Using net discount rates rather than separately projecting wage increases and gross discount rates is one of the two methods allowed and the method seemingly preferred in the most important federal case involving economic methods, Jones & Steel Co. v. Pfeifer (1983). However, as is known by all...

Circuit-breaker (C-B) legislation is legislation designed to give property tax relief to the elderly under formulas that involve state financing of the burden of tax loss, rather than letting it rest on local governments. At least 24 states have adopted such legislation in the past few years and...

This paper considers the narrow question of whether, in a wrongful death context, the right of survivors to recover damages should be based on gross family income and household production or be limited to the income and household production of a decedent. It focuses on the interface between...

Vortrag von Prof. Avinash K. Dixit Professor Emeritus of Economics, Princeton University

Failures of government policies often provoke opposite reactions from citizens; some call for a reversal of the policy while others favor its continuation in stronger form. We offer an explanation of such polarization, based on a natural bimodality of preferences in political and economic...