High-Priced Drugs in Medicare Part D: Diagnosis and Potential Prescription
Drug pricing in the U.S. is a persistently vexing policy problem.
Research
On Asymmetric Reserve Prices
We investigate equilibrium bidding in first-price auctions with asymmetric reserve prices.
New Prospects for Organizational Democracy? How the Joint Pursuit of Social and Financial Goals Challenges Traditional Organizational Designs
The joint pursuit of commercial and societal objectives will likely require non-traditional (non-hierarchical) ways of organizing.
An Efficient Western Energy Imbalance Market with Conflicting Carbon Policies.
A reform of the Western Energy Imbalance Market should target the right problem. Import leakage is a problem; resource shuffling is a solution.
The Efficiency Consequences of Heterogeneous Behavioral Responses to Energy Fiscal Policies
The behavioral responses to taxes and subsidies are often subject to various behavioral biases and transaction costs—what we define as “microfrictions.” We develop a theoretical framework to show how
The Concept of ‘Due Diligence’ in the UN Guiding Principles on Business and Human Rights: A Reply to Jonathan Bonnitcha and Robert McCorquodale
We welcome the opportunity to respond to Jonathan Bonnitcha and Robert McCorquodale’s discussion of the 2011 United Nations Guiding Principles on Business and Human Rights (Guiding Principles).
The Design of Environmental Markets: What Have We Learned from Experience with Cap and Trade?
This article reviews the design of environmental markets for pollution control over the past 30 years, and identifies key market-design lessons for future applications.
Why has Regional Income Convergence in the US Declined?
The past thirty years have seen a dramatic decline in the rate of income convergence across states and in population flows to high-income places.
If Many Seek, Ye Shall Find: Search Externalities and New Goods
Consumer search serves productive roles in an economy with multiple goods.
Building Emergency Savings through Employer-Sponsored Rainy Day Savings Accounts
Many Americans live paycheck to paycheck, carry revolving credit balances, and have little liquidity to absorb financial shocks (Angeletos et al. 2001; Kaplan and Violante 2014).
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