Politicians are not neutral maximizers of the public good, they respond to incentives just like other individuals. We apply the same reasoning to those politicians in robes called judges. We argue that elected judges, particularly partisan elected judges, have an incentive to redistribute wealth...

Online education has flexibility and cost advantages over in-class teaching and these advantages will grow with improvements in information technology. We consider likely market structures given that the quality aspects of online education exhibit endogenous fixed costs. Concentration in the...

The amended Food, Drug and Cosmetics Act requires efficacy certification for a drug's initial uses ("on-label"), but does not require certification before physicians may prescribe the drug for subsequent uses ("off-label"). Does it make sense to require FDA efficacy certification for new drugs...

We investigate the impact of the race and income of the jury pool on trial awards. We find that the average tort award increases as black and Hispanic county population rates increase and especially as black and Hispanic county poverty rates increase. An increase in the black countypoverty rate...

New-Classical neutrality results have generated an enormous debate because they appear to have strong implications for policy. The author argues that irrelevance propositions are policy irrelevant. If these propositions are true, then behaving as if they are false has zero costs; but if they are...

Every year around Christmas there are shortages of the "hot toy." Why don't sellers raise the price? The hot-toy problem is puzzling if we assume that a "big" shortage implies that a $500 bill is being left on the ground. I show that a big shortage does not necessarily imply large losses in...