Direct environmental regulation has been in place in the United States for more than twenty-five years yet there has been little study of what actually affects regulatory enforcement levels. This study examines enforcement issues by focusing on water quality enforcement by the Louisiana...

At the heart of antitrust law is the prohibition on horizontal collusion. To enforce this prohibition, the law must accurately define what collusion entails. One of the most controversial areas in antitrust is the issue of vertical restraints. In the last 20 years, economists have come up with...

This article derives a model of airline services as joint goods. Using this model, the article shows how the existence of higher fares in certain "hub" routes may imply the market has generated a solution to the problem of covering joint costs by having a larger proportion of those costs come...

This paper combines state-level data on trucking rates with information on state-level regulations to estimate the independent effect on rates from three different types of motor carrier regulations: rate regulation; entry regulation; and the provision of antitrust immunity for decisions made...

Although the Sherman Antitrust Act is more than a century old, debate continues over its goals. In contrast to what many have argued, the author contends that the act's main goal is to maximize economic efficiency, rather than the welfare of consumers. The Sherman Act is a modest extension of...

Since 1978 the Federal government has regulated the fuel economy of new cars sold in the United States. The purpose of Corporate Average Fuel Economy (CAFE) standards is to lessen the national dependence on foreign oil. Through the use of theoretical and empirical models this paper examines the...

Several studies, using analyses that measure the correlation between prices in various markets, have argued that deregulation of natural gas pipeline contracts has reduced the transaction costs between natural gas markets. Correlations approaches, however, have potentially serious problems....