We propose a framework for evaluating the effectiveness of regulatory activity based on the distinctions among boundary, conduct, and attribute regulation. The standard we use to evaluate the efficiency and effectiveness of regulations creating boundaries, regulating conduct, and defining attributes is whether the regulations are market-enhancing or market-debilitating. We argue that this frame...

Economists argue that policymakers should take advantage of market principles in designing environmental regulations. Such market-based approaches – environmental taxes and cap-and-trade – use economic incentives to achieve environmental goals at lower costs. Market-based approaches have now become common due to near-unanimous advocacy by economists and early positive policy experiences. Despit...

Peru restructured its electricity sector in the early 1990s. In a short period of time and despite the fact that privatization has been limited, the Peruvian electricity sector already started to benefit from higher efficiency as evidenced by lower marginal costs and electricity prices, increased reliability as evidenced by declining transmission losses and improved service quality. On the othe...

Economic growth has not led to a decline in religion despite past predictions that it would. Using a formal model of religious competition, I show how economic growth produces counteracting effects on religious activity in an open religious market, and that it has little effect in a religious market that is already secularized due to regulations that prohibit religious competition or in a highl...

This study examines the effect of labour market regulations on Greek tourism industry performance. The industry, steam engine economy, always drives to enhance efforts reach further savings in operating costs. However, that influence sector’s ability adjust costs have not been thoroughly investigated. We present a novel methodology permits evaluation technical and allocative efficiency one step...