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The government has responded to misleading advertising by banning it, engaging in counter-advertising and taxing the product. In this paper, we consider the social welfare effects of those different responses to misinformation. While misinformation lowers consumer surplus, its effect on social...
Persistent link: https://www.econbiz.de/10012465878
to man-made restrictions on development. In this paper, we examine the land-use regulations in greater Boston. There has … been a large increase in the number of new regulations, which differ widely over space. Few variables, other than … historical density and abundant recreational water, reliably predict these regulations. High lot sizes and other regulations are …
Persistent link: https://www.econbiz.de/10012466060
In Manhattan and elsewhere, housing prices have soared over the 1990s. Rising incomes, lower interest rates, and other factors can explain the demand side of this increase, but some sluggishness on the supply of apartment buildings also is needed to account for the high and rising prices. In a...
Persistent link: https://www.econbiz.de/10012468570
the principal mechanism of social control of business. To explain why this happened, we present a model of choice of law …
Persistent link: https://www.econbiz.de/10012470065
Persistent link: https://www.econbiz.de/10010483158
Persistent link: https://www.econbiz.de/10001584734
To identify the determinants of social capital formation, it is necessary to understand the social capital investment decision of individuals. Individual social capital should then be aggregated to measure the social capital of a community. This paper assembles the evidence that supports the...
Persistent link: https://www.econbiz.de/10012471022
More than 17 percent of households in American central cities live in poverty; in American suburbs, just 7.4 percent of households live in poverty. The income elasticity of demand for land is too low for urban poverty to be the result of wealthy individuals' wanting to live where land is cheap...
Persistent link: https://www.econbiz.de/10012471131
Using a sample of Harvard undergraduates, we analyze trust and social capital in two experiments. Trusting behavior and trustworthiness rise with social connection; differences in race and nationality reduce the level of trustworthiness. Certain individuals appear to be persistently more...
Persistent link: https://www.econbiz.de/10012471573
This paper summarizes economic research on investment in public infrastructure and introduces the findings of several new studies on this topic. It begins with a review of several potential justifications for the public sector's involvement in building, financing, and operating infrastructure,...
Persistent link: https://www.econbiz.de/10012482434