This paper develops a measure of the change in welfare of a household or an economy due to exogenous shocks or policy changes. The measure can be applied in a wide range of economies of scale, imperfectly competitive markets, unemployment, and domestic distortionary taxes. The welfare change...

Casino gambling is a social issue, because in addition to the direct benefits to those who own and use casinos, positive and negative externalities are reaped and borne by those who do not gamble. To correctly assess the total economic impact of casinos, one must distinguish between business...

Many consider improved dispute settlement one of the leading achievements of the WTO. This paper tests the implication of a game-theoretic approach that predicts that more efficient litigation devices increase the frequency and number of trade disputes. We propose an empirical event history...

This is a second reply to Professor Walker that corrects additional errors by him. In his present commentary, Professor Walker again provides no new data or research, articulates comments that are already resolved through a careful reading of “Casinos, Crime, and Community Costsâ€...

Professor Walker raises five concerns about our previous research on casinos and crime, published in the Review of Economics and Statistics. All of his concerns speak of potential problems and he includes no new results to provide evidence that the potential problems are actual problems or that...