Preston v. Ferrer from the Supreme Court in 2008 shows that the Court is steadfastly committed to fostering arbitration. In the most sweeping terms so far the Court pushed the limits of interstate commerce and reached into the California state court system to override that state's deference to...

Abstract The dominant model of addictive consumption in economics is the theory of rational addiction. The addict in this model chooses how much they are going to consume based upon their level of addiction (past consumption), the current benefits and all future costs. Several empirical studies...

The dominant model of addictive consumption in economics is the theory of rational addiction. The addict in this model chooses how much they are going to consume based upon their level of addiction (past consumption), the current benefits and all future costs. Several empirical studies of...

“Smoking in Restaurants: Who Best Sets the House Rules?†by David Henderson, Econ Journal Watch 4(3), is a comment on our paper “Smokefree Laws Increase Restaurant Values,†Contemporary Economic Policy 22(4). Henderson asserts that restaurant owners can internalize all of the...

This paper makes a second reply to David R. Henderson, and concludes the exchange regarding the economics of smoke-free ordinances for restaurants.