This paper demonstrates that a one-owner firm tends to overmonitor its employees. Because monitoring is imperfect, and penalities imposable on detected rent-seekers are limited by the opportunity cost wage, employees have incentives to engage in rent-seeking activities that both reduce and...

This paper examines the conditions under which some resource owners would support the levying of an exc ise tax on the sales of a good to which they supply inputs in product ion. In the three-factor model considered, the supply of one input is perfectly elastic. Two other factors are substitutes...

This paper utilizes the Social Science Citation Index and G. J. Stigler and C. L. Friedland's 1985 Calendar of Great Economists to test several implications of an efficient market model of scientific research. Among the questions investigated are how fast an economist's work decays over time in...