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"Inequality of endowments, including intelligence, is a reality.
Lately, the performance of university endowments, including Yale's, has been less impressive.
"Pension funds have different mechanics than endowments, including state and even federal laws governing how they can be invested," says Carmona. "There's a new learning curve".
At the other end of the scale, several institutions experienced declines in their endowments, including the Massachusetts Institute of Technology, Dartmouth College and Emory University.
Pension funds generally were late adopters of this strategy, following the lead of big-name university endowments, including Yale University, led by David F. Swensen, and Harvard, which both aggressively embraced investing in alternatives in the 1990s and whose results continue to be strong.
In general equilibrium analysis - of which input-output is an important instance - consumers have initial endowments, including their labor skills.
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Carnegie's endowments included handsome trusts for a school and library in Dunfermline, and for Scottish universities, among them the University of Edinburgh, of which he was Rector.
Dartmouth is in the midst of a fund-raising campaign to add $1.3 billion to the endowment, including $150 million for financial aid.
However, since firms and their resource endowment, including managerial skill sets, are heterogeneous, firms may develop and employ diverse strategies in the search for profit.
In animal models, deletion of several of these genes results in low nephron endowment including PAX2, p53, GLI3R, GDNF, FGF 7, FRS2 and Six2 [ 11, 12].
The museum's $85 million endowment includes about $20 million reserved for acquisitions, giving him about $1 million a year to spend.
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