David A. Penn

Financial well-being in an urban area: an application of multiple imputation

This article estimates a model of self-reported financial well-being (FWB) using primary data collected for a Southwestern U.S. city. Missing data are estimated using multiple imputation. Model estimates show how FWB depends on home ownership, the number of children, health insurance, age, and income. Multiple imputation results differ somewhat from complete case results.

The Development of Water Rights in Colorado: An Empirical Analysis

According to Anderson (1982), property rights will be more carefully defined and enforced when the value of a resource rises or the probability of losing it increases. This theory is applied to the development of water rights during the early years of irrigated farming in Colorado. Water rights enforcement is measured as the number of court cases. An empirical model is estimated on data for the years 1884 to 1920. The estimates suggest that the property rights theory cannot fully explain the empirical facts. It appears necessary to also take into account the predictions of the theory of agricultural protection.