The Human Factor in Rulemaking Open Access
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In a recent study (forthcoming in the journal Public Choice), Bentley Coffey, Bob Tollison, and I found a robust, positive correlation between the federal government’s regulatory activity and the performance of the capital’s National Football League team, the Washington Redskins. Why would any correlation between the Redskins’ performance and regulatory activity exist? Economic theory offers a couple possible, and conflicting, explanations: wage hedonics and transaction costs.