Economic Inquiry

Articles from Vol. 49, No. 4, October

2010 Editor's Report
The 2010 volume of Economic Inquiry consists of 74 papers in a wide variety and diverse set of fields, including microeconomics, macroeconomics, and empirical studies. Since my last report, we have brought in two new co-editors, Gian Luca Clementi...
A Comparative Analysis of the Nativity Wealth Gap
I. INTRODUCTION In many countries worldwide, substantial numbers of immigrants are at (or near) retirement age. In the United States and Germany, for example, immigrants are as likely as the native born to be over the age of 55 yr, while in Australia...
Cheating in Contests
I. INTRODUCTION Competition to win the rewards attendant to ranking first in a contest motivates effort or performance by agents in all manner of tasks. Of course, competition is also often valued for its own sake as well as for eliciting output...
Does Wal-Mart Sell Inferior Goods?
"I feel we are well positioned for an economic downturn. Our low prices and low-cost business model should give us an advantage over other retailers if things get more difficult for consumers." --Wal-Mart's CEO Lee Scott (Kavilanz 2007) I. INTRODUCTION...
Do Mergers Really Reduce Costs? Evidence from Hospitals
I. INTRODUCTION Cost reductions through consolidation are a frequent argument made in favor of mergers. Yet, as discussed by Caves (1989) and Dickerson, Gibson, and Tsakalotos (1997), ex ante efficiency may not materialize into ex post efficiency....
Economies of Scale in the Household: Puzzles and Patterns from the American Past
I. INTRODUCTION In one example of economies of scale, households with multiple members are able to achieve the same standard of living at lower per capita expenditures on public goods than smaller households. For example, if two adults unite to...
Fiddling with Value: Violins as an Investment?
I. INTRODUCTION In this article, we analyze the prices of violins using two different datasets: one dataset includes 337 observations on repeat sales of the same violins at auction and at dealer sales starting in the mid-nineteenth century, and...
Heterogeneous Rates of Time Preference and the Decision to Smoke
I. INTRODUCTION Smoking imposes substantial health risks, many of which are not immediate and will also have long-term effects on smokers' well-being. Recent estimates of the lost life expectancy due to smoking are 2.4 years for women and 4.4 years...
Military Spending and the Growth-Maximizing Allocation of Public Capital: A Cross-Country Empirical Analysis
I. INTRODUCTION Public spending promotes economic growth by enhancing the productive capacity of private firms. The literature recognizes the possibility that different types of public spending (e.g., infrastructure, education, health, and military...
Patent Pool Formation and Scope of Patents
I. INTRODUCTION In some areas of research (e.g., biotechnology), follow-up innovations may be built on several basic innovations and might not be developed without them. Inventions such as methods to isolate and locate gene sequences have no value...
Possibility of Dying as a Unified Explanation of Why We Discount the Future, Get Weaker with Age, and Display Risk-Aversion
I. INTRODUCTION A number of evolutionary theories have been proposed to explain the phenomenon of aging or senescence or why we get weak as we get older (see the review article by Gavrilov and Gavrilova (2002)). Economists have also explored the...
Risk-Taking Behavior in the Presence of Nonconvex Asset Dynamics
I. INTRODUCTION A vast literature on poverty traps points to the plausible existence of nonconvexities that generate multiple equilibria. Agents who begin poor may be unable to escape poverty for any of a host of reasons. Credit constraints due...
Sell Local! the Next Logical Step
Buy local (BL) campaigns are gaining ground in many towns, cities, counties, and states throughout the United States. These commendable efforts are based on intuitive principles that: local production reduces energy usage and therefore mitigates against...
The Impact of AIDS on Income and Human Capital
I. INTRODUCTION In the time it takes to read this paper, more than 1600 people will become infected by the HIV virus worldwide and 960 will die due to AIDS. Seventy-one percent of the deaths will occur in Africa, by far the worst-affected region....

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.