An emerging trend in financial services is banks' increasingly common refusal to do business with industries for political reasons rather than for traditional business justifications. Banks' refusals are often explained by a desire to make a difference or send a message. While this desire may...

An emerging trend in financial services is banks’ increasingly common refusal to do business with industries for political reasons rather than for traditional business justifications. Banks’ refusals are often explained by a desire to make a difference or send a message. While this desire...

Local public goods financed from a national tax base provide concentrated benefits to receipient jurisdictions but disperse costs, creating incentives for legislators to increase own-district spending but to restrain aggregate spending due to the associated tax costs. While these common pool...

This paper investigates competition between jurisdictions in the context of cross-border shopping for state lottery tickets. We first develop a simple theoretical model in which consumers choose between state lotteries and face a trade-off between travel costs and the price of a fair gamble,...