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Antitrust regime shifts represented by the 1933 adoption and 1935 annulment of the National Industrial Recovery Act are postulated to have effects analogous to temporary achievement of Bradburd and Over's 'integrative concentration level' (Bradburd and Over, 1982); a level at which cartel...
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We examine Harold Demsetz’s (1967) prediction that property rights will emerge and be refined once the benefits of doing so exceed the costs. We follow the development of property rights to oil and gas deposits in the United States to test this prediction. The pattern of development has been...
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This article presents an integrated framework for assessing water markets in terms of their institutional foundations, economic efficiency, and environmental sustainability. This framework can be a tool for (a) comparing different water markets, (b) tracking performance over time, and (c)...
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