This paper estimates the impact of environmental regulations of 1994 imposed by the State of Maryland on the blue crab industry. For the analysis a model is developed, which includes three stochastic equations and five identities. After the estimation of the model the impact multipliers are...

Re‐estimates the famous study by Stigler and Friedland (1962) that examines the impact of regulation on the price of electricity. Employs time‐series data in the analysis, in light of recent extensions of the Stigler‐Peltzman theory of regulation. By modelling regulatory behaviour as an...

Researchers of legislative behavior have attempted to explain the decisions of legislators for some time. Public choice scholars have argued that legislators will “sell” political favors in exchange for some from of interest group payment that is thought to benefit the legislator's electoral...

Purpose – The purpose of this paper is to examine the economic development strategies of Nepal and Bhutan to understand the economic factors that have contributed to economic growth. Design/methodology/approach – After a brief discussion of each country's modern history, their economies are...

Purpose – The purpose of this paper is to examine the economic development strategies of Nepal and Bhutan to understand the economic factors that have contributed to economic growth. Design/methodology/approach – After a brief discussion of each country's modern history, their economies are...

The present study provides a comparison of the Confederate Constitution of 1861 and the Japanese Constitution of 1946, with emphasis on the role of constitutional constraints on pork‐barrel legislation and increasing rates of federal spending. Because the Japanese Constitution, by all...

Public choice theory describes politicians as expected utility maximizing agents who are primarily concerned with their own election prospects. In a fashion similar to Anderson and Tollison, who showed that US President Abraham Lincoln manipulated the military vote in the US Presidential...

World folklore and history are replete with examples that involve economics principles. The present note builds upon other published work by providing an empirical public choice analysis of the Salem witch trials of 1692. Our analysis suggests that the pattern of accusations during this episode...

In detailing the crimes against humanity committed by the Nazi regime before and during the Second World War, Breton and Wintrobe (1986) Breton and Wintrobe describe the Nazi bureaucracy as a flexible microstructure that zealously carried out the “Final Solution” to the “Jewish...

In 1990, the federal government of the United States passed a bill to allow an increase in legal immigration by 1.2 million until 1994. Many questions concerning immigration have been detailed in the economics literature. They concern the effects of immigration on the earnings of the native...