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In industries where consumption generates negative externalities and internalities, governments can attempt to curb excess demand by restricting supply. However, this strategy may simply shift …
Discussion paper
We build a simple formal model of governance. Investments and control rights over assets and labor are fully contractible, but final production decisions are ex ante uncontractible, and ex post …
Discussion paper
Lower income commuters are more likely to ride and reside near public transit within cities, but do they also benefit more from faster transit travel? Combining survey data on travel behavior with …
Discussion paper