This paper investigates the relationship between professional sports franchises and venues and real per capita personal income in 37 standard metropolitan statistical areas in the United States over the period 1969 to 1994. Our empirical framework accounts for the entry and departure of...

The concept of market failure was originally presented by economists as a normative explanation of why the need for government expenditures might arise. Gradually, the concept has taken on the form of a full-scale diagnostic tool frequently employed by policy analysts to determine the exact...

Leaking underground storage tanks (USTs) are a pervasive national environmental problem. Cleanup of leaking USTs is largely publicly financed and under the control of state agencies. In the transition to new compliance standards, individual states have taken advantage of provisions in federal...