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Geronimus says black-white differences in mortality "help silence black voices in the electorate"

Do universities need more conservative thinkers?

Starr critical of risk assessment scores for sentencing

Highlights

Presentation on multilevel modeling using Stata, July 26th, noon, 6050 ISR

Frey's new report explores how the changing US electorate could shape the next 5 presidential elections, 2016 to 2032

U-M's Data Science Initiative offers expanded consulting services via CSCAR

Elizabeth Bruch promoted to Associate Professor

Next Brown Bag

PSC Brown Bags
will resume fall 2016

Consumption Commitments and Employment Contracts

Archived Abstract of Former PSC Researcher

Postlewaite, Andrew, Larry Samuelson, and Daniel Silverman. 2001. "Consumption Commitments and Employment Contracts." PIER Working Paper 06-002Penn Institute for Economic Research.

We examine an economy in which the cost of consuming some goods can be reduced by making commitments to consumption levels independent of the state. For example, it is cheaper to produce housing services via owner-occupied than rented housing, but the transactions costs associated with the former prompt relatively inflexible housing consumption paths. We show that consumption commitments can cause risk-neutral consumers to care about risk, creating incentives to both insure risks and bunch uninsured risks together. For example, workers may prefer to avoid wage risk while bearing an unemployment risk that is concentrated in as few states as possible.

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