A physician faces a difficult decision when her terminally ill patient wants to die. Her compassion and the Hippocratic Oath pull her in different directions. A bargaining model offers an explanation of how she balances these emotions. The model has simple and powerful implications for the patient.

The typical living will is an awfully imperfect instrument for doing what it is supposed to do. This paper is one economist's attempt to make sense of living will. The foray takes one deep into the domain of mainstream economics. The paper concludes that, despite its shortcomings, living will...

When harassed users adopt new ways of transaction, supply changes in predictable ways. This linkage between demand and supply can explain a number of puzzling consequences of the decriminalization of marijuana and the war on heroin and cocaine. Copyright 1993 by University of Chicago Press.