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Phosphates and the Environmental Free Lunch
(Regulation, 1984)
The environmental rationale for a detergent phosphate ban is straightforward enough.
Phosphates are pollutants because, ironically enough, they are biodegradable. In fact, living things thrive on them. Excessive phosphate ...
Economic Contests: Comparative Reward Schemes
(Journal of Labor Economics, 1984)
Contests are situations in which an individual's reward depends on his performance relative to others. Students are graded on a curve; the candidate with the most votes gets the political office; the un- derling who performs ...
Adaptive Responses to Chemical Labeling: Are Workers Bayesian Decision Makers?
(American Economic Review, 1984)
A fundamental issue in the economics of uncertainty is how individuals process information and make choices under uncertainty. In a recent analysis of the findings on risk perception, Kenneth Arrow (1982) concluded that ...
The Lulling Effect: The Impact of Child-Resistant Packaging on Aspirin and Analgesic Ingestions
(AEA Papers and Proceedings, 1984)
In 1972 the Food and Drug Administration imposed a protective bottlecap requirement
on aspirin and other selected drugs. This regulation epitomizes the technological
approach to social regulation. The strategy for reducing ...