Property rights are fundamental to economic analysis. There is, however, no consensus in the economic literature about what property rights are. Economists define them variously and inconsistently, sometimes in ways that deviate from the conventional understandings of legal scholars and judges....

Teaching Innovations in Economics presents findings from the Teaching Innovations Program (TIP) funded by the National Science Foundation. The six-year project engaged economics professors in the use of interactive teaching in undergraduate economics courses. Each chapter offers an insightful...

We model a firm's decisions about product innovation, focusing on the extent to which features should be improved or changed in the succession of models that comprise a life cycle. We show that the structure of the internal and external environment in which a firm operates suggests when to...

This paper is motivated by the claim that promotion probabilities are lower for women than men. Using data from the 1984 and 1989 National Longitudinal Youth Surveys, this paper tests this claim and two related hypotheses concerning training and ability. It is found that females are less likely...

This article uses a social welfare approach to determine if and when the institution of constitutional judicial review of property regulation and expropriation is efficient. A model is proposed in which property rights protection is a component of social costs. Constitutional judicial review is...

Stalin's Great Terror was one of history's most massive political purges. In its form, the Terror resembled a one-shot, n-person prisoner's dilemma game. Although the Terror could not have been sustained if prisoners cooperated, most prisoners defected against one another, as the model would...