When the government institutes a program thought to be useful for society as a whole, such as building a highway or controlling air pollution, those that benefit from such programs are usually quite different from those that bear its costs. Sometimes the government responds by postponing or...

The success or failure of programs typically depends on how numerous variables interact over time. Individuals adjust their strategies continuously on the basis of prior events. Unintended consequences abound. And the very meaning of success or failure may change over time. Yet the studies that...

In 1982, the Congress authorized $11 billion to modernize the nation's air traffic control system-one of the largest infrastructure investments since the building of the interstate highway system. Although this investment appears to offer a large and robust return, the economic results depend...