Market provision of radio programming is beset by possible inefficient underprovision of formats that appeal to small audiences, for which the social benefits of programming — but not advertising revenue — exceed their costs. Larger markets have more programming, so their listeners derive...

The Priest/Klein model predicts both trial rates and plaintiff win rates as functions of three structural parameters: the decision standard, parties' uncertainty in estimating case quality, and the degree of stake asymmetry across parties. Previous tests of the model are unsatisfactory because...