The economic doctrine of “externalities” has become an excuse for governments to intervene economically in heavy-handed ways, all in the name of “saving” the ...

Most economic externalities can be efficiently solved through a system of private property rights, in which costs and ...

Phil Gramm and Michael Solon’s “Enemies of the Economic Enlightenment” (op-ed, April 16) seems intended to vilify the efforts of reformers seeking to change priorities and cultures within corporations ...

Learn how economists measure externalities using equilibrium models, cost assessments, and qualitative methods. Gain insight into real-world and theoretical impacts.

Discussions of immigration policy are typically framed in the context of their economic effects in receiving countries, notably labour market and fiscal effects. In this paper, we characterize ...

We model situations in which a principal offers contracts to a group of agents to participate in a project. Agents' benefits from participation depend on the identity of other participating agents. We ...

Dursun Peksen, Dunavant Professor in the Department of Political Science at the University of Memphis, will deliver the 2021 Winnie Veenstra Peace Lecture. He argues that policymakers should apply ...

Michel J. G. van Eeten and Johannes M. Bauer (2008): Economics of Malware: Security Decisions, Incentives and Externalities. STI Working Paper, 2008/1, Information and Communication Technologies, ...

Wine growers everywhere fear spring frosts. New vine buds emerge in the spring and are highly susceptible to freezing temperatures which can kill them and result in significant crop loss for the year.

The invisible hand is a concept introduced by economist Adam Smith. It refers to the self-regulating nature of markets where individual actions, driven by personal interests, contribute to overall ...