Since the 1970s, U.S. federal courts have issued court orders condemning state prison crowding. However, the impact of these court orders on prison spending and prison conditions is theoretically ambiguous because it is unclear if these court orders are enforceable. We examine states' responses...

This study provides evidence that state budget officials give biased forecasts. Specifically, in gubernatorial election years, state budget officers overestimate the growth in state personal income, U.S. personal income, and state revenues by 1.3%, 1%, and 2%, respectively. These biases are even...

We confront two common objections to Harsanyi's impartial observer theorem; one to do with 'fairness', and the other to do with different individuals' having different attitudes toward risk. Both these objections can be accommodated if we drop the reduction axiom; in particular, if we...