Concentration and price-cost margins have increased since the 1980s in many industries. These developments have raised concern about weakened competition and resulting harm to consumers and the need for tougher antitrust enforcement. In 1973 Harold Demsetz cautioned against inferring weakened...

This paper attempts to measure the effect of occupational licensing, restrictions on reciprocity, location specific investment in reputation and earnings on the interstate mobility of professionals. While 34 professional occupations are analyzed, special attention is focused on the legal...

Some additional evidence on the comparative effect of income, regulation, and other variables on the demand for lawyers is called for. One objective of this paper is to investigate the speed of adjustment of law schools to shifts in the demand for lawyers. Section I presents a theoretical model...

This paper considers an N period production planning problem in which a sequence of known demands d₁, d₂,..., d_N must be satisfied. The cost of production in period t consists of a setup cost K_t plus a marginal cost per unit c_t. The cost of carrying a unit of inventory into period t is h_{t - 1}....