Economic Inquiry back issues from April 2005:
SAMUELSON'S DICTUM AND THE STOCK MARKET
Apr 01, 2005; ... Samuelson has offered the dictum that the stock market is "micro efficient" but "macro inefficient. " That is, the efficient markets hypothesis works much better for individual stocks than it does for the aggregate stock market. In this article, we review a strand of evidence in recent ...
MENTAL ILLNESS AND THE DEMAND FOR ALCOHOL, COCAINE, AND CIGARETTES
Apr 01, 2005; ... This article estimates the effect of mental illness on demand for addictive substances, allowing for structural endogeneity and simultaneity between mental illness and addictive consumption. Results show that individuals with a history of mental illness are 26% more likely to consume alcohol, ...
THE EFFECTS OF EMPLOYMENT WHILE PREGNANT ON HEALTH AT BIRTH
Apr 01, 2005; ... Today, many pregnant women take a brief period of time off work to give birth. This article explores the effects of pregnancy employment on health at birth. Initial results show that pregnancy employment has beneficial effects. However, these effects often become statistically insignificant when ...
EMPLOYER RECRUITMENT STRATEGIES AND THE LABOR MARKET OUTCOMES OF NEW HIRES
Apr 01, 2005; ... The results in this article suggest, among other things, a strong association between recruitment choices and starting wages. The theoretical framework motivating the empirical analysis is a wage-posting game in which firms make wage offers and choose recruitment strategies while recognizing a ...
SOME EMPIRICAL EVIDENCE ON THE EFFECTIVENESS OF ANTIMERGER RELIEF IN THE UNITED STATES
Apr 01, 2005; ... The extent of structural relief obtained by the government in a Section 7 settlement is modeled as an outcome of a bargaining game between the antitrust agency and parties to the merger. This framework is applied to data from 73 Section 7 cases settled during 1990-2000. The fraction of ...
DOES FACT-FINDING PROMOTE SETTLEMENT? THEORY AND A TEST
Apr 01, 2005; ... Nonbinding recommendations, such as provided by fact-finders, are shown to significantly increase voluntary settlements in bargaining. Theoretically, it is unclear whether recommendations will increase settlement rates. A recommendation may reduce outcome uncertainty, thereby "chilling" ...
RECYCLING IN MULTIFAMILY DWELLINGS: DOES CONVENIENCE MATTER?
Apr 01, 2005; ... Factors that decrease the time cost of recycling have significant positive correlations with recycling rates in multifamily dwellings (MFDs). Waste-management experts have previously used anecdotes to infer a link between convenience and waste-diversion rates in MFD recycling programs. This ...
AT THE MOVIES: THE ECONOMICS OF EXHIBITION CONTRACTS
Apr 01, 2005; ... We describe a real-world profit sharing contract-the movie exhibition contract-and consider alternative explanations for its use. Two explanations based on difficulties with forecasting fit the facts better than asymmetric information models. The first emphasizes two-sided risk aversion; the ...
INFORMATION ASYMMETRY AND COMPETITIVE BIDDING IN AUDITING
Apr 01, 2005; ... This article finds that clients with greater risk of fraud are less likely to engage prospective auditors in competitive bidding, consistent with the theory that these companies seek to limit access to information that might reveal their high-risk status. In contrast, we find no support for the ...