Robson and Hillard S. Kaplan

American Economic Review, March 2003

The economics of hunting and gathering must have driven the biological evolution of human characteristics, since hunter-gatherer societies prevailed for the two million years of human history. These societies feature huge intergenerational resource flows,...

Gravity with Gravitas: A Solution to the Border Puzzle

By James E. Anderson and Eric van Wincoop

American Economic Review, March 2003

Gravity equations have been widely used to infer trade flow effects of various institutional arrangements. We show that estimated gravity equations do not have a theoretical foundation. This implies both that estimation suffers from omitted variables bias...

Optimal Contracting with Subjective Evaluation

By W. Bentley MacLeod

American Economic Review, March 2003

This paper extends the standard principal-agent model to allow for subjective evaluation. The optimal contract results in more compressed pay relative to the case with verifiable performance measures. Moreover, discrimination against an individual implies...

Corporate Lobbying and Commitment Failure in Capital Taxation

By Nicolas Marceau and Michael Smart

American Economic Review, March 2003

Access to Food and the Biological Standard of Living: Perspectives on the Nutritional Status of Native Americans

By John Komlos

American Economic Review, March 2003

Redistributive Promises and the Adoption of Economic Reform

By Sanjay Jain and Sharun W. Mukand

American Economic Review, March 2003

Speed Limit Policies: The Output Gap and Optimal Monetary Policy

By Carl Walsh

American Economic Review, March 2003

Expert Opinion and Compensation: Evidence from a Musical Competition

By Victor A. Ginsburgh and Jan C. van Ours

American Economic Review, March 2003

Choosing the Wrong Calling Plan? Ignorance and Learning

By Eugenio J. Miravete

American Economic Review, March 2003

Energy, the Stock Market, and the Putty-Clay Investment Model

By Chao Wei

American Economic Review, March 2003

The Mismatch Between Life Insurance Holdings and Financial Vulnerabilities: Evidence from the Health and Retirement Study

By B. Douglas Bernheim, Lorenzo Forni, Jagadeesh Gokhale, and Laurence J. Kotlikoff

American Economic Review, March 2003

Monetary and Nonmonetary Punishment in the Voluntary Contributions Mechanism

By David Masclet, Charles Noussair, Steven Tucker, and Marie-Claire Villeval

American Economic Review, March 2003

Jealousy and Equilibrium Overconsumption

By Bill Dupor and Wen-Fang Liu

American Economic Review, March 2003

Organizational Design and Technology Choice under Intrafirm Bargaining: Reply

By Lars A. Stole and Jeffrey Zwiebel

American Economic Review, March 2003

Globalization and Its Challenges

By Stanley Fischer

American Economic Review, May 2003