Previous tests of the endowment effect have usually observed WTA-WTP disparities. Here, a public good experiment is employed. Both account framing and duration framing treatments are introduced to alter subjects’ perceived control over an initial endowment. Results do not indicate that...

The purpose of this paper is to evaluate two new anti-merger instruments, innovation markets and unilateral effects, on the basis of economic theory and evidence. I first discuss how the economics of antitrust has developed over the years, with the intention of characterizing the intellectual...

This paper demonstrates that states’ decisions on limiting congressional terms are empirically determined by measures of relative political influence in Congress. States’ choices on term limits are quantified as a multiple-categorical variable that reflects variation in the stringency of...

This paper examines congressional spending preferences over time by party and chamber. The data employed is the annual vote index compiled by the National Taxpayers Union for 1979-2002. NTU scores are presented with and without adjusting for interchamber and intertemporal movements of the policy...

Objective: In 1978 Congress weakened several key provisions of the Endangered Species Act (ESA), which had been enacted only five years earlier. The objective is to compare alternative explanations for this policy reversal. Methods: Probit and multinomial logit models are used to explain...