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"...

This paper examines how the size of an efficient subsidy varies with the amount of freeriding and the presence of distorting taxation. Ironically, the existence of free-riding, where some individuals make no voluntary contribution at all, reduces the size of an efficient subsidy and makes a...

Public goods can be financed by direct taxation or a subsidy to private spending. This paper examines the relative efficiency and distributional consequences of the two methods. Efficiency is shown to depend on the price elasticity of private spending and the trade- off between public and...

Dan A. Black and Daniel S. Nagin state that my article with David Mustard assumes that the effect of concealed-handgun laws is constant over time, that the effect is the same across states, that the article does not control for local time trends, and that we did not investigate whether the...

This paper presents time-series evidence on the voting behavior of members of the U.S. House of Representatives from 1975 to 1990. The empirical results indicate that voting behavior of individual congressmen is remarkably stable over time. The authors find no evidence of economically...

Many recent game-theoretic models suggest that, with asymmetric information, it can be profitable for firms to acquire a reputation for toughness to discourage later entry. The authors identify institutional arrangements that firms must undertake if predatory commitments are to be credible. For...