I consider markets with asymmetric information. As suggested by Akerlof, quality deterioration in such markets may take place. I show that this is a general phenomenon. Minimum quality constraints (or [...]
Occupational licensure can be approached within a framework of basic economics. The people of every country produce and consume diverse commodities and services. This mixed bag—the economy’s output—is produced by [...]
To summarize, the empirical tests used in this study have found no support for the contention that physicians were initially regulated at the behest of the general population. Rather, empirical [...]
To summarize, the empirical tests used in this study have found no support for the contention that physicians were initially regulated at the behest of the general population. Rather, empirical [...]
The economic theory of regulation suggests that occupational licensing laws are enacted and administered to advance the interests of licensed practitioners. For example, grading standards on licensing examinations could be [...]
It should be noted parenthetically that, while licensing causes the mean quality of legal practitioners to rise, by excluding those at the lower part of the qualitative range who could [...]
Current statutes grant broad, near-exclusive scopes of practice to a few professions and “carved-out” scopes for the remaining professions. These laws erect unreasonable barriers to high-quality and affordable care.The need [...]
Recent upheavals within health care delivery, technological advances, and changing attitudes among consumers have challenged and changed health professions licensure. At the same time, traditional regulatory frameworks remain in place. [...]
Licensing confers a special authority, both literally and figuratively, which increases the likelihood of dependency on licensed personnel. The inequality of information available to the public, compared to the professional, [...]
This paper explores the origins and effects of occupational licensing regulation in late nineteenth and early twentieth century America. Was licensing regulation introduced to limit competition in the market for [...]