Economics and Finance

Economics, as a field of study, is diverse in the topics it encompasses and the methods or techniques it uses. It explores decisions and choices under constraints of individuals, groups, firms, governments, or societies. The discipline examines the allocation and distribution of resources as well as their creation and exchange, whether at a given time or across it. The issues studied cover a broad range, for example, from health and education to crime and punishment, from revenues and expenditures of governments and companies to how individuals respond to incentives, and the conditions of cooperation, coordination, or conflict. Economics is theoretical and empirical, whether statistical, experimental, or historical. Economics examines and explains trends and patterns of individual and aggregate human behavior and their implications.

Advisory Editors

Lucas Bernard
New York City College of Technology, City University of New York

Volume Editors

Badi H. Baltagi
Syracuse University

Allen N. Berger
University of South Carolina

Christopher J. Berry
University of Glasgow

Nancy Brooks
Cornell University

John Cawley
Cornell University

Michael P. Clements
University of Warwick

Douglas Cumming
Schulich School of Business, York University

Patricia M. Danzon
The Wharton School

Jeff Dayton-Johnson
Monterey Institute of International Studies

George DeMartino
University of Denver

Kieran Donaghy
Cornell University

Joshua M. Duke
University of Delaware

Robert D. Ebel
University of the District of Columbia

Gerald Epstein
University of Massachusetts Amherst

Jens Forssbæck
Lund University School of Economics and Management

Michelle R. Garfinkel
University of California, Irvine

John Geweke
University of Technology, Sydney

Sherry Glied
Columbia University

G. C. Harcourt
University of Cambridge

David F. Hendry
University of Oxford

Leo H. Kahane
Providence College

Gerrit‐Jan Knaap
University of Maryland

Gary Koop
University of Strathclyde
Mordechai E. Kreinin
Michigan State University

Peter Kriesler
UNSW Australia Business School

Aaron Levine
Yeshiva University

Alexander Lipton
Bank of America Merrill Lynch

Justin Yifu Lin
Peking University

Jayson L. Lusk
Oklahoma State University

Rachel M. McCleary
Harvard University

Deirdre McCloskey
University of Illinois at Chicago

Philip Molyneux
Bangor University

Célestin Monga
World Bank

Dennis C. Mueller
University of Vienna

Sean Nicholson
Cornell University

Brian Nolan
University College Dublin

José Antonio Ocampo
Columbia University

Paul Oslington
Australian Catholic University

Lars Oxelheim
Lund University School of Economics and Management

Maria Paganelli
Trinity University

Martin Peitz
University of Mannheim

John E. Petersen
George Mason University

Michael G. Plummer
Johns Hopkins University

Jeffrey S. Racine
McMaster University

Andrew Rennie
Independent scholar

Jutta Roosen
Technical University Munich

Jaime Ros
Kellogg Institute for International Studies

Wiemer Salverda
Amsterdam Institute for Advanced Labour Studies

Javier Santiso
ESADE Ramon Llull University
Bernd Scherer
EDHEC - Risk

Stephen Shmanske
California State University, East Bay

Jason Shogren
University of Wyoming

William Shughart
Utah State University

Stergios Skaperdas
University of California, Irvine

Timothy M. Smeeding
University of Wisconsin-Madison

Craig Smith
The University of St Andrews

Peter C. Smith
Imperial College Business School

Liangjun Su
Singapore Management University

Doron Teichman
The Hebrew University of Jerusalem

Christopher R. Thomas
University of South Florida

Gianni Toniolo
Università LUISS-Roma; Duke University

Aman Ullah
University of California, Riverside

Herman Van Dijk
Erasmus University, Rotterdam

Joel Waldfogel
University of Minnesota; National Bureau of Economic Research

John O. S. Wilson
University of St. Andrews

Kenneth Winston
Western Asset Management; California Institute of Technology in Pasadena

Martin H. Wolfson
University of Notre Dame

JunJie Wu
Oregon State University

Eyal Zamir
The Hebrew University of Jerusalem

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