The federal government has imposed a minimum wage since 1938, and nearly all the states impose their own minimum wages. These laws prevent employers from paying wages below a mandated level. While the aim is to help workers, decades of economic research show that minimum wages usually end up...

Social preferences and third-party enforcement of formal contracts are two mechanisms that facilitate performance of an agreement. The standard argument is that formal, enforceable contracts substitute when the social preferences of trust and trustworthiness/reciprocity are lacking. We explore...

Digitalization has opened up a wealth of new goods and services with strong consumer appeal alongside potential emission-reduction benefits. Examples range from shared, on-demand electric mobility and peer-to-peer trading of electricity, food, and cars to grid-responsive smart appliances and...

This open access book proposes a conceptual framework for understanding measurement across a broad range of scientific fields and areas of application, such as physics, engineering, education, and psychology. It addresses contemporary issues and controversies within measurement in light of the...