In recent years numerous employers have reformed their health plan by changing the structure of employee contributions to premiums across different plans and across different rate classes (e.g., single versus family). This paper develops the notion of "premium cost sharing", in which the focus...

We study the investment incentives of a regulated, incumbent firm in a deregulation process. The regulator cannot commit to a long-term regulatory policy, and investment decisions are taken before optimal regulatory policies are imposed. We characterize the regulated incumbent's incentive to...

It is common practice for firms to pool their expertise by forming parterships such as joint ventures and strategic alliances. A Central organizational problem in such parterships is that managers may behave noncooperatively in order to advance the interests of their parent firms. We ask whether...

This paper provides estimates of annual alcohol consumption per capita for the period 1870-1991.