product of labor, with larger markdowns at more desirable programs. Therefore, a limited number of positions at high quality … market. I find that financial incentives increase the quality, but not the number of rural residents. Quantity regulations … increase the number of rural trainees, but the impact on resident quality depends on the design of the intervention …

on quality. We examine the U.S. hotel industry during the past half century. We document that starting in the early 1980s …, quality competition came more in the form of costs that vary with hotel size, and less in the form of costs that are fixed … have been associated with more, but smaller, hotels in business travel destinations. In contrast, the growth in the number …