their classmates do worse. The theory presented below reconciles all of these facts by recognizing that classroom teaching … ranges away from equilibrium levels will adversely affect educational output. The theory argues for a particular non … by lowering class size. The theory provides a measurable and operational way to define school quality that can be tested …

theory of law, our finding that the public courts do not automatically generate efficient rules is disappointing, since it … strongly influenced by economic considerations and explicable in economic terms, is evidence that economic theory has a major …