Rucker, Randal R; Thurman, Walter N; Sumner, Daniel A - In: Journal of Political Economy 103 (1995) 1, pp. 142-75
Regulatory programs that restrict output levels often impose restrictions on the transfer of rights to produce or to use particular inputs. In this paper, the authors use a unique cross-section, time-series data set from North Carolina to quantify the welfare effects of transfer restrictions for...