Tracking the Odyssey’s Plot through Dawn\u27s Epithets

The three formulaic sunrises in Homer’s Odyssey share several characteristics. Particularly significant is the use of metrically similar epithets: rhododaktulos and xrusothronos, often translated “rose-fingered” and “golden-throned.” Previous scholarly work suggests these formulas have a role in assisting the Homeric audience in tracking the Odyssey’s complex plot. An analysis of formulaic uses of xrusothronos throughout the Odyssey shows that this formula focuses attention on important plot points concerning Odysseus’ revenge upon the suitors. The meanings and non-formulaic usages of these two epithets verify this interpretation. Overall, this paper shows that these sunrise formulas and their epithets serve important roles as focusing mechanisms for the Homeric audience

The Control of Land Rent in the Fortified Farming Town

We consider costly administration at the center of a farming community surrounding a fortified village. Land rent taxation is high cost mode of financing central administration in a tax incidence sense. Participatory administration by the governed is a lower cost alternative. We speculate why the low cost option has been out-competed by its higher cost alternative throughout history. We also take up constraints on predation on farmers by a landlord at the center.administrative structure, public goods, welfare cost

Binomial R&D Races and Growth

In each period, we have an R&D race among N competitive R&D firms, each with probability π of discovering a successful new technique for producing an intermediate good used in producing the economy's final consumption good. The winner of a race earns a monopoly profit over a generally uncertain interval. Each R&D firm faces distinctive "lottery" and "duration" uncertainty in each period. Numerical examples illustrate the growth behavior of the economy linked to the R&D sector.binomial R&D race, growth

The Discount Rate and the Value of Remaining Years of Life

We back out an estimate of a personal discount rate of between 3 and 4 percent for a person with a life expectancy of 74 years who dies at age 30 (or 40) and has a value of statistical life of $6.3 million. Central to these calculations is the series generated by Murphy and Topel of value of life years (the dollar value of consumption plus the dollar value of leisure, with some smoothing for income in retirement). We employ the Makeham "model" of life expectancy in our calculations.Discount rate, Value of life