We develop a simple insurance model of the secondary market for tickets to account for some of the observed spatial patterns of prices. Beyond ticket markets the model draws attention to the existence of subtle insurance fees in market prices that may be incorrectly attributed to breakdown of...

R-rated films are correlated with lower box office revenues. Using sex and nudity content as an instrument to predict R-ratings, we show that R-ratings themselves are not the cause of lower revenues. Instead, R-rated films contain traits that lower revenues and the ratings act as a signal of...

The American states have provided a rich laboratory in which to examine influences on economic growth, physical capital, human capital, and a variety of policy variables. Existing studies typically use broad cross sections of all states or particular regional subsamples. Pairwise matching is an...

We examine bequest-sharing rules where wasteful competition for bequests is possible by children. We show that equal division minimizes rent-seeking expenditures by siblings. Finally, we employ a theory of rational social norms in order to discuss the evolution of bequest norms in the Middle...

We examine the correlation between federal government activity and the performance of the D.C. area's National Football League team, the Washington Redskins. We find a significantly positive, non-spurious, and robust correlation between the Redskins' winning percentage and the amount of federal...

Use of public humiliation as a deterrent to crime has a long history as does the debate over its effectiveness. A recent rule change in college football presents a natural experiment to test the effectiveness of so-called shaming penalties. In 2004 the National Collegiate Athletic Association...

This paper suggests that, while medieval cathedrals served many purposes and, indeed, were some of the greatest technical achievements of their time, they served a rational economic purpose as well. Protestant entry into the market for Christian religion finally materialized in the early...