We trace the developments that led to quadratic voting, from Vickrey's counterspeculation mechanism and his second-price auction through the family of Groves mechanisms and its most notable member, the Clarke mechanism, to the expected externality mechanism, the Groves-Ledyard mechanism, and the...

In the context of the example of a factory whose smoke emissions affect a near-by laundry, Coase (1960) argued for taxing the laundry as well as the factory, while Baumol (1972) argued for taxing only the factory. The literature on bilateral taxation during the past 40 years has not fully...

We analyse trade reform among the ASEAN countries, which recently began removing all mutual trade barriers. The standard method to avoid complete specialization in traded goods is to distinguish goods both by physical type and place of origin (the so called Armington assumption). This...

When three or more individuals with disparate talents form a business partnership, they may find it difficult to agree on how their profits will be divided. This paper explores a rule for dividing the profits that depends only on the partners' estimates of the relative contributions of other...

We assess the frequencies with which fourteen voting rules encounter nine voting paradoxes and ties, using a statistical model that simulates ranking profiles that follow the same distribution as ranking profiles in actual elections. Thus the frequencies that we estimate from our simulated data...

Analyzing county level data for the entire United States from 1977 to 2000, we find annual reductions in murder rates between 1.5 and 2.3 percent for each additional year that a right-to-carry law is in effect. For the first five years that such a law is in effect, the total benefit from reduced...