This paper examines products liability when consumers have private information about their susceptibilities to product-related harm. In this case, it is efficient for consumers to self-select in their purchases, with those especially prone to harm refraining from purchase. Achieving this outcome...

This paper presents an experimental investigation of the three ambient-based mechanisms proposed by Segerson [J. Environ. Econom. Management 15, 87-98 (1988)] for controlling emissions from a group of nonpoint source polluters: a marginal tax/subsidy, a fixed penalty, and a mechanism that...

This paper provides a necessary and sufficient condition for the equivalence of three alternative measures of the elasticity of factor substitution: the Allen-Uzawa partial elasticity; the shadow elasticity; and the general two-factor, two-price elasticity. Copyright 1989 by Blackwell Publishing...