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As before, we drop those with endowments below the lowest minimum requirement and above the highest maximum requirement and we apply the reassignment algorithm to the remaining ones.
Workers with skill endowments below min j are under-skilled, workers with skill endowments between min j and max j are well-matched and workers with skill endowments above max j are over-skilled.
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Now, it is possible to classify under-skilled workers as those whose skill endowments are below min j and, similarly, over-skilled workers are those whose skill endowments are above max j.
But by midyear, most endowments remained far below where they stood four years earlier — $6.2 billion below in Harvard's case, and $3.6 billion in Yale's.
At the opposite end of the spectrum, endowments with assets below $25 million reported a 37percentt allocation.
To distinguish this type from the Rawlsian allocator that is discussed below, we assume that the remaining endowment is allocated along utilitarian principles, thus going to the most productive reci-pients.
The college was virtually out of cash, and the endowment had dipped below $100 million.
Its $700,000 endowment is far below that of most comparable schools.
When William K. Vanderbilt Jr. bequeathed his mansion to Suffolk County, he required that the endowment never drop below the original principal of $8.2 million.
The philharmonic's endowment now stands below that of the orchestras in Boston, Chicago and New York but above those of Cleveland and Philadelphia, as reported last month.
The second installment, on the implications of the endowment model described below, can be found here.
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CEO of Professional Science Editing for Scientists @ prosciediting.com