Cheap talk, side payments, and arbitration are limited in their ability to coordinate asymmetric entry among symmetric potential entrants. Externally imposed licensing requirements may provide a viable mechanism to attain the desired asymmetric outcome in equilibrium.

Theoretical studies have questioned the efficacy of mandatory disclosure requirements under various conditions, but empirical studies of disclosure requirements have been rare. This paper tests the impact of the Fair Credit and Charge Card Disclosure Act of 1988, enacted specifically to increase...

A linear ad valorem tax can induce homogeneous oligopolists to produce at socially optimal levels, achieving the first-best allocation, in the presence of external costs that vary exogenously with aggregate output. The optimal tax rate is independent of private cost functions and thus reduces...

Median household income is found to grow faster in counties with smaller manufacturing, retail, wholesale, and service establishments. Copyright Springer 2006

When banks face capital regulations and stochastic deposit supply, their decisions to borrow at the discount window will be affected by a broader range of variables than previous theoretical and empirical studies have recognized. Moreover, those decisions can respond discontinuously to changes...