Trading the cost of better performance off the probability that an imprecise test’s performance estimate falls short of the pass threshold, an assessee may perform above the threshold (and fear failure because of negative errors) or below it (and hope to pass because of positive errors). This...

Decarbonization and security are worthy goals, but it would be a mistake to think that protection and subsidization of domestic manufacturing reduce their cost. Trade restrictions decrease economic efficiency. Creating manufacturing jobs may sound like a benefit, but in advanced countries it...