The paper demonstrates that the standard policy for controlling child labor imposing a fine on firms caught employing children can cause child labor to rise. This pathological’ reaction is, however, reversed as the size of the fine increases.

The paper fully characterizes the Bertrand equilibria of oligopolistic markets where consumers may ignore the last (i. e. the right-most) digits of prices. Consumers, in this model, do not do this reflexively or out of irrationality, but only when they expect the time cost of acquiring full...

The evidence that the same total income can lead a household to choose different consumption vectors, depending on who brings in how much of the income, has led to an effort to replace the standard unitary model of the household with the ‘collective model’, which recognizes that the husband...