The configuration of equilibrium in the market for automobile collision insurance is examined empirically by representing the premium-deductible menu and the demand function as a standard hedonic system. Using contractual data from a representative insurer, the authors estimate a reduced-form...

We develop a simple model in which firm-specific advertising has cooperative and predatory effects. Our model is set in a static market where firms are naturally segmented into two distinct submarkets: several large firms located in the core, with small firms operating as a fringe. We test the...

The authors extend the theory of human capital investment under uncertainty by incorporating postinvestment labor supply as a choice variable. They show that human capital investment decreases in response to an increase in risk about its return if such investment is an inferior activity and...

We extend the standard, one-period model of tax evasion to an inter-temporal framework in which an expected-utility-maximizing taxpayer updates expectations about the probability of a future audit based on past audit experience. This framework provides a theoretical grounding for the empirical...

This innovative and insightful book, written by some of the leading academics in the field, advances research frontiers on intellectual property and copyright issues. Topics addressed include: peer-to-peer music file sharing, optimal fair use standards, the benefits of copyright collectives,...