This paper demonstrates that plausible cost-based explanations exist for what are commonly perceived to be cases of price discrimination. The authors explain such commonly discussed problems as the price spreads of retail gasoline products, the "high" price of dinners at restaurants, the "high"...

There is general agreement that burglary produces social costs over and beyond the damage done to the victim if a crime raises other potential victims' subjective estimates of being robbed and thus increases their investments in protecting themselves (e.g., purchasing more locks). Economists...

The authors' note shows that the level of risk-sharing is not likely to increase when a deficit is created. A certain level of insurance can as easily be accomplished under a balanced budget or under a surplus, and the creation of a deficit does not provide a superior means, and probably an...

Several recent empirical studies have challenged the conventional wisdom that deficits cause a higher interest rate. Many economists are, however, critical of the seemingly implied theoretical justification--that every individual fully recognizes the size of the deficit and the extent to which...