In a two-market Bertrand duopoly,each of two firms chooses one of two markets and a price in that market. All four choices are made simultaneously. In a two-market Cournot duopoly, the firms choose quantities rather than prices.It is well known that in the one-market case the threat of price...

Governments can tax productive activities with either uniform or discriminatory rates among taxpayers. Although discriminatory rates can cause productive inefficiency and require high cost of administration, they can be preferred because of their advantage in distributional flexibility. This...

This paper integrates investments in health to a standard growth model where physical and human capital investments are the combined engines of growth. It shows the existence of two distinct health regimes separated by an 'Epidemiological Transition'. The various patterns of the transition...

Standard models of law enforcement involve the apprehension and punishment of a single suspect, but in many contexts, punishment is actually imposed on an entire group known to contain the offender. The advantages of .group punishment. are that the offender is punished with certainty and...

We develop a two-sector economy where each sector is classified as classical/Keynesian (contract/noncontract) in the labor market and traded/nontraded in the product market. We consider the effects of changes in monetary and exchange rate policy on sectoral and aggregate prices and outputs for...

This paper studies the institutional structure of criminal sentencing, focusing on the interaction between legislatures, which set sentencing ranges ex ante, and judges, who choose actual sentences from within those ranges ex post. The key question concerns the optimal degree of judicial...

Tiebout's (1956) model of fiscal competition suggests income sorting between jurisdictions while the Alonso (1964), Mills (167) and Muth (1969) model of the monocentric city suggests income sorting over space. However, strict income sorting is not empirically observed. We add fiscal competition...

This study uses data from two online courses in principles of economics to estimate a model that predicts exam scores from independent variables of student characteristics. In one course the final exam was proctored, in the other course the final exam was not proctored, and in both courses the...

The standard economic model of bilateral precaution postulates an interdependency between the care taken by injurers and victims that operates through the effects of each on the expected accident loss. This paper considers situations in which each party's precaution affects not only expected...

The eminent domain clause of the U.S. Constitution concerns the limits of the government's right to take private property for public use. The economic literature on this issue has examined (1) the proper scope of this power as embodied by the 'public use' requirement, (2) the appropriate...