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A study of taxi deregulation in nine United States cities found that the number of taxi firms increased, but large incumbent firms continued to dominate all but one of the nine cities. The taxi prices did not fall in real terms, but increased in every city studied. Turnover was concentrated among small operators (usually one-cab … Read more
This randomized “natural experiment” of the Vietnam draft lottery has been used in several studies to sort out the unique experience of the Vietnam-era cohort. As the first to deploy this novel estimation strategy, Hearst et al. documented the short-term consequences of Vietnam military service on subsequent mortality risk. However, these results represent not a … Read more
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In 2001, RuneScape players received digital Party Hats for free as part of the game’s Christmas promotion. Twenty years later, Jaffer says these party hats are now worth billions of in-game gold pieces. The most sought-after color of party hat sold for 57 billion gold pieces (close to $6,700), according to Runescape.Some of the popular … Read more
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