We model how public undergraduate universities alter acceptance and retention rates due to changes in tuition and enrollment-based subsidies. Per student subsidies differ for senior and freshman students, as is true in most states. The university accepts students from an applicant pool which is...

We examine coal contract duration using data on utility coal buyers and supplying mines in the Powder River Basin. Duration determinants are (1) measures of buyers' and sellers' transaction-specific investments and (2) trading and market experience. The results largely support transaction-cost...

Many argued during the NAFTA debate that trade liberalization would favor Mexican over U.S. food processors, especially because of lax environmental laws south of the border. We find through an examination of profit functions that productivity growth in Mexico has outstripped that in the United...

The Endangered Species Act (ESA) is one of the most controversial pieces of environmental legislation. Part of the controversy stems from doubts about its effectiveness in generating improvements in species viability. This paper uses ordered probit models to test whether the ESA has been...

This article develops a general econometric procedure for determining the amount of rent captured by buyers and sellers of goods produced under any market structure. We use this technique to measure the rents earned by firms involved in the extraction, transportation, and consumption of...