AN ESTIMATE OF THE RENT GENERATED BY A PREMIUM COLLEGE FOOTBALL PLAYER

The National Collegiate Athletic Association limits the payments athletes can receive for their services. Colleges are effectively monosony employers so players will not be paid their marginal revenue product. Therefore, colleges capture an economic rent from players. This paper measures these rents by estimating the marginal revenue product of a top college football player. The empirical results suggest that a premium college player generates over $500,000 in annual revenues for his team.     

SEALED-BID VERSUS OPEN AUCTIONS: THE EVIDENCE

Data from U.S. Forest Service timber auctions are used to test Vickrey's original proposition that sealed-bid and open auctions yield equal revenue. Models for the high-bid in an auction are specified and estimated using three different procedures: ordinary least squares, two stage least squares, and maximum likelihood. The second two procedures include a second equation which accounts for the Forest Service's auction choice and therefore control for selection bias. These two procedures, which unlike ordinary least squares yield consistent estimators, imply a statistically and economically insignificant difference in high-bids between sealed-bid and open auctions.     

EDWIN CHADWICK AND THE ECONOMICS OF CRIME

"⃛Among all the administrative questions which you have touched (and they are both numerous and of the highest importance), there is hardly one on which you have not originated thoughts and suggestions of the greatest value ⃛"     

EXPERIMENTAL STUDIES OF CONSUMER DEMAND BEHAVIOR USING LABORATORY ANIMALS*

Using laboratory animals as subjects, two series of experimental studies of consumer demand behavior are reported. The experiments show that laboratory animals will change consumption patterns in response to changes in the budget set, consuming more of the lower priced commodities and less of the higher priced commodities. Large rotations in the budget line for essential commodities resulted in severe disruption of consumer behavior. The experiments demonstrate the feasibility of using non-human subjects in laboratory studies of economic behavior.     

Actors and Questions in Telephone and Personal Interview Surveys

This paperconcentratesontwoaspectsof telephone survey administration:(1) the respondent's reactions to the request for an interviewand to the interview itself, and (2) the properties of questionsusing response cards in personalinterviews and adaptations ofthese questions for telephone use.