We examine non-price allocation mechanisms when the incentive and information constraints
faced by a democratic government may render the ideal (i.e., “first-best”) outcomes…
First panel of the Oct. 3 Business and Peace Conference, featuring Donald Cassell, Philip Powell, and John Sullivan. Moderated by John Forrer on the topic Trade and Peace.
We analyze the economic determinants and long-run e↵ects of prior appropriation
surface water rights from 1852 to 2013 and show how formal property rights developed
to generate the discovery…