Rent controls lead not only to a smaller market quantity of rental housing; they also result in a deterioration in the quality of available rental housing. A model of the labor market is presented in which the same kind of adjustment can take place when a minimum wage is imposed. The quality of...

"Case-study analysis shows that long-lasting social–ecological systems have institutional arrangements regulating where, when, and how to appropriate resources instead of how much. Those cases testify to the importance of the fit between ecological and institutional dynamics. Experiments are...

"While the conditions of production give some guidance to what factor groupings are desirable ceteris paribus, they do not determine the boundaries of a neoclassical firm (a legal entity with a residual claimant). Indeed, they could just as well be related to other groupings, such as...

"This paper is one of a series of analyses that represent the first wave of work being performed by IFRI's collaborators. Each author draws upon the training and instrument of the IFRI program to address their particular research questions. Given the early stage of IFRI's implementation, the...

"This paper introduces a management regime that would maintain common property rights by allowing resource users to harvest on their own but to share their extraction outcome with a given number of other resource users. The developed partnership approach makes use of the shirkingincentives in...

"This paper provides an experimental analysis of bargaining under imperfect information, molded by the circumstances found in oil field unitization. The purpose of the study is two-fold. One purpose is to provide a more in-depth analysis of how information affects bargained shares and...

"The Tiebout model is one of our most important theories of local government. It is also one of the most controversial. Current debate over the Tiebout model revolves around the apparent disparity between results of macro- and micro-level empirical studies. While macro-level evidence shows...

"This paper provides new theoretical clarification and empirical evidence about relational contracts written for the exploitation of oil and gas reservoirs in the United States and Canada. To mitigate common pool losses, oil fields often are developed under unit operating agreements. These...