The 21st Amendment repealed prohibition, but granted the states broad power to regulate the distribution and sale of … role for antitrust challenges to PH laws and similar anticompetitive state regulation. If states wish to reduce the social …

legal regimes: prohibition, regulation and laissez-faire. The key feature is the endogenous evolution of the risk as a … policies on the equilibrium quantity of prostitution and on the harm associated with it. A prohibition regime that makes it … therefore associated with an increase in quantity. Prohibition is preferable to minimize quantity only if a high expected fine …