The Coase Theorem’s empirical credence and overall relevance to real-world settings continue to be questioned. Identification of a high-stakes, salient (to both Coasean claims) setting that features exogenously-assigned property rights has proven elusive according to the literature. While...

This study utilizes data from the National Youth Survey to reevaluate key conclusions made by Fair (1978). While Fair (1978) used data collected from mail-in surveys, the National Youth Survey was collected using standard probability techniques. This paper also extends Fair (1978), by including...

To increase competition in local telephone markets, the 1996 Telecommunications Act required incumbent firms to lease important inputs to competitors at regulated prices. Defending this so-called stepping-stone hypothesis, the Federal Communications Commission argued that new entrants needed a...