The sulfur dioxide (SO₂) cap and trade program established in the 1990 Clean Air Act Amendments is celebrated for reducing abatement costs ($0.7 to $2.1 billion per year) by allowing emissions allowances to be traded. Unfortunately, places with high marginal costs also tend to have high marginal...

This paper compares over a 12‐year period (1) patterns of contracting between a state transportation agency and its prime contractors providing engineering design services with (2) patterns between these prime contractors and their subcontractors. We find evidence of different contracting...

Fast‐paced IT advances have made it increasingly possible and useful for firms to collect data on their customers on an unprecedented scale. One downside of this is that firms can experience negative publicity and financial damage if their data are breached. This is particularly the case in...

Teach For America (TFA) selects and places graduates from the most competitive colleges as teachers in the lowest‐performing schools in the country. This paper is the first study that examines TFA effects in high school. We use rich longitudinal data from North Carolina and estimate TFA...