The Theory of Screening, Education, and the Distribution of Income
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This article is published in The American Economic Review.The article was published on 1975-06-01 and is currently open access. It has received 1377 citations till now. The article focuses on the topics: Income distribution & Income in kind.read more
Citations
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Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information
TL;DR: The authors analyzes competitive markets in which the characteristics of the commodities exchanged are not fully known to at least one of the parties to the transaction, and suggests that some of the most important conclusions of economic theory are not robust to considerations of imperfect information.
ReportDOI
Interpreting the evidence on life cycle skill formation
TL;DR: In this paper, the authors formalize the concepts of self-productivity and complementarity of human capital investments and use them to explain the evidence on skill formation, and provide a theoretical framework for interpreting the evidence from a vast empirical literature, for guiding the next generation of empirical studies, and for formulating policy.
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The design of tax structure: Direct versus indirect taxation
TL;DR: In this article, the authors reexamine the age-old question of direct versus indirect taxation and the relationship of these taxes to the goals of efficiency, vertical equity and horizontal equity, and argue that any treatment of the choice of tax structures must be centrally concerned with distributional considerations.
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Cumulative Advantage/Disadvantage and the Life Course: Cross-Fertilizing Age and Social Science Theory
TL;DR: The genesis of the cumulative advantage/disadvantage perspective in studies of science, its initial articulation with structural-functionalism, and its expanding importance for gerontology are reviewed; its intellectual relevance for several other established theoretical paradigms in sociology, psychology, and economics is discussed.
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The Role of the State in Financial Markets
TL;DR: In this article, the role of the state in financial markets is examined and seven major market failures that provide a potential rationale for government intervention are identified, and a taxonomy of those interventions with respect to both the objectives they serve and the instruments they employ is provided.
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Posted Content
The Statistical Theory of Racism and Sexism.
TL;DR: The theory of racial and sexual discrimination in the labor market was first introduced by Arrow as mentioned in this paper, who introduced the Inflation Policy and Unemployment Theory (INPT) and introduced the first formalization of the theory in terms of exact statistical models.
Book ChapterDOI
The Private and Social Value of Information and the Reward to Inventive Activity
TL;DR: In this paper, the authors discuss the private and social value of information along with the reward of inventive activity, and argue that there tends to be private underinvestment in inventive activity mainly because of the imperfect appropriability of knowledge.
Journal ArticleDOI
Self-Selection and Turnover in the Labor Market
Joanne Salop,Steven C. Salop +1 more
Book
The Rise of the Meritocracy
TL;DR: Young's satire of the oligarchy of the future "Minerocracy" as discussed by the authors shows how present decisions and practices may remold our society, and it would appear that the formula: IQ+Effort=Merit may well constitute the basic belief of the ruling class in the twenty-first century.