We analyze the policy issue of medical marijuana to illustrate how key virtues of federalism can be used to make a threshold determination as to whether a particular public policy should be subject to federal regulation or reserved for states. When the substantive merits of the policy issue are...

This paper examines the desirability of allowing a monopolist to determine the market price. The author finds that none of the regulatory mechanisms previously discussed in the "price versus quantities" literature strictly dominates unregulated, monopoly price-setting. Furthermore, despite...

Efficiency wage considerations should be less important for piece-rate pay than for time wages. Therefore, if industry wage differentials reflect efficiency wage factors, then these pay differences should be less sizable and have less explanatory power for piecework than for timework. We test...