In this paper we use published information to provide analyze the economic value of Direct to Consumer (DTC) advertising. We use information on: the effect of DTC in generating patient visits; the effect of patient visits and mentions of a drug in generating prescriptions; and the effect of...

This is an op-ed from the May 7, 2007 Washingtonpost.com. I argue that our evolved attitudes and preferences have influences on public policy. I use the example of the international economy - including immigration and trade - to illustrate this argument. Our evolved intuition is for a zero-sum...

The academic debate over the deterrent effect of capital punishment has intensified again with a major policy outcome at stake. About two dozen empirical studies have recently emerged that explore the issue. Donohue and Wolfers (2005) claim to have examined the recent studies and shown the...

Item pricing laws (IPLs) require a price tag on every item sold by a retailer. We study IPLs and assess their efficiency by examining and quantifying their costs and comparing them to their measurable benefits. On the cost side, we posit that IPLs should lead to higher prices because they...

We elucidate, connect, and synthesize the literature that employs economics to study the individual rights and freedoms protected by the constitutional amendments comprising The Bill of Rights, including freedom of speech and of the press, the right to bear arms, the right against unreasonable...

Markets, tort law, and direct regulation are alternative methods of achieving safety. Of these, the market is the most powerful, but it is often ignored in policy discussions. I show that both for the U.S. over time and for the world as a whole, higher incomes are associated with lower death...