This paper reports the simulated impacts on the U.S. copper industry of pollution abatement regulations promulgated by the Environmental Protection Agency (EPA). The impacts are simulated by using an econometric model developed for the EPA. The model takes explicit account of the imperfectly...

In an earlier article in this Journal, Horwitz and Kolodny reported that imposition of the SEC's line of business reporting requirements did not affect investors' assessments of the riskiness of multisegment firms. We suggest that shortcomings in their sample-selection and hypothesis-testing...

This paper examines the welfare effects of fee splitting or kickbacks paid by one physician to another in return for patient referrals. This practice is regarded as unethical and illegal in most cases, but it is shown that in a principal-agent context it is possible for fee splitting to offer...

In a recent paper, Jaffee concludes that a regulated firm, seeking to maximize the present worth of cash flows, should adopt a certain form of decelerated depreciation. He assumes the firm is financed solely by debt, and does not take account of the constraint that earnings must at least cover...

In the following note the author supplies corrections for Lemmas 1 and 2 which appeared in his earlier article in this Journal. The revised Lemmas can be used to correct his original proof of Theorem 2.

Book review

The FCC's 1965 policy statement concerning decisions in comparative broadcast licensing cases was a response to criticisms that the process was arbitrary and unrelated to the applicants' comparative merits. Subsequent decisions presumably based on the stated criteria have continued to be...

The potential uses of public resources and powers to improve the economic status of economic groups (such as industries and occupations) are analyzed to provide a scheme of the demand for regulation. The characteristics of the political process which allow relatively small groups to obtain such...

Book review

Several theories have been advanced to explain the observed pattern of government regulation of the economy. These include the "public interest" theory and several versions, proposed either by political scientists or by economists, of the "interest group" or "capture" theory. This article...