theory, and in particular the theory of comparative advantage, is really just an application of benefit-cost analysis. This … is true both of many of the tools of trade theory, which are familiar as the same tools by which benefit-cost examines … all sorts of public projects and policies, and of the implications of the theory. Trade theory does not say, as sometimes …

). For these cartels, agency cost theory could provide some insights as to how to destabilize them from within. Agency costs …

spite of dramatic increases in income tax rates after World War II …

, lucid tests of the theory. Voter turnout is strongly related to election closeness, but not in the way predicted by the … theory. Thus this relation is generated by some other mechanism, which is indeterminate, as no existing theory explains the …