We present an equilibrium search model that parsimoniously rationalizes the use of auctions as a sales mechanism for new-in-box goods--a frequent occurrence in online retail markets--and analyze whether the existence of these auctions is welfare enhancing relative to a market consisting only of...

We consider a game in which schools compete to place graduates in two distinct ways: by investing in the quality of education, and by strategically designing grading policies. In equilib- rium, schools issue grades that do not perfectly reveal graduate abilities. This leads evaluators to have...

An extensive multi-disciplinary literature examines the effects of learning one’s HIV status on subsequent risky sexual behaviors. However, many of these studies rely on nonexperimental designs; use self-reported outcome measures, or both. In this study, we investigate the effects of a...

This paper measures the extent to which declines in Canadian welfare participation were associated with novel and aggressive welfare reforms. Referred to as new reform strategies, these welfare policy variables are: work requirements, diversion, earning exemptions, and time limits. Controlling...

There is evidence for the long-run persistence of geographical variation in tolerance towards other ethnicities. However, existing studies of tolerance use data from countries with long-standing patterns of ethnic diversity, so it is unclear whether the inter-generational transmission is in...

We conduct a laboratory experiment to analyze the effect transactions costs and inertia have on charitable giving. We conjecture that transaction costs will have a greater effect on donations if the solicitation is received when the opportunity cost of time is high. Inertia could become a factor...

In conventional wisdom, the reform of British copyright law during the eighteenth century brought an end to the monopoly on the sale of books held by the Stationers’ Company, and the resulting competition was one of the driving forces behind the expansion of British book production during...

This paper presents a model of quantity regulation aimed at mitigating externalities from over-use of a commons: for example, restrictions on use of automobiles, fisheries, computer networks and electronic stock quotation systems with high-frequency traders. The model provides a...

This paper explores how foreign direct investment (FDI) and other determinants impact income inequality in Turkey in the short- and long-run. We apply the ARDL (Auto-Regressive Distributed Lag) modelling approach, which is suitable for small samples. The data for the study cover the years from...

We present a theoretical model of moral hazard and adverse selection in an imperfectly competitive loans market that is suitable for application to Africa. The model allows for variation in both the level of contract enforcement (depending on the quality of governance) and the degree of market...