This paper models illicit drug dealers as territorial monopolists. The model shows that an increase in efforts to reduce the supply of illicit drugs decreases a dealer’s expected monopoly returns over drug turf. Consequently, efforts to acquire drug turf through violence are reduced. Copyright...

This study examines whether highly ranked recruiting classes significantly impact the number of games won by an NCAA men's basketball team the following year. The results suggest that highly regarded freshman guards increase the number of wins whereas freshman players at other positions do not...

The independence of central banks is an important feature of a properly functioning and stable monetary system. The structure of the Federal Reserve is designed to minimize political influence and insulate policy makers from political pressure. Nevertheless, members of the Fed's Federal Open...

The present study uses conjoint analysis to examine college students' choices of elective courses. The relative contributions to student satisfaction or 'utility' of six course and instructor attributes are computed. Results suggest that choice is in large part a function of the perceived...

Climate change could have major implications for the global tourism industry if changing environmental conditions alter the attractiveness of holiday destinations. Countries with economies dependent on tourism and with tourism industries reliant on vulnerable natural resources are likely to be...

Increasing deer populations can be controlled through manipulatingharvest limits or season length. While such actions often result in benefitsto hunters, both motorists and the agricultural sector also benefit as alower deer population leads to fewer incidences of harmful human-deerencounters....

The potential importance ofcongestion effects on the management andrationing of recreational facilities andservices in the presence of heterogeneouspreferences were highlighted nearly twenty-fiveyears ago by Freeman and Haveman (1977). Whilethere have been a number of theoretical modelsextending...

The costs of deer-vehicle collisions (DVCs) nationwide are estimated to be in excess of $1 billion annually. In this study, factors contributing to the abundance of DVCs are identified and the potential effectiveness of various deer management strategies in reducing DVCs is investigated. The...

This study sought to quantify the potential effects of changes in Caribbean reef fish populations on recreational divers' consumer surplus. Over five hundred tourist SCUBA divers were interviewed at seven sites across three Caribbean countries representing a diversity of individuals within the...

This study uses Hofstede's (2001) cultural dimensions to investigate the impact of market reception on capital structure. We examine the interaction of these dimensions with stock returns, our proxy for market timing. Based on our market leverage results, we find evidence that firms do engage in...