We extend search theory to multiple indivisible units and perfectly divisible assets, solving them respectively with induction and recursion. Buyer demands and prices are random, and the seller can partially exercise orders. With divisible assets, the Bellman value function is increasing and strictly concave, and the optimal reservation price falls in the position, reflecting increasing holding costs (opportunity cost of delaying optionality for inframarginal units). The marginal value exists, and is strictly convex with a falling purchase cap density. Our model is amenable to price-quantity bargaining; e.g., greater buyer bargaining power is tantamount to greater search frictions.

Using annual longitudinal data, I show that all children in families with teen childbearing are on a downward trajectory several years before pregnancy begins. Compared to students on similar trajectories from families without teenage childbearing, siblings of teen mothers have lower test scores, higher high school dropout, and higher juvenile justice system exposure following the birth. The change in test score outcomes occurs after the baby is born, indicating that the child's arrival affects performance, rather than some unobserved occurrence leading to both teen pregnancy and poor outcomes. The test scores for teen mothers drop in the year of pregnancy.

Although economics' share of Bachelor's degrees awarded in the United States has been flat for over a decade, its share of second majors is growing. This paper documents trends and correlations in disciplines' shares of first and second majors for Bachelor's degrees conferred in the United States during 2001-2014. First majors in math, engineering, computer science, and technology and in the life and medical sciences (now the modal major among female students) are complements to second majors in economics. Encouraging double majoring in economics among students in these disciplines could grow and diversify the economics discipline while also benefiting graduates.