popularity. Information externalities render the chosen set smaller than socially optimal. This rationalizes antitrust policies …

importance in controlling harmful externalities. I compare the tax and liability here in theory and suggest that the conclusions … harmful externalities, its actual use has been limited, mainly to the domain of pollution. Liability, in contrast, has great …

Taxation and liability are compared here as means of controlling harmful externalities. It is emphasized that liability …

costs of subsidizing corporate debt from the existing literature. Our theory also sheds light on why the IRS considers …

outcomes are inefficient. In the case of negative externalities, Pigouvian taxes are one way to correct this market failure …

We propose a novel theory of self-fulfilling unemployment fluctuations. According to this theory, a firm hiring an … for low prices when he is employed than when he is unemployed. In response to the increase in demand and prices, other … of employment on demand and prices and show that they are sufficiently strong to generate multiple rational expectations …

optima. First, there is an Internality Dividend from Externality Taxes: aside from reducing externalities, they also offset …