A recent Wall Street Journal article by Arthur C. Brooks on the Occupy Movement and fairness («Fairness and the ‘Occupy’ Movement, November 25) says some interesting things about potential common ground between free-market ideas and the Occupy movement. Yet Brooks also commits some very important errors. Perhaps with clearer facts there could be more common ground on reforming the economy and p...

Support was provided by National Institute on Drug Abuse Grant RO1 DA08237 to Jacques P. Barber. We thank Ilana Krakauer, Veronica Rice, and Carol Foltz for their help with data analysis of previous versions of this study. Correspondence concerning this article should be addressed to Jacques P. Barber, Suite 648, 3535 Market Street, Philadelphia, PA 19104–3309. E-mail: [email protected]....

JOHN D. PIERCE, J•t., DAVID. H. BLANK, EVGUENY V. ARONOV, ZHENRONG GUO, GEORGE PRETI, and CHARLES J. WYSOCKI, Monell Chemical Senses Center, 3500 Market Street, Philadelphia, PA 19104-3308 (J.D.P., D.H.B., E.V.A., Z.G., G.P., C..].W.); and Department of Dermatology, School of Medicine (G. P.), and Department of Animal Biology, School of Veterinary Medicine (C..]. W.), University of Pennsylvania...

The street garment vendors are playing a significant role in the fields of the economic development through protecting resources (garment products) from such a position where they are treated as wastes; very much less valued products and creating the opportunity for self-employment. This study aimed at showing the economic contribution and the impact of the street vendors to the local community...

This paper examines the impact of local tax rates and capital market conditions on the level and composition of borrowing by foreign affiliates of American multinational corporations. The evidence indicates that 10 percent higher local tax rates are associated with 2.8 percent higher debt/asset ratios of American-owned affiliates, and that borrowing from related parties is particularly sensitiv...

The proliferation of both online and bricks and mortar outlet stores underscores the observation that secondary markets are readily accessible to retailers of short-life-cycle products. These secondary markets provide recourse channels for retailers to sell excess inventory of outof-favor items at reduced prices when overstocking occurs in a primary market. We study the problem of determining w...

This paper investigates the rationale for public intervention in the terrorism insurance market. It argues that government subsidies for terror insurance are aimed, in part, at discouraging self-protection and limiting the negative externalities associated with self-protection. Cautious self-protective behavior by a target can hurt public goods like national prestige if it is seen as “giving in...

In this paper we examine the market reaction—price and volume—to the appearance of a firm in the Who’s News column of The Wall Street Journal. We differentiate between those firms whose articles are accompanied by a picture of an executive and a control set of firms whose articles on the same day are not accompanied by a picture. The results show a more pronounced market reaction to the “cum pi...

The relationship between market structure and advertising has been extensively studied, but has generated sharply opposing theoretical predictions, as well as inconclusive empirical findings, likely due to severe endogeneity concerns. We exploit the 2008 merger of Miller and Coors in the U.S. brewing industry to examine how changes in local concentration affect firms’ advertising behavior. Well...