Thursday, March 16, 2006


Two Bad Ideas

Michigan just about set on upping the minimum wage. (apparently alternative was worse).

Smoking Ban.

Smoke free balconies in LA.

Read more here.
Yah, I have to agree that these are both pretty bad ideas. Or at least not very good ones.

I wonder if there has ever been a study that tried to determine whether the costs of nagotiating between non-smokers and managers of smoking establishments were prohibitavley high. Intuitivley, I wouldn't imagine they were.

Chris, you done more reading on the topic. Have you heard of any?
I have not come across any work on the negotiation transaction costs.

I have read a few things about workers negotiating amongst workers (and how the rights allocation has changed over time), but no real research on it.

It would be interesting to see if this could be solved in a more efficient way.

Professor Dwight Lee did have one paper on a Coasian approach to smoking, but it did not specifically deal with the potential transaction costs.
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